Remortgage Conveyancing

tripled

When we purchased the property, we used a local firm and were generally happy with the service. We're now at the point of remortgaging and have gone through L&C, who have referred us to a conveyancing firm on their panel that are based up north (we're in the south).

Aside from price, assuming they are both on the lender's panel, are there any advantages or disadvantages to sticking with the same local conveyancers compared to going with one on the brokers' panel?

K_S

tripled said:

When we purchased the property, we used a local firm and were generally happy with the service. We're now at the point of remortgaging and have gone through L&C, who have referred us to a conveyancing firm on their panel that are based up north (we're in the south).

Aside from price, assuming they are both on the lender's panel, are there any advantages or disadvantages to sticking with the same local conveyancers compared to going with one on the brokers' panel?

@tripled No huge advantage besides a fixed fee price which can (often) be as low as £200-250 (normally more than covered by cashback) and hard for smaller firms to match. L&C will get a £25-50 cut of this fee.

tripled

K_S said:

tripled said:

When we purchased the property, we used a local firm and were generally happy with the service. We're now at the point of remortgaging and have gone through L&C, who have referred us to a conveyancing firm on their panel that are based up north (we're in the south).

Aside from price, assuming they are both on the lender's panel, are there any advantages or disadvantages to sticking with the same local conveyancers compared to going with one on the brokers' panel?

@tripled No huge advantage besides a fixed fee price which can (often) be as low as £200-250 (normally more than covered by cashback) and hard for smaller firms to match. L&C will get a £25-50 cut of this fee.

Thanks The supposedly fixed fee for L&C's conveyancer is £299 and L&C get £150 cut. However, in their opening email they already tried to stick another £42 on, and two working days after I queried it haven't responded, which is raising some red flags!

I did wonder if, given the local firm already have our records, if there are any advantages in using them instead, particularly if they are comparably priced. If that's not the case, then I'll give L&C's firm a little longer before shopping around.

tripled

After no response, I chased the firm (O'Neill Patient Solicitors LLP) and asked them to confirm the expected charges. They removed the £42 charge, but the provisional statement they provided had an added £24 fee for money laundering checks. They also attached a long list of other potential charges, and a subsequent email suggested there is likely to be a £32.50 "telegraphic transfer" fee.

I have asked the conveyancing firm to confirm that the provisional statement includes all likely charges for work that will be required for the remortgage, and query why they are not included in the fixed fee. Given the fixed fee offer was made by L&C along with the mortgage advice, and so formed part of my decision to go ahead, I have also raised a formal complaint to them.

If there are firms out there supposedly doing fixed price remortgage conveyancing for £149 (£299 minus L&C's £150 cut), are there no alternatives out there that can genuinely do the work for sub £300 direct?

TheLocum

Oh dear, another cautionary tale I hear so often. If only people knew there was no free or cheap legal fee on a remortgage. If offered always decline and use a proper, professional Solicitor. In the long run you will find that is best.

tripled

TheLocum said:

Oh dear, another cautionary tale I hear so often. If only people knew there was no free or cheap legal fee on a remortgage. If offered always decline and use a proper, professional Solicitor. In the long run you will find that is best.

I tried emailing the local legal firm we used when purchasing to ask for an estimate, but they never replied.

We've dumped O'Neill and picked another through MoneySupermarket/Optimus. However, it seems much the same - the initial quote was a "fixed" £300, when I asked Optimus to confirm the costs it became a "fixed" £325, which has now become an "estimate" from the conveyancer. However, some of the things that O'Neill were trying to charge for are itemised and included in the estimate, and they haven't tried to lump anything else on yet, so we at least seem to be in a better starting position.

chanz4

tripled said:

TheLocum said:

Oh dear, another cautionary tale I hear so often. If only people knew there was no free or cheap legal fee on a remortgage. If offered always decline and use a proper, professional Solicitor. In the long run you will find that is best.

I tried emailing the local legal firm we used when purchasing to ask for an estimate, but they never replied.

We've dumped O'Neill and picked another through MoneySupermarket/Optimus. However, it seems much the same - the initial quote was a "fixed" £300, when I asked Optimus to confirm the costs it became a "fixed" £325, which has now become an "estimate" from the conveyancer. However, some of the things that O'Neill were trying to charge for are itemised and included in the estimate, and they haven't tried to lump anything else on yet, so we at least seem to be in a better starting position.

tripled said:

TheLocum said:

Oh dear, another cautionary tale I hear so often. If only people knew there was no free or cheap legal fee on a remortgage. If offered always decline and use a proper, professional Solicitor. In the long run you will find that is best.

I tried emailing the local legal firm we used when purchasing to ask for an estimate, but they never replied.

We've dumped O'Neill and picked another through MoneySupermarket/Optimus. However, it seems much the same - the initial quote was a "fixed" £300, when I asked Optimus to confirm the costs it became a "fixed" £325, which has now become an "estimate" from the conveyancer. However, some of the things that O'Neill were trying to charge for are itemised and included in the estimate, and they haven't tried to lump anything else on yet, so we at least seem to be in a better starting position.

they seem very slow, Im using them at the moment

pink_pirlie

I had the same issues with ONP via L&C. I emailed to ask for a full quote with all disbursements, and after a week I hadn't had a reply so I sent an email to say I didn't want to go with them and why, and within 5 mins they had replied saying it was because they had been on holiday and they would send the quote through - didn't believe it for a second.
Either way, I have now gone with a local firm after declining the quote.

They are about £200 more on paper, but at least I know they are brilliant and my remortgage is going to be smooth and stress-free from a conveyancing point of view.