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When do you pay a solicitor- buying a house

(5 Posts)
Tooslowchickenmarengo Wed 26-Oct-16 17:15:32

DP and I are in the process of buying a house. As first time buyers we are both a bit stumped by the process and worried we're going to do something wrong in ignorance so hoping someone might be able to help!!

Could anyone explain to me when in the process you instruct and pay for a solicitor?

we are buying a shared equity property. We have an agreement in principle via a broker for Leeds building society. Today we submitted all our documents for the mortgage application. We also had to confirm details of our solicitor to the broker. We researched some solicitors earlier in the week and were quoted prices and sent documentation in post from the solicitor we want to use. The documentation requests payment of the solicitors fee so we can instruct them. We've given the details of this solicitor to the broker as the one we are going to use but is it standard to pay their fee now before we have had the mortgage application confirmed which could take weeks?

Im worried about paying this and then the mortgage application being declined (partners credit score is poor). We've already paid a reservation fee on the flat and the brokers fee so it would be a lot of money to loose out on if mortgage is declined.

Any advice would be much appreciated.

vicki2010 Wed 26-Oct-16 22:58:04

As far as I can remember, we paid all the fees upon completion of the mortgage deal.

PawWavingCat Wed 26-Oct-16 23:04:04

If I remember correctly, we possibly paid a deposit (a few hundred?) when we engaged the solicitor.

Definitely settled the whole bill on completion - because the money goes though them anyway, the just take their bill off the whole transaction!

JoJoSM2 Wed 26-Oct-16 23:52:41

The solicitor should send you a detailed quote. Actual payments will be done in stages, although I'd expect the majority of the money paid at the end, I.e. Completion.

Diamogs Wed 26-Oct-16 23:54:28

They will ask for a deposit upfront to pay for searches and other fees on your behalf. A cheap online solicitor may ask for the full amount upfront that is non-refundable, whereas a traditional solicitor will probably charge their fees on exchange of contracts.

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