Can You Add Solicitors Fees to a Mortgage?

Several tasks and responsibilities will fall to your solicitor or conveyancer when you’re securing a house purchase, for which they will be billing you, including arranging contracts, registering your property on the land registry database and organising the searches.

Here, we’ll explore whether you can add these fees to your mortgage and suggest potential alternatives that could help you pay the bill.

Can you add the cost to your mortgage?

No. Conveyancing charges differ from your mortgage fees, and your overall mortgage can not absorb them, so you must think about how you will stump up the cash. You will be billed over your house-buying process instead, so you should bear this in mind when you’re beginning your mortgage application process.

Alternative ways to pay your solicitor

A good mortgage broker can advise you on how to go about this, but taking out personal loans or credit cards to pay for your house moving fees can be risky. Not only are short-term loans usually very expensive, but they also impact your credit record, which then has a knock-on effect on how your lender approaches your mortgage offer.

Borrowing from family might be a safer bet, but ultimately, proving you have the money in the bank and ready to pay is far more attractive to both solicitors and lenders. If you have to borrow to pay these fees, looking around for a solicitor or conveyancer is wise, as some will be more amenable than others.

If you already own a property, you can raise cash through it, such as remortgaging to release equity, a secured loan, or a lifetime mortgage if you’re an older borrower.

Finally, you may be able to free up some funds for conveyancing by finding a lender who accepts a lower amount of deposit.

Most mortgage providers will expect you to put down at least 10% of the property’s value, but exploring 5% deposit mortgages could leave you with enough left over to pay your solicitor – keep in mind that a lower deposit amount means holding less equity in your home, and this, in turn, can mean being hit with a higher interest rate.