Remortgage with Help to Buy redemption solicitor costs

jaxkesa

I'm looking to remortgage my leasehold property with my existing lender to pay off the Help to Buy loan in full.

I understand Nationwide offer free standard legal fees but I don't think this covers leasehold properties or Help to Buy. So I think I need to appoint my own solicitor.

I've had quotes for around £800, does this sound normal? It does seem a lot considering i'm not changing lender or selling the property.

kingstreet

You aren't remortgaging you are asking your existing lender for a customer retention product and further advance/increased borrowing.

Under such circumstances you don't normally qualify for the free legals or cashback offer.

Solicitor costs will vary by firm and area. Can only suggest you obtain quotes from different firms/places.

jaxkesa

Thanks Kingstreet, I was under the impression it was always a remortgage if you were borrowing more money on your property but that's not the case. I've got a lower quotes now.