Compare conveyancing costs to get the best deal on solicitors’ fees. Saving money in the expensive process of buying or selling a house (or both!) is always worthwhile.
Sharing a mortgage can also save you money, but are there any downsides to this idea?
Should you go into a shared mortgage?
There are many positive aspects to having a shared mortgage and conveyancing solicitors and mortgage advisors will be able to help you with this idea. However, it is also worth remembering that, as with anything, there are potential downsides too. One of these is that there could be added legal costs to your final bill (another reason to compare conveyancing fees at the very start). There will be more solicitors’ fees if more people are entering into the purchase of a property because there is additional paperwork required.
Another problem could be arguments and disagreements between those buying the property. This could include one member wanting to sell their share of the house at some stage, whereas other parties do not. This of course happens after the sale has gone through, but it can still be a big problem leading to high legal fees. Financially, a shared mortgage can be complicated and this is enhanced if people are paying different amounts when it comes to the deposit or mortgage repayments. Something else to consider is who is going to live in the house. Just because a number of people are involved in the purchasing of the house it doesn’t mean they will all live there – this can also cause disagreements.
Compare conveyancing costs online at https://www.conveyancingindex.co.uk.
Conveyancing Index is your first and only stop to compare conveyancing fees and save around £367 on your solicitor.
We are here to help you save money, time and be less stressed during moving.
Call us on 0203 874 2020 for more advice and information.