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Remortgaging & Solicitors fees
dougied85
Posts: 8 Forumite
Hi all,
I'm currently in the process of trying to do a remortgage to a) get a fixed rate and b) consolidate a build-up of unsecured debt. The problem I have is two-fold:
1) Credit rating isn't great, hence I'm having to look at specialist lenders
2) The specialist lender is stipulating that the solicitor (which has to be on their panel of approved solicitors) must be the one who pays off the unsecured debt.
As a result of No. 2 above, the cost of legal fees is sky-high - I'm being asked for over £550 in bank transfer fees and £240 to request redemption figures from our lenders.
Has anyone else had these excessive legal costs before? I can't believe making a few bank transfers costs that much, and I don't see why I should pay the solicitor to get redemption figures from the lenders when I can provide that to them myself.
I'm currently in the process of trying to do a remortgage to a) get a fixed rate and b) consolidate a build-up of unsecured debt. The problem I have is two-fold:
1) Credit rating isn't great, hence I'm having to look at specialist lenders
2) The specialist lender is stipulating that the solicitor (which has to be on their panel of approved solicitors) must be the one who pays off the unsecured debt.
As a result of No. 2 above, the cost of legal fees is sky-high - I'm being asked for over £550 in bank transfer fees and £240 to request redemption figures from our lenders.
Has anyone else had these excessive legal costs before? I can't believe making a few bank transfers costs that much, and I don't see why I should pay the solicitor to get redemption figures from the lenders when I can provide that to them myself.
0
Comments
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It looks like you need to find yourself another lender, or failing that another solicitor.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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