How much for mortgage advisor/ conveyancing

Legacy_user

Yesterday I finally got my Right to Acquire offer. The house was valued at £82,000 with £9,000 RTA discount so £73,000. I have an adverse credit history so looking at having £7400 cash to make it 80% LTV mortgage application so will be looking for mortgage of £65,600 on £26,000 basic salary before enhancements.

What i cant find is how much i need for adverse mortgage broker and conveyencing???? Theres a local conveyencer that had a set fee offer of £795 is that good? I havent got a clue whats reasonable for a broker.

ashe

Google for connveyancing quotes and you will get some comparison sites that will quote you, and show you review scores. Compare these with some local firms. £795 sounds a lot, but I don!!!8217;t know if there is more work in your right to acquire scheme and that is why

As a guide I just paid £500 for a 60k house sale and £1000 for a £230k house purchase, excluding stamp duty.

Broker costs are a piece of string as they vary, some will work on comission from lender and/or you taking our insurance through them. Ask friends for reccomendations

System

i think the rta is quite straightforward tbh. Just seems a case of accepting offer; getting mortgage and doing the legal checks then the house is mine.

I was going to put my savings in a htb isa but that seemed to increase the cost of solicitor so might not bother.

I have googled quite a lot. just seem to end up with thousands of spam emails to read through.

ashe

A htb isa will only increase solicitors costs by up to £60, you would gain 25% on initial deposit and any monthly contributions until it!!!8217;s closed so well worth looking at

ashe

Sent you a PM!

ACG

Does the £795 include disbursements? If those are on top, then it is a little on the high side.

In terms of brokers, you do not say what adverse you have. Some people say they have adverse and I think they are clean, others say adverse and it is a massive understatement. As a general rule of thumb you would be looking at between £500-1500 for someone who does a lot of adverse.

System

adverse as in a ccj from july 2015 for £1997, default dec 2012 £231 and default dec 2012 for £345

im also on nurse bank too which complicates things but thinking of just getting a contract for mortgage purpose.

ACG

Our fee would be £999 chargeable on full offer, we are middle of the road when it comes to adverse broker fees. The defaults alone could be overcome easily enough. The bank staff mixed in might make it a little more difficult, but not necessarily.

System

that sounds great ACG and what would the fee be if you werent to successfully find me a mortgage?