Legal fees

[littlemissloud]

Hi all,

Hoping you can advise a clueless first time buyer. Dh and I have just had an offer accepted on a house (a complete renovation project ) and have chosen a solicitor after getting various quotes. I'm just wondering when you have to pay your legal fees to the solicitor? Also do you pay them all the different search fees at the same time or at a different point? Finally, when do we pay our mortgage lender our survey money?

These are things nobody tells you and I'm just trying to work out our family monies going forward as I am also back to work next week so will have childcare costs for the first time and would prefer to have an idea of when things are paid in order to be as organised as I can be.

Many thanks.

Survey cost is paid as soon as you commission it . You need to ask your solicitor for a schedule of fees ,some will want interim payments for searches etc others only at the end.

I paid for survey straight away, and paid the search fees all at once right at the beginning too. The other solicitors fees were all paid at exchange. Then there were just a few bits and bobs after completion.

When we appointed our conveyancing solicitor we were given a list of charges & a schedule of payment.
Don't worry, they're all used to FTBs & will guide you through the process.

Thank you all for your replies and help. It's both exciting and daunting!

Legal fees - most solicitors will ask for the search fees upfront as they have to pay them upfront (£100-£200). You'll probably have to pay them your deposit money relatively early on to enable them to exchange contracts, and then the rest (their fees and some costs they have to pay on completion) will all be taken at the end of the transaction, but you'll usually be asked for a "balance to complete" which will include all of that about 7-10 days before completion.

If you're having to pay for the survey (rather than the bank paying for it as part of the mortgage deal, and you're not adding it to your mortgage as part of the deal - although only a few lenders allow this now) you'll have to pay it pretty soon - as soon as the bank instructs the valuer.