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Community Forums => The Lounge => Topic started by: Mark_Porter on January 02, 2018, 05:44:10 PM



Title: Estate Agents Fees
Post by: Mark_Porter on January 02, 2018, 05:44:10 PM
Scum of the earth.

Moving into a one bedroom flat shortly. Fees quoted are

References £225 each
Inventory check £120 total

Total £570.

References come back that as I am on a probation for my new job, I will need a guarantor. Annoying but fine, hey hoh, another £120 reference please.

Total £690.

I have never missed a rent payment in 10 years of renting. I have >2 years rent in the bank. Pay in new job will cover rent with no issue.

Fucking estate agents. How they can justify nearly £700 in fees is beyond me. The government will continue to churn out new houses and come up with schemes to help first time buyers while it is this sort of shit that stops normal people ever being able to save up enough to afford a deposit.

To a man, every estate agent I have ever dealt with is a scummy failed salesperson and all their practices are aimed at squeezing out every last possible penny.


Title: Re: Estate Agents Fees
Post by: Mark_Porter on January 02, 2018, 05:52:46 PM
Fee   Cost (inc. VAT)   Explanation
Tenant Referencing   £96.00/person   This is charged for each tenant applying for the tenancy.
Guarantor Referencing   £120.00/guarantor   Only if a Guarantor is required and charged for each Guarantor that is referenced.
Negotiating and agreeing Tenancy Agreement (Tenant share)   £210.00   One off charge for the Tenancy Agreement preparation.
Negotiating and Agreeing a renewal/extension to your tenancy (Tenant Share)   £114.00   One off charge for each renewal/extension.
Company Referencing   £300.00   Company or Business reference fee
Unfurnished Inventory Check (Tenants Share)   £120.00   One off charge per tenancy.
Furnished Inventory Check (Tenants Share)   £144.00   One off charge per tenancy.


FUCK OFF


Title: Re: Estate Agents Fees
Post by: mikeymike on January 02, 2018, 05:53:06 PM
Glad you got that off your chest then.


Title: Re: Estate Agents Fees
Post by: Mark_Porter on January 02, 2018, 06:07:43 PM
Glad you got that off your chest then.

And breathe... :-)

Not much makes me angry to be fair. Forced over a barrel with no alternatives is one.


Title: Re: Estate Agents Fees
Post by: celtic on January 02, 2018, 08:43:52 PM
Letting agents, not estate agents 😁


Title: Re: Estate Agents Fees
Post by: redsimon on January 02, 2018, 08:49:56 PM
He hasn't yet experienced the delightful people that work in the buying/selling  houses sector yet :P


Title: Re: Estate Agents Fees
Post by: ripple11 on January 04, 2018, 07:49:04 PM
Bit late for you, but the Govenment are looking to do so something in this sector


https://www.gov.uk/government/news/government-action-to-end-letting-agent-fees


Title: Re: Estate Agents Fees
Post by: StuartHopkin on January 05, 2018, 08:46:17 AM
Bit late for you, but the Govenment are looking to do so something in this sector


https://www.gov.uk/government/news/government-action-to-end-letting-agent-fees

Then they will charge the landlord, who will in turn increase the rent, and then Mark will be happier but overall probably paid a bit more!


Title: Re: Estate Agents Fees
Post by: tikay on January 05, 2018, 09:13:20 AM

Paging Eso Kral, paging Eso Kral.


Title: Re: Estate Agents Fees
Post by: Mark_Porter on January 05, 2018, 09:26:59 AM
You can guarantee that at the same time, they will be charging the landlord referencing fees and ongoing management fees.

I rang them up to ask why I was being charged more than the fees on their website and was met with "oh, those fees on the website are out of date, as a good will gesture we will honor those as it is our error"

Yea, I suppose that governments forcing fees to be removed will just drive up rent. £114 to renew a tenancy (change a date on a page) is day light robbery.


Title: Re: Estate Agents Fees
Post by: Kev B on January 05, 2018, 09:27:25 AM
Good job you weren't buying it then. Your mortgage arrangement and solicitors fees would probably be treble that.

I recently used a solicitor in S-O-T whos fees were £230 per hour and a London one who quoted double that. Welcome to the housing market.


Title: Re: Estate Agents Fees
Post by: PokerBroker on January 05, 2018, 11:44:46 AM
Good job you weren't buying it then. Your mortgage arrangement and solicitors fees would probably be treble that.

I recently used a solicitor in S-O-T whos fees were £230 per hour and a London one who quoted double that. Welcome to the housing market.

Mortgage Arrangement fees not necessarily that is going to depend on the product chosen and size of the loan.  But they key thing is you wouldn't be paying someone else's mortgage or contributing to their pension plan. 

Solicitors on the other hand some of their fees are incredibly high for the work they do.  I always advise my clients to find their own solicitor through recommendation as invariably in the buying process most problems come up with solicitors and a good solicitor is worth their fee.  I'd argue the same for a good broker/IFA. 


Title: Re: Estate Agents Fees
Post by: bobAlike on January 05, 2018, 12:39:28 PM
Good job you weren't buying it then. Your mortgage arrangement and solicitors fees would probably be treble that.

I recently used a solicitor in S-O-T whos fees were £230 per hour and a London one who quoted double that. Welcome to the housing market.

Mortgage Arrangement fees not necessarily that is going to depend on the product chosen and size of the loan.  But they key thing is you wouldn't be paying someone else's mortgage or contributing to their pension plan. 

Solicitors on the other hand some of their fees are incredibly high for the work they do.  I always advise my clients to find their own solicitor through recommendation as invariably in the buying process most problems come up with solicitors and a good solicitor is worth their fee.  I'd argue the same for a good broker/IFA. 

I fell out with my solicitor, who was a property specialist, when i received a bill from him for a house purchase that never completed and further more I never even instructed him in the first place. Basically I put an offer for a house that got accepted and the estate agent asked which solicitor I would be using. Not even 3 hours later the seller decided that she didnt want to sell anymore and that was that. 3 months later i received the bill for not completing lol. He is not my solicitor anymore and he didnt get the £190.00 either. They are all robdogs.


Title: Re: Estate Agents Fees
Post by: Jon MW on January 05, 2018, 12:50:01 PM
I worked at a Conveyancing company for a while. Almost every property purchase is incredibly trivial, I've been told (and it seems about right) that if you go via a 'proper' solicitor they just get their juniors to do it anyway. I was temping there for a year and I think there were 2 cases which actually required a legal mind to work out a problem.

We're hoping to buy our first house in the next year or two, we need a solicitor to process the Help to Buy ISA and I probably wouldn't have the self confidence to do the conveyancing myself anyway, but it is a depressing thought of having to deal with that side of it.


Title: Re: Estate Agents Fees
Post by: StuartHopkin on January 05, 2018, 01:19:14 PM
Paging Eso Kral, paging Eso Kral.

A good healthy juice would calm Mark down?


Title: Re: Estate Agents Fees
Post by: PokerBroker on January 05, 2018, 02:07:49 PM
Good job you weren't buying it then. Your mortgage arrangement and solicitors fees would probably be treble that.

I recently used a solicitor in S-O-T whos fees were £230 per hour and a London one who quoted double that. Welcome to the housing market.

Mortgage Arrangement fees not necessarily that is going to depend on the product chosen and size of the loan.  But they key thing is you wouldn't be paying someone else's mortgage or contributing to their pension plan. 

Solicitors on the other hand some of their fees are incredibly high for the work they do.  I always advise my clients to find their own solicitor through recommendation as invariably in the buying process most problems come up with solicitors and a good solicitor is worth their fee.  I'd argue the same for a good broker/IFA. 

I fell out with my solicitor, who was a property specialist, when i received a bill from him for a house purchase that never completed and further more I never even instructed him in the first place. Basically I put an offer for a house that got accepted and the estate agent asked which solicitor I would be using. Not even 3 hours later the seller decided that she didnt want to sell anymore and that was that. 3 months later i received the bill for not completing lol. He is not my solicitor anymore and he didnt get the £190.00 either. They are all robdogs.


I use a panel of conveyancers and one of the selling points of it is there is a no completion no fee. 

That is pretty poor from the estate agent.  I genuinely hate them.  I have one woman that hasn't been chasing me relentlessly for a mortgage offer from a particular lender.  I told the client at the outset the lender were terrible and wouldn't be my recommendation for a quick completion but she decided saving £212 over 2 years was worth it.  I got a slightly lower procuration fee as well on the 3rd bet option for her but would have been done and dusted by now.


Title: Re: Estate Agents Fees
Post by: DMorgan on January 05, 2018, 02:21:40 PM
My landlord at uni gave me a great piece of advice, go to the contract signing then say you need some time to go over it and take it away. The landlords home address will be on that contract, write them a letter offering to cover referencing and credit check costs and asking to meet for a coffee to discuss it.

9 times out of 10 you'll get a call back and both sides save a bunch of money just using a cookie cutter Assured Shorthold Tenancy contract.

Landlords in my experience have been more than happy to put in the couple of hours to sort out deposit protection/write an inventory for someone that they've actually met rather than shell out for an agent.

tbf to the landlords it does sound on the face of it like its a complicated business and the general incompetence of the letting agents makes it look even more so



Title: Re: Estate Agents Fees
Post by: Ledders on January 05, 2018, 06:23:44 PM
Estate agents are the absolute fucking worst and it's a worldwide issue.

My plan for world peace involves global dialogue and consensus that these pricks, regardless of their nationality, race, religious or political views, are the real problem.

I believe opposing sides in global conflict can find common ground that all estate agents are contemptuous arseholes and agreement on this can be the first step towards peace and harmony on this planet.


Title: Re: Estate Agents Fees
Post by: Woodsey on January 05, 2018, 06:50:32 PM
Never had a problem with them, at least you know up front what you are paying for. For the brief moments in my life I have rented it’s been landlords that have fucked me, I guess the fees are just a way of their time being paid for the viewings they do, many of which are fruitless for them.