Solicitors for re-mortgage?

1399steve

Hi all, I'm about to re-mortgage for the first time and just found out that I need a solicitor for this, which I didn't realise.

What does a solicitor do on a re-mortgage and roughly what would I expect to pay?

Cheers!

GMS

Some lenders offer free legals on their products.

Phone a couple of solicitors and get quotes. Make sure you get an all inclusive quote, not just for the legal work.

1399steve

Thanks - what do you mean by all inclusive quote though?

Thrugelmir

Your lender will use a panel of solicitors. The solicitor choosen will represent both your interests and that of the lender. So if you opt for your own choice , you'll still be liable for the solicitors costs.

The solicitor handles the transfer and placing of the legal charge on the property, i.e. the mortgage. As the property is the security for the money advanced.

GMS

1399steve wrote: »

Thanks - what do you mean by all inclusive quote though?

Not just the cost of the legal services. Make sure it includes searches, land reg fees, TT fees etc