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Solicitor charge for arranging own insurance

HardSpend · 2015-04-09 21:30:52

Hi I'm about to buy a new house and my solicitor wants £97 if I arrange my building insurance myself instead of getting the lender to do it. They say it's because Santander or any other lender will make sure the solicitor verifies the insurance whereas if it was through the lender they wouldn't have to do this. Does this…

Comments

kingstreet Posts: 39,375 Forumite

12 April 2015 at 8:41AM

Many solicitors include such items in their headline fee, such as insurance, SDLT return and acting for mortgage lender.

However, others quote a lower headline fee, then add extra charges down the page for all these items to make the client think they are similar to the disbursements.

It's essential to compare like with like and as eddddy said, a chunk of what you pay is going in the EA referrer's back pocket, so finding your own solicitor will normally be a lot cheaper and you'll usually get a much better service.

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.
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