Bank of Scotland's own lawyers

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rosyhill

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We are thinking of remortgaging through Bank of Scotland. If we use their lawyers for the conveyancing, B of S pay all legal fees as part of the deal. Has anyone else done this? Is there a downside? Is it better to have our own lawyer? If so how much should the remortgage legal fees be?
 
Our remortgage cost 991 (including all costs last yr) bank paid 600 towards that but at least we got independant legal advise. The legal fee charged by solr was 500, tha is the cost which is negotiable.
 
rosyhill said:
We are thinking of remortgaging through Bank of Scotland. If we use their lawyers for the conveyancing, B of S pay all legal fees as part of the deal. Has anyone else done this? Is there a downside? Is it better to have our own lawyer? If so how much should the remortgage legal fees be?
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It won't be 'their lawyer' as such, rather a solicitor that is on a panel that they deal with. The downside is you are prevented from shopping around based on recommendations-the upside is there is no financial cost to you.
 
Sounds good. Permanent TSB offer E1,000 towards legal fees. But out of curiousity, if your legal fees were E500 what were the legal extras that brought it up over 900?
 
Searches, comissioneers fees can't remember the rest I still have the bill in work so I can tell you tomorrow!
 
I know that the EBS make you pay the fees if you move your mortgage within 5 years.
 
Most or all lenders who subsidise or subsume the legal and related costs of remortgaging/switching put in place terms & conditions like that - i.e. they clawback some or all of the subsidy if you move again within a certain period of time (usually 5 years).
 
Are you sure BOS aren't recommending Quickswitch from First American? They are completely independent to the lender.

You can find out more at [broken link removed] but basically this is a title insurance company dealing specifically with remortgaging - they carry out all the legal work associated with remortgaging - searches etc. However, a solicitor is required for the signing of the loan offer - you can choose one in your area from their panel (recommended) or if you would prefer to use another solicitor you may do so also but you may have to pay - solicitors on the FA panel are paid €140, if you choose a non-panel solicitor who charges more than this it is up to you to pay the excess.

Many lenders covering the legal fees use First American as they charge an all inclusive flat fee of €999 and claim to complete the transaction within 10 days (realistically though, you can expect for it to take longer so be warned!).
 
thanks for that....going with their panel sounds like the way to go for least hassle
 
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