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Post Office Mortgage Advice - First Time Buyer
NickF07
Posts: 1 Newbie
Hi all,
My wife and I have a Post Office Mortgage (underwritten by BOI UK) agreed and have the paperwork to sign. So far, we have paid our broker fees and a for a homebuyer report via them.
My main concern is whether to carry on with this due to recent press, etc. However, ours is fixed for 5 years so cannot be affected.
Also, what is the rule regarding the legal fee payable to their solicitor. It is £258.00 on the paperwork but it states it may be higher. We were told this is not applicable by our Broker so a little concerned why it is on paperwork.
My wife and I have a Post Office Mortgage (underwritten by BOI UK) agreed and have the paperwork to sign. So far, we have paid our broker fees and a for a homebuyer report via them.
My main concern is whether to carry on with this due to recent press, etc. However, ours is fixed for 5 years so cannot be affected.
Also, what is the rule regarding the legal fee payable to their solicitor. It is £258.00 on the paperwork but it states it may be higher. We were told this is not applicable by our Broker so a little concerned why it is on paperwork.
0
Comments
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Broker fees? For a Post Office mortgage?
Did you appoint your broker on an independent basis, with a fee payable for the advice only?
The fee for the lender's legal work is shown on the KFI because it forms part of the APR calculation. It is not a chargeable extra. Your solicitor quotes you his costs and that quote includes the lender's legal work. Your broker is correct.I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0
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