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Author Topic: Estate Agents Fees  (Read 3265 times)
Mark_Porter
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« 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.
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Mark_Porter
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« Reply #1 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
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mikeymike
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« Reply #2 on: January 02, 2018, 05:53:06 PM »

Glad you got that off your chest then.
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Mark_Porter
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« Reply #3 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.
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celtic
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« Reply #4 on: January 02, 2018, 08:43:52 PM »

Letting agents, not estate agents 😁
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« Reply #5 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 Tongue
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ripple11
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« Reply #6 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
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StuartHopkin
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« Reply #7 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!
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tikay
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« Reply #8 on: January 05, 2018, 09:13:20 AM »


Paging Eso Kral, paging Eso Kral.
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Mark_Porter
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« Reply #9 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.
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Kev B
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« Reply #10 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.
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PokerBroker
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« Reply #11 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. 
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« Reply #12 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.
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Jon MW
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« Reply #13 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.
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« Reply #14 on: January 05, 2018, 01:19:14 PM »

Paging Eso Kral, paging Eso Kral.

A good healthy juice would calm Mark down?
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