We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
PLEASE READ BEFORE POSTING: Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.
We're aware that some users are experiencing technical issues which the team are working to resolve. Thank you for your patience.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
legal fees, mortgage/purchase
Options

babydragon64
Posts: 1 Newbie
Hello everyone
I own outright a flat and currently rent a home for myself. I am remortgaging the flat which is currently tenanted (buy to let mortgage) to raise the funds to put 40% deposit on a house. The fees involved will be fairly high as I will have to pay stamp duty on my house purchase (even though the purchase price is well under £100k). This will be my last chance to buy a house as I am in my early 50s and only have 15 or 16 years of working life left, but I am tired of shelling out rent when it is actually possible for me to own my own place. I am unable to live in the flat for various reasons and would like to keep it as an income generator.
I also need to make a will (I am single and have no dependents) so need to be clear about my wishes for my assets when I die. Does anyone think that the same solicitor could take care of all legal matters involved here (remortgage, house purchase and making a will) as part of the same package and maybe save me money on costs. It is 25 years since I purchased the flat and the world has moved on so much since then and being single means that I have to be careful with the little cash I have.
Any advice would be appreciated.
cheers
I own outright a flat and currently rent a home for myself. I am remortgaging the flat which is currently tenanted (buy to let mortgage) to raise the funds to put 40% deposit on a house. The fees involved will be fairly high as I will have to pay stamp duty on my house purchase (even though the purchase price is well under £100k). This will be my last chance to buy a house as I am in my early 50s and only have 15 or 16 years of working life left, but I am tired of shelling out rent when it is actually possible for me to own my own place. I am unable to live in the flat for various reasons and would like to keep it as an income generator.
I also need to make a will (I am single and have no dependents) so need to be clear about my wishes for my assets when I die. Does anyone think that the same solicitor could take care of all legal matters involved here (remortgage, house purchase and making a will) as part of the same package and maybe save me money on costs. It is 25 years since I purchased the flat and the world has moved on so much since then and being single means that I have to be careful with the little cash I have.
Any advice would be appreciated.
cheers
0
Comments
-
They might be able to depending on their expertise.
But they'd still be doing the additional work so i can't imagine most would offer you much of a cost saving.0 -
I doubt it would be cheaper, but it might be more convenient.
Does this solicitor specialise in conveyancing? In Wills & Probate? Both? Neither?
Find one you like who does both - their websites will tell you, or use the search function here.
As for the mortgage, solicitors don't arrange these. You need an independant mortgage broker.
But solicitors do act for lenders with regard to the legal aspects of setting up the mortgage, so check your preferred solicitor is on the panel of your selected mortgage lender.0 -
Some lenders include the legal work in their Remortgage Arrangement fee, and appoint their own solicitor. (Although, they tend to call it 'free legal services' rather than 'included in the fee'!) So check with your lender first.
Are you planning a complex will? If not, take a look at this:
http://www.moneysavingexpert.com/family/free-cheap-wills
As you have no dependents, are you leaving some of the money to a charity? As the article says, the charity might have a scheme where they offer a solicitor's will writing services for free.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply

Categories
- All Categories
- 350.7K Banking & Borrowing
- 253K Reduce Debt & Boost Income
- 453.4K Spending & Discounts
- 243.7K Work, Benefits & Business
- 598.4K Mortgages, Homes & Bills
- 176.8K Life & Family
- 256.8K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.6K Read-Only Boards