Do I NEED a solicitor?

chrism00

i am about to start the house buying process and am wondering do i actually need a solicitor.

Im currently renting and have the chance to buy my home at a discount (right to acquire). The house has been independantly valued and as I work for the landlord company I know that any land searches etc would come up clean.

I am on a very limited budget so am looking to save as much as possible on the up front costs, but this chance to buy really is too good to miss.

Thrugelmir

Do you require a mortgage?

chrism00

I have an appointment at the BS on friday to sort out my mortgage.

Joe_Bloggs

Enquire locally about good conveyancing solicitors. You employ them to advise you about potential pitfalls and to explain legal jargon. Your solicitor works for you. Don't get bounced into buying where you rent. There may be big bills in the pipeline from the overall leaseholder of the property.
J_B.

Thrugelmir

Joe_Bloggs wrote: »

. Your solicitor works for you.

Also the solicitor represents your lender. Which is why I asked if you required a mortgage. As even if you don't use one they will require one.

chrism00

I was hoping to avoid paying any solicitors at all.

I know the default is to get a solicitor in who will handle conveyancing/searches etc, but as i know the are no search problems and no leasehold charges I was just wondering if it was possible to avoid solicitors altogether.

Thrugelmir

chrism00 wrote: »

I was hoping to avoid paying any solicitors at all.

I know the default is to get a solicitor in who will handle conveyancing/searches etc, but as i know the are no search problems and no leasehold charges I was just wondering if it was possible to avoid solicitors altogether.

You are missing the point. A lender is going to advance you a considerable sum of money to purchase a property. They will require assurance that the property is suitable security for the advance. Also that the individual handling the advance prior to completion isn't going to disappear with the money!

blueberrypie

chrism00 wrote: »

I have an appointment at the BS on friday to sort out my mortgage.

The Building Society will only be able to advise (i.e. sell) you on its own products. It's a bit like buying double-glazing from the first person you get a quote from. The odds of you getting the best possible deal are not in your favour.

chrism00

blueberrypie wrote: »

The Building Society will only be able to advise (i.e. sell) you on its own products. It's a bit like buying double-glazing from the first person you get a quote from. The odds of you getting the best possible deal are not in your favour.

Thanks, but Ive done all the research and this BS (Britannia) offers me the best deal (for my circumstances).

chrism00

Thrugelmir wrote: »

You are missing the point. A lender is going to advance you a considerable sum of money to purchase a property. They will require assurance that the property is suitable security for the advance. Also that the individual handling the advance prior to completion isn't going to disappear with the money!

So it would be the BS insisting that I pay for a solicitor to act on their behalf as a condition of the mortgage, rather than any legal requirement on my part to have a solicitor?

Joe_Bloggs

At Thrugelmir.

Also the solicitor represents your lender.

My Solicitor represented my cause and not my building societies or banks because I paid their fees and nobody else did.

With a remortgage their may be fees to pay and 'free' or paid for legal work by a bank or building society. I may be just too trusting to believe that a solicitor would actually act for my interests rather than the interests of a massive financial institution given the 'free' or paid for legal work. If you want a solicitor to act in your interests then you must pay them. I can't complain about anything but I can comment.
J_B.