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Remortgaging and conveyancing fees

watermelonblackberry
Posts: 9 Forumite

I've recently remortgage and switch to a better deal; it has now been completed. This has been my first time remortgaging, so was (and still am) a little unsure on how the process fully works.
I remortgaged for £147,182.00, but due to some delay with the conveyancers I paid another instalment to the old mortgage provider, and upon redemption the figure outstanding was £147,081.72 - a difference of £100.28.
The conveyancer used took this £100.28 and used it towards the overall costs of the legal fees - is this standard practise? I didn't think mortgage advances could be used in this way.
I remortgaged for £147,182.00, but due to some delay with the conveyancers I paid another instalment to the old mortgage provider, and upon redemption the figure outstanding was £147,081.72 - a difference of £100.28.
The conveyancer used took this £100.28 and used it towards the overall costs of the legal fees - is this standard practise? I didn't think mortgage advances could be used in this way.
0
Comments
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The alternative would be to transfer £100.28 to you and charge you £30-50 for the privilege and then you send them payment for their service.
I am a Mortgage AdviserYou 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.0
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