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    • babydragon64
    • By babydragon64 11th Jun 17, 3:24 PM
    • 1Posts
    • 0Thanks
    legal fees, mortgage/purchase
    • #1
    • 11th Jun 17, 3:24 PM
    legal fees, mortgage/purchase 11th Jun 17 at 3:24 PM
    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.

Page 1
    • sparky130a
    • By sparky130a 11th Jun 17, 3:38 PM
    • 638 Posts
    • 773 Thanks
    • #2
    • 11th Jun 17, 3:38 PM
    • #2
    • 11th Jun 17, 3:38 PM
    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.
    • G_M
    • By G_M 11th Jun 17, 3:49 PM
    • 44,049 Posts
    • 52,161 Thanks
    • #3
    • 11th Jun 17, 3:49 PM
    • #3
    • 11th Jun 17, 3:49 PM
    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.
    • eddddy
    • By eddddy 11th Jun 17, 4:04 PM
    • 6,302 Posts
    • 6,165 Thanks
    • #4
    • 11th Jun 17, 4:04 PM
    • #4
    • 11th Jun 17, 4:04 PM
    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:

    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.
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