Accountants reference fee for mortgage

[Andrew@Wisteria]

I just re-mortgaged - got a reference for nothing from my accountant.
Find yourself a new accountants - the % fee is the stupidest thing I've ever seen.

It’s a little odd to say the least! Plenty of accountants do charge, and I personally don’t think it’s completely unreasonable to do so (if it’s clearly not within prescribed services paid for) - however we don’t charge in 99% of instances, in fact I can’t remember charging ever. Solicitors on the other hand.....!

[radish2008]

I just re-mortgaged - got a reference for nothing from my accountant.
Find yourself a new accountants - the % fee is the stupidest thing I've ever seen.

[philip@wellwoodhoyle]

We only charge if any actual work needs doing, i.e. if the mortgage broker wants forecasts or interim accounts. We don't charge for a simple confirmation of income based on accounts/tax returns already prepared.

[MrButton]

Interested to know who the accountant is incase anyone asks.

It would be interesting how they justify the cost relative to the property value as surely there won’t be liability (or more work) on their part.

[VillageContractor]

0.1%!???!! You need a new accountant. That’s very cheeky and wouldn’t surprise me if they were over inflating over services

[meridian]

InTouch did one for me earlier this year, no charge.

[doconline]

I’m remortgaging atm. Passed accountant details to bank. All approved. If the accountants tried to charge me I’d be getting a new accountant.

Quite agree, as if we were moving main residence (instead of buying a second property) it would cost nearly 50% of the legal fees, just for the reference.

[Lance]

I’m remortgaging atm. Passed accountant details to bank. All approved. If the accountants tried to charge me I’d be getting a new accountant.

[Alan @ BroomeAffinity]

I didn’t realise other accountants charged for this service. We don’t snd never have.

[doconline]

Hi,

I just wondered what people were paying for an accountants reference for mortgage applications. Last time I bought a property (2015), my accountant charged me £50+vat, just in the process of purchasing again and it's gone up to £125 or 0.1% of the purchase price (plus VAT), whichever is higher.

I can understand a small increase due to a couple of years passing since the last purchase, but I can't understand the % of the purchase price. I haven't seen a reference, as they are requested directly from the bank, but would think it is the same whether you are buying a £50k property or a £500k one?