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I purchased a property for cash & now need a mortgage to refurbish. Do I have to pay a solicitor for this?

Posted on 20 September 2014 by Sandy


Hi, I have purchased a property for cash from my previous sale. I now need to take out a small mortgage to complete the refurbishment. Will I have to engage and pay a solicitor for this? or are all the costs normally covered in the mortgage company's costs?

Sandy,

Most lenders only cover the standard costs of remortgaging, the cost of creating a new charge is usually down to the owner to cover. However to help with the cost, you can normally use the same solicitor the lender uses. Also there are some lenders who offer a small cashback option instead of the free legals.

If you'd like to talk through your enquiry in more detail, then you can contact one of our consultants on 0344 346 3672 and they'll be able to give you a better idea of how we can help you.

Regards,

Simon

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