Remortgaging Legal Fees

1196rachel

Hi,

I'm considering leaving my current lender, before the end of my fixed rate, so I can get into another fixed rate offer now, in case the rates go up massively.

Have been looking into a 'fee free' remortgage deal, but have now found out this does not cover legal / solicitor's fees.

Does anyone know how much these are likely to be? OK, probably a difficult one - but is it a couple of hundred pounds / nearer £1000 / over £1000?

And if I go with the lender's choice of solicitor (as I agreed to) will this make it even more expensive?

Never realised there was SO much to consider!

Thanks!

sarkin

Some lenders will offer free legals but you may not get the best rate you have to do the numbers. Interest rates are looking to go up but only .25% may be up .5% by the end of the year. Howmuch is your redemption fee and when does your tie-in finish.

herbiesjp

When does your current fixed rate deal expire? What are the penalties for leaving early?

Normally fee free deals will include free legal fees - if the one you are looking at does not, there are plenty of deals out there that do include free legal fees

MortgageMamma

Which lender and deal were you looking at where you would have to pay own legals?

1196rachel

My deal ends in November, and there's about £300 to pay to leave early. I think, from looking at the small print, that the new lender would only charge legal fees if there was something complex to deal with (e.g. adding another borrower to the mortgage), so it looks as though I might get it fee free after all.
I think that the over cautious warnings from the saleswoman made me concerned unnecessarily.
I was thinking of going into a 10 year fixed rate - at least then I know what I'm paying for some time to come.
(Thanks for the postings, sorry it's taken me some time to be able to come back)