Broker's solicitor quotes?

pickles13

Another question (I seem to have one a day at the mo!)

Due to our chosen solicitors not being on the approved list for Bank of Ireland, we have had to search for another. Our mortgage broker today sent us some quotes that he had found but when I go on to the solicitors websites myself and request a quote, they are all several hundred pounds cheaper. Are they generally more expensive when going through a broker?

Ta!

ACG

It would depend on the broker and also potentially the information entered.

Personally I agreed a discount with the solicitor I use for my clients as I would rather my clients use her because shes good. But some brokers either just do it at cost or put on some sort of kick back. Go back to your broker and show them the quotes you have and ask if he can get his quotes back down or if you want to see an awkward conversation you could ask why they are so much more expensive.

GMS

Broker quote will be all inclusive, ie searches and disbursements. Ensure any quote you get on line is not just legal costs.

pickles13

ACG, when this happened with the last solicitor (that we now can't use as they aren't on the approved list), I did ask the broker why there was such a difference and sent him the quote I had received. He agreed that it was much cheaper and suggested we use them independently of him. If he is getting a fee from the solicitor, I really would not mind as he has done so much work for us (and he is no-fee from us) but would like him to say so.

kingstreet

If a referral fee is paid to the broker or anyone else, it has to be shown on the quotation from the solicitor.

We're like ACG. We use firms we trust and get lower fees for our clients, not kickbacks for ourselves.