Solicitor fees for conveyancing should be compared early on in the process so as to give you a good idea of which firm you are going to choose. You may not need a conveyancer at the beginning, when you have just put your house on the market, but you will, all being well, need one eventually.
You will also need a mortgage for your conveyancing solicitors to work with. Most mortgages require you to have a deposit – usually 10% of the purchase price of the property, although it could be lower or higher depending on the deal you get.
Before 2008, it was possible to obtain a 100% mortgage. This meant that the deposit, often all the estate agent fees and even the solicitors conveyancing fee were added to the mortgage and the lender would loan all of the money. These mortgages disappeared altogether after the economic crash of 2008. Some experts have suggested that these mortgages, possibly given to those who could not really afford them, were in part responsible for the crash.
However now, some lenders – not all by any stretch, but some – are starting to use them again. This is great news for first time buyers who are the ones who struggle the most to raise enough money to pay a deposit on their first home. Even if they can easily afford the repayments without the deposit, there is no other chance for them to own a property.
A 100% mortgage may not be the best choice for you, though – it is best to speak to an expert.
No matter what kind of mortgage you are getting, you will need to pay solicitor fees for conveyancing.
Comparing these fees at Conveyancing Index is the best way to find the perfect price package for you.
Visit https://www.conveyancingindex.co.uk or call 0203 874 2020 for further details on how you can save.