Solicitors Fees?

We are thinking of moving our mortgage but will incur solicitors fees. Can anyone tell me how to work out approximately how much we would be expected to pay for these fees. ie is it normally a percentage of the amount borrowed.

Thanks

Replies

  • dunstonhdunstonh Forumite
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    It varies depending on your region. A fixed fee is the ideal solution and the best way to find out is phone around several solicitors to compare.
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • paylesspayless Forumite
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    some lenders have remortgage deals that include the basic legal work, or some give a contribution towards legal costs- although in some cases it worth paying your own and getting a lower rate

    Costs will vary - seen as low as £350 ( inc extras) from some internet sites although make sure you get an total figure.
    Any posts on here are for information and discussion purposes only and shouldn't be seen as (financial) advice.
  • Fairdo_2Fairdo_2 Forumite
    442 Posts
    There was a thread a while back now that asked for comparison of these intenet/postal/telephone firms (I like to call conveyor belt conveyancers - has a ring doesn't it!!!???)

    I am sure there were several firms being quoted at £300. I'm sorry that I can't remember the title of the thread. (I think it was something as simple as "Can anyone find a cheaper solicitor" or "Got solicitor for £300, can anyone find cheaper")

    However, as payless rightly says, I think the average tends to be £350.

    I personally haven't found cheaper and have not had the time to trawl, as mortgages are my bag and I either recommend people visit local solicitors with good reputation and pay for what they get, or that they look at fees assisted deals.
    I am a Mortgage Adviser
    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.
  • herbiesjpherbiesjp Forumite
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    Have to agree with Fairdo - you get what you pay for normally.

    Cheaper does not necessarily mean better - have a word with some local firms and compare prices. Ask some friends if they have had dealings, good or bad, with any firms - they may then point you in the right direction
    I am a Mortgage Adviser
    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.
  • GreenB_2GreenB_2 Forumite
    125 Posts
    From experience it's ben about £350 + Expenses (search etc) + VAT.

    To be on the safe side I would budget £500 total and then you can always go for a meal with the change!
  • SystemSystem Forumite, Community Admin
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    Thanks for the replies. I have recently changed jobs to work for a bank and I may be entitled to a staff mortgage but with the Revenue charging 22% as it's classed as a Benefit in Kind and the possibility of having to pay solicitors fees to move from the Woolwich tracker we are currently on I'm not sure if there will be any significant saving. I'll just have to wait until I get a quote for the mortgage from my employer.
  • If you're happy with the conveyor belt style of conveyancing and shop around you should be able to get it done cheaply.

    For remortgage customers we've got an all inclusive deal in place at £280 (upto £100k mortgage), £300 (upto £200k mortgage) & £330 (upto £500k mortgage). (+ £75 if leasehold). It's a lost leader so expect to pay a little bit more than this.
    Please note that whilst I am a mortgage broker my comments on this site are intended as general discussion and NOT personalised mortgage advice. Please click on my name and follow the link to see a full regulatory disclosure.
  • paylesspayless Forumite
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    If you're happy with the conveyor belt style of conveyancing and shop around you should be able to get it done cheaply.

    For remortgage customers we've got an all inclusive deal in place at £280 (upto £100k mortgage), £300 (upto £200k mortgage) & £330 (upto £500k mortgage). (+ £75 if leasehold). It's a lost leader so expect to pay a little bit more than this.

    Confused - if all inclusive, why expect to pay more?
    Any posts on here are for information and discussion purposes only and shouldn't be seen as (financial) advice.
  • Hi Colin, sorry badly phrased...

    What I mean is, expect to pay a little more than this when shopping around as the prices above are what we offer as a lost leader.

    I've always found cheap legal fee packages fine for remortgage business but would recommend using a local solicitor for sale & purchases.
    Please note that whilst I am a mortgage broker my comments on this site are intended as general discussion and NOT personalised mortgage advice. Please click on my name and follow the link to see a full regulatory disclosure.
  • paylesspayless Forumite
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    I've always found cheap legal fee packages fine for remortgage business but would recommend using a local solicitor for sale & purchases.

    tend to agree
    Any posts on here are for information and discussion purposes only and shouldn't be seen as (financial) advice.
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