solicitors??

*Sparkle*_3

Hello,

I'm getting a remortgage (my first time i've done this).

I am buying the other half of my shared ownership property.

Few questions....

Will solicitors fee's be as much as they were when we first brought the property?

Whats the average cost of solicitor's fee for a remortgage?


Thanking you in advance

AndrewSmith

Hi Sparkle,

I think in the situation where you are not only paying off an existing mortgage but also a housing association, your best action is to thumb the yellow pages or Yell.com and get 3 quotes having explained in full to the solicitor exactly what your situation entails.

Even though I work in the industry I, for one, would hate to hazzard a guess at what the costs could be as I don't know the legal work involved with the Housing Association aspect.

Best in my opinion to hear it directly from those who actually know for sure, your local solicitors.

Hope this helps

Andy

*Sparkle*_3

Thanks again andrew!

I've got one at £500 just for their fees, will ask a few others.

AndrewSmith

Pleasure

rach29

Who is your remortgage with? Many Banks & Bsoc's have their own solicitors for this kind of transaction. Also many can & do offer "fees free" remortgage deals where the solicitors bill is picked up b y them. Talk to your broker or mortgage provider to find out if this is a possibility

AndrewSmith

This is not a straight forward remortgage though rach29, as it involves an actual purchase of a percentage of the property, thus you will need your own solicitor.

Andy

Jorgan_2

It may be worth speaking to the solicitors who acted for you in the purchase of the property. They will have knowledge of how the HA work & what is expected of them.

*Sparkle*_3

thanks jorgan but no thanks!!!
3 years later i have just got back my stamp duty fee i paid when we first purchased the property, it was and always had been excempt from paying stamp duty and the orginal solicitor should have known this, she finally gave me a cheque after i threaten i'd report her to law society.
So i'm looking for a new solicitor.

Jorgan_2

I did say 'may' be worth speaking to. Glad you got your money back for the stamp duty. You may be surprised how many solicitors, EA etc don't know about the exemptions. I didn't when I bought mine (I am an EA, but I had moved nearly 200 miles), my solicitor didn't & the Inland Revenue reckoned my post code wasn't exempt, their web site also showed I wasn't. If it hadn't been for the site agent being adamant about I wouldn't have pursued it. Did you get any interest back? I did.

Back to solicitors, speak to solicitors in your local areaand ask if they have dealt with the HA. Again they will know whats expected of them.

*Sparkle*_3

Thanks.

Yeah it was down to me hasseling them for a refund,i found out via their website 3 years later, to be fair the solicitor said the inland rev told her to pay it.
I didnt get the interest back i was just glad to get the money back in the first place.

mummytofour

Grrr shared ownership, hope they sort it all out for you a lot quicker than they so far have for us, lost count now somewhere in week 17 I think...