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  • FIRST POST
    • tessiesmummy
    • By tessiesmummy 3rd Mar 18, 12:55 PM
    • 146Posts
    • 126Thanks
    tessiesmummy
    How much for mortgage advisor/ conveyancing
    • #1
    • 3rd Mar 18, 12:55 PM
    How much for mortgage advisor/ conveyancing 3rd Mar 18 at 12:55 PM
    Yesterday I finally got my Right to Acquire offer. The house was valued at 82,000 with 9,000 RTA discount so 73,000. I have an adverse credit history so looking at having 7400 cash to make it 80% LTV mortgage application so will be looking for mortgage of 65,600 on 26,000 basic salary before enhancements.

    What i cant find is how much i need for adverse mortgage broker and conveyencing???? Theres a local conveyencer that had a set fee offer of 795 is that good? I havent got a clue whats reasonable for a broker.
    forums.moneysavingexpert.com/showthread.php?t=5789716 Debt Free Wannabe
Page 1
    • ashe
    • By ashe 3rd Mar 18, 1:03 PM
    • 530 Posts
    • 367 Thanks
    ashe
    • #2
    • 3rd Mar 18, 1:03 PM
    • #2
    • 3rd Mar 18, 1:03 PM
    Google for connveyancing quotes and you will get some comparison sites that will quote you, and show you review scores. Compare these with some local firms. 795 sounds a lot, but I don!!!8217;t know if there is more work in your right to acquire scheme and that is why

    As a guide I just paid 500 for a 60k house sale and 1000 for a 230k house purchase, excluding stamp duty.

    Broker costs are a piece of string as they vary, some will work on comission from lender and/or you taking our insurance through them. Ask friends for reccomendations
    • tessiesmummy
    • By tessiesmummy 3rd Mar 18, 1:19 PM
    • 146 Posts
    • 126 Thanks
    tessiesmummy
    • #3
    • 3rd Mar 18, 1:19 PM
    • #3
    • 3rd Mar 18, 1:19 PM
    i think the rta is quite straightforward tbh. Just seems a case of accepting offer; getting mortgage and doing the legal checks then the house is mine.

    I was going to put my savings in a htb isa but that seemed to increase the cost of solicitor so might not bother.

    I have googled quite a lot. just seem to end up with thousands of spam emails to read through.
    forums.moneysavingexpert.com/showthread.php?t=5789716 Debt Free Wannabe
    • ashe
    • By ashe 3rd Mar 18, 1:31 PM
    • 530 Posts
    • 367 Thanks
    ashe
    • #4
    • 3rd Mar 18, 1:31 PM
    • #4
    • 3rd Mar 18, 1:31 PM
    A htb isa will only increase solicitors costs by up to 60, you would gain 25% on initial deposit and any monthly contributions until it!!!8217;s closed so well worth looking at
    • ashe
    • By ashe 3rd Mar 18, 1:34 PM
    • 530 Posts
    • 367 Thanks
    ashe
    • #5
    • 3rd Mar 18, 1:34 PM
    • #5
    • 3rd Mar 18, 1:34 PM
    Sent you a PM!
    • ACG
    • By ACG 3rd Mar 18, 5:16 PM
    • 16,822 Posts
    • 8,777 Thanks
    ACG
    • #6
    • 3rd Mar 18, 5:16 PM
    • #6
    • 3rd Mar 18, 5:16 PM
    Does the 795 include disbursements? If those are on top, then it is a little on the high side.

    In terms of brokers, you do not say what adverse you have. Some people say they have adverse and I think they are clean, others say adverse and it is a massive understatement. As a general rule of thumb you would be looking at between 500-1500 for someone who does a lot of adverse.
    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.
    • tessiesmummy
    • By tessiesmummy 4th Mar 18, 11:18 PM
    • 146 Posts
    • 126 Thanks
    tessiesmummy
    • #7
    • 4th Mar 18, 11:18 PM
    • #7
    • 4th Mar 18, 11:18 PM
    adverse as in a ccj from july 2015 for 1997, default dec 2012 231 and default dec 2012 for 345

    im also on nurse bank too which complicates things but thinking of just getting a contract for mortgage purpose.
    forums.moneysavingexpert.com/showthread.php?t=5789716 Debt Free Wannabe
    • ACG
    • By ACG 5th Mar 18, 8:36 AM
    • 16,822 Posts
    • 8,777 Thanks
    ACG
    • #8
    • 5th Mar 18, 8:36 AM
    • #8
    • 5th Mar 18, 8:36 AM
    Our fee would be 999 chargeable on full offer, we are middle of the road when it comes to adverse broker fees. The defaults alone could be overcome easily enough. The bank staff mixed in might make it a little more difficult, but not necessarily.
    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.
    • tessiesmummy
    • By tessiesmummy 5th Mar 18, 12:14 PM
    • 146 Posts
    • 126 Thanks
    tessiesmummy
    • #9
    • 5th Mar 18, 12:14 PM
    • #9
    • 5th Mar 18, 12:14 PM
    that sounds great ACG and what would the fee be if you werent to successfully find me a mortgage?
    forums.moneysavingexpert.com/showthread.php?t=5789716 Debt Free Wannabe
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