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£250 - legal fees on behalf of the lender payable my your solicitor on completion

vikashkumar23
vikashkumar23 Posts: 23 Forumite
Seventh Anniversary 10 Posts
in House buying, renting & selling
Hi,

I am in the process of getting a mortgage and I got mortgage illustration from my finance advisor.

He mentioned "£250 - legal fees on behalf of the lender payable my your solicitor on completion"

This is new to me as I have never see this before in any of my previous mortgage illustration for my current and past home. 

Have any one came across such item? 

My advisor said that my solicitor conveyancing fee will include this £250 but I dont believe.

My solicitor is gonna say that I need to pay this on top of current quote which is already £2144. 

Comments

  • user1977
    user1977 Posts: 19,644 Forumite
    Eighth Anniversary 10,000 Posts Photogenic Name Dropper
    vikashkumar23 said:

    Have any one came across such item? 

    My advisor said that my solicitor conveyancing fee will include this £250 but I dont believe.

    Yes, if you're buying with a mortgage then it's normal that your solicitor also acts for your lender, and generally that's just built into the legal fees.

    For the purposes of the mortgage costs illustration they need to show some sort of figure there as legal fees are unavoidable, but it doesn't mean your solicitor is going to chuck on an extra £250.
  • BarelySentientAI
    BarelySentientAI Posts: 2,448 Forumite
    1,000 Posts Name Dropper
    vikashkumar23 said:

    Have any one came across such item? 

    Yes, almost always.
  • propertyrental
    propertyrental Posts: 3,391 Forumite
    1,000 Posts First Anniversary Name Dropper
    It is usual for a mortgage applicant to pay the lender's legal fees.
    In some cases banks offer free legal fees as part of a particular mortgage package - I don't know how common this is anymore.
    But the bottom line is that when you get quotes from solicitors for your conveyancing, make sure you check what is or is not included.
    Mortgage legal fees, or dealing with the lender, are just one of the potential 'add-ons' especially with the cheaper conveyancing warehouses which quote low fees to get your business but then add things like completing the SDLT form, dealing with freeholder, dealing with mortgage, as extras that will be listed separately in the terms of business.
  • kingstreet
    kingstreet Posts: 39,465 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    It's included on an illustration because work done for the lender forms part of the APRC calculation. It IS included in your conveyancer's cost quotation and ISN'T a separate charge.

    Our sourcing system includes it for some lenders but not for others. We make a point of obtaining the "final" illustration from the lender's website for the avoidance of doubt.

    If you aren't going to trust your chosen broker's explanation for such a minor point, should you really be using them?
    I am a mortgage broker. You 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. Please do not send PMs asking for one-to-one-advice, or representation.
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