Robbing *&$!%!!

D

Drew

Active Member
£558 solicitors fees just to do a remortgage on our apartment 8O

Our 2 year fixed rate is up next month, but have found another good deal.

So basically it costs money to save money.

:evil:
 
Is that where you just change your mortgage lender :? Whenever we've changed we've not had to pay solicitor charges, just gone to our Financial Advisor, he's found new deal and then just had to pay fairly minimal admin costs to transfer.

Or are you talking about something different :?
 
Barbie said:
Is that where you just change your mortgage lender :? Whenever we've changed we've not had to pay solicitor charges, just gone to our Financial Advisor, he's found new deal and then just had to pay fairly minimal admin costs to transfer.

Or are you talking about something different :?
Click to expand...

Same thing.

Our new lender would have paid for the legal fees, but we would have got a slightly lesser discount on that particular deal, which over time would have cost more than the £558 in higher repayments.

Swings and roundabouts really.

Either way, you never win :roll:
 
Drew said:
Same thing.

Our new lender would have paid for the legal fees, but we would have got a slightly lesser discount on that particular deal, which over time would have cost more than the £558 in higher repayments.

Swings and roundabouts really.

Either way, you never win :roll:
Click to expand...

Apparently ours was one that paid our legal fees so that would explain why we didn't pay them, thank god I've got Tom who knows these things :lol:

That's still an awful lot for a remortgage, I'd check they haven't taken you for a ride. Tom was saying that for selling a property you can get a solicitor for £400 and you'd never pay more than £1000 and a remortgage should be a lot less.
 
I've never used a solicitor to change motrgage and didn't think there was any need to involve one. It's just between your old and new mortgage companies usually i thought....
 
N8 said:
I've never used a solicitor to change motrgage and didn't think there was any need to involve one. It's just between your old and new mortgage companies usually i thought....
Click to expand...

Apparently (well according to Tom :lol: ) most new lenders will pay your legal fees and if they say they won't, just say you'll take your business elsewere, that normally gets them to suddenly agree to pay them ;)
 
I shopped around 2/3 solicitors and my financial advisor spoke to a few people he knows and they all came in around the £550 mark.

Apparently £200 of this goes on searches (£150) and (£50 for ? - can't remember)

I spoke to one solicitor who says we may get away without the searches as our building was only recently finished so searches are up to date.

I could have gone to 2/3 other lenders who would have paid the legal fees but either the rate would have been higher or i would have had to pay between £400-£600 admin fee. There is no admin fee with this company.

The lender i'm going with told me how i recently missed out on a 5 year fixed 3.95% rate with them. Typical :roll:

Still, i managed to get a 4.24% variable for 4 years which isn't too bad, but isn't quite as good as the 4.19% fixed we're on now.
 
im currently on a 5yr fixed rate...which i have a couple o yrs to do yet...if i re mortgaged now it wouldnt be worth it as id incur penalties for doin b4 the 5 yr is up :(

Drew ya got a good rate there fella....think ill shop around better nxt time :oops:
 
You must log in or register to reply here.
Back
Top