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Landlord Transfer Fees

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  • Landlord Transfer Fees

    Hi All

    I have POA for my mother who is currently buying a property in Manchester (M46 postcode). We have reached the stage where I am near to signing the contract (the property is £230,000)

    Last week I received from my solicitor the Lease management pack which was dated 1967 but written in ‘old speak’. The solicitor kindly interpreted all of the important detail. The Lease did not detail the ground rent but I understand this to be £12.00 PA which is what I would have expected. The Lease also states that there is a sum payable to the Landlord of 2 Guineas by the purchaser on completion.

    Just yesterday I received from my solicitor a bunch of documentation to read and sign, one of which is the fee for the Landlord/Estate Management company of £385.00. There is no breakdown or justification for this figure, it is just a standard form which has blanks for the property information etc. To be honest I have had phishing emails that are more convincing than this piece of paper!

    So my question is, if the Lease actually states a figure of 2 guineas which I understand to be around £2.10, then can they legally charge a price as high as £385 or are they just trying it on? If I say I will pay the £2.10 as stated in the Lease where do I stand legally on this. I am aware of cases where people have paid this small amount and that is the matter closed.

    I have instructed my solicitor to look into this for me but in the interim any advice on where I stand with this would be much appreciated. I am not sure that the solicitor knows currently what the answer is.

    Many thanks