Solicitors

ellyp95

Hi

Our valuation is on Tuesday, and have been told now is the time to instruct our solicitors to start their searches, etc. We have chosen to go with Raleys, it is a no completion no fee service, so if for any reason we don't complete they do not charge us for their time. We have paid a £200 initial fee which I don't think we get refunded if they do start the searches. I was hoping to wait until we got our mortgage application back with an 'approved' before starting with the solicitors so we wouldn't have too much wasted money.. I realise that waiting for the mortgage offer before starting the solicitors side of things will delay the process but if we don't end up with a mortgage offer we will have wasted almost £350! (Valuation fee and initial solicitors fee) What do people think?

Thanks

Thrugelmir

ellyp95 wrote: »

Hi

have been told now is the time to instruct our solicitors to start their searches, etc.

Who told you to do this?

Search fees are no refundable as these are actual costs incurred for obtaining them.

ellyp95

@thrugelmir the estate agents and my mortgage broker have both said the searches should be started now. I thought we would be able to wait until we actually have a official mortgage offer though.

Thrugelmir

ellyp95 wrote: »

@thrugelmir the estate agents and my mortgage broker have both said the searches should be started now. I thought we would be able to wait until we actually have a official mortgage offer though.

Don't feel pressurised. Personally I wouldn't instruct solicitors to take any action until a mortgage offer is made. The solicitors will hold the search funds until the light turns green. If no offer is made then the monies will be returned to you.

ellyp95

Ok, thank you very much. I feel much better now I know I don't have to instruct them yet. Hopefully won't be much longer until we find out how our application/valuation has gone!

amnblog

The Estate Agent is not paying for the searches so is naturally keen for you to get them moving.

ellyp95

@amnblog that is what I thought, it was the fact that my mortgage broker said this is the time to get the solicitors started with their jobs that made me wonder. Thanks

amnblog

Ditto the broker. They don't happen to work in the Estate Agency do they?

ellyp95

Ah yes. He doesn't actually work within the estate agents but their companies are somehow partnered. Thanks for your replies

Senior_Paper_Monitor

You can now see who the estate agent and broker are working for - and what there relationship is !!


... and where did you select the solictor from ?

amnblog

Wait for it!...