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JGM, Solicitor
Category: Scots Law
Satisfied Customers: 11274
Experience:  30 years as a practising solicitor.
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I have a standard security on a property and I was coerced

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I have a standard security on a property and I was coerced into signing a minute of agreement otherwise the other party would pull out...however,the other party has died and her estate is being wound up,the property is sold and now the discharge has started. the m.o .a . states interest calculated at a rate of 3.5 % per this a compound interest....and also it says ...each party shall be responsible for their own fees and outlays to be incurred in connection with the negotiations,preparation and registration of this agreement and standard security....I had to pay £670 FOR THIS ...can I claim for the DISCHARGE FEES and anything else?
Thank you for your question.

3.5% per annum is not compound interest: it is taken as being calculated on a daily basis in the same way as a standard mortgage is calculated.

You can usually charge a fee for signing the Discharge. Typically a commercial lender would charge between £60 and £150.

Happy to discuss further.

I hope this helps. Please leave a positive response so that I am credited for my time.
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