Remortgage Solicitors Fees

elljac

I hope this is the right place for my question......(First post!!)
We are in the process of remortgaging upto 80000 from 62000. Our broker has arranged everything for us and has just given us a breakdown of costs. He has supplied the solicitor for us and the fee is coming up at £650.00 + Vat (possibly an extra £150.00 if not straight forward). Is this a lot and also a friend has told me that we don't actually need a solicitor for a remortgage...
Any help or advise on this would be apreciate.

JennyW_2

not sure about a remortgage but we used a solicitor to switch mortgage companies.

Shop around though for prices though and get some quotes. I now use a solicitor in Liverpool, much cheaper than those based in the South East

AndrewSmith

Whether you use the lender's solicitor or one of your own you most definately do need the services of a solicitor to effect a re-mortgage.

That being said, there are some lenders that offer 'free legals' where they use their own solicitors and stand the cost for you.

I have no doubt that the mortgage product offered is correct for you, I or no-one here can comment otherwise as we are not privvy to all your information, and do no know what your needs / preferences are, unlike the broker.

However £650 inc is rather expensive for a mortgage of £80,000. I use a conveyancing service, for example , who charge £399 inclusive of all fees vat etc, for a remortgage.

Call a few local solicitors yourself and ask for quotes. Don't forget to ask them for their 'best price'.

Hope this helps

Andy