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Fees for valuation and solicitors
bextor
Posts: 12 Forumite
Hi
we have just come out of a two year fixed deal and have not arranged a new deal with anyone yet. We have gone onto the standard tracker rate with our lender and plan to wait a few months and hopefully the rates will drop and we can fix onto something better.
My question is can anyone tell me roughly how much solicitiors fees and valuation fees cost if we move to another lender? This is the first time i have had to get a new mortgage because we were first itme buyers last time so any advice gratefully recieved!
thanks bex
we have just come out of a two year fixed deal and have not arranged a new deal with anyone yet. We have gone onto the standard tracker rate with our lender and plan to wait a few months and hopefully the rates will drop and we can fix onto something better.
My question is can anyone tell me roughly how much solicitiors fees and valuation fees cost if we move to another lender? This is the first time i have had to get a new mortgage because we were first itme buyers last time so any advice gratefully recieved!
thanks bex
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Comments
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You can get free legals and valuations with some lenders. Speak to a broker.0
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It all depends on your situation. "Prime" Lenders mostly offer fees assisted deals - usually either the leglas or valuation, sometimes both. You usually pay for this in the rate so its worth checking to see if there are any lower rate deals where you pay the fees and compare the two to work out the overall cost.
Sub-Prime lenders have reigned in these offers of late and so you end up paying the full wack again in 90% of cases. Solicitors fees should cost no more than £300 for a standard re-mortgage. Vals are on a sliding scale dependant on the estimated value. £250ish would be an average.0 -
If you cant get free legals, easier to move (who I think are very good) are doing a remortgage of £345 all in. This is good as the next best quotes were £425 (Easier to move before this monday as its a special) and then £525.
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You need to source some new solicitors Dan!
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Just a though, why not get a mortgage with no redemption such as an Abbey Flexi, it will be cheeper than the SVR rate your on. then when some good deals become available you can switch.
I cant believe people on prime product are still paying fees! there are plenty of products about with free val and free legal.
Dan, £345 sounds high to me!!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 advisers code of conduct. Any posts on here are for information and discussion purpose only and shouldn't be seen as financial advice.0 -
I just moved to a new deal in March, the deal got free valuation and legal fees thanks for my mortgage advisor. I wouldn't have thought to ask!Thanks for the advice Martin! :money:Member no. 920 - Proud to be dealing with our debts0
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