Definitions for "Legal fees"
Money paid for legal work completed by Solicitor or Conveyancer.
Legal costs involved in arranging a loan and the loan documentation incurred by the lender. Generally, it is charged to the borrower and is usually included in most loan application fees.
You should put aside between 1% and 1.5% of the purchase price of your home to cover solicitor's fees, before VAT. There will also be related costs – such as phone and fax charges, a payment to the Land Registry or Registry of Deeds Office and so on. If you are buying and selling at the same time, you should put aside between 0.75% and 1% of the combined purchase and sale prices, before VAT and related costs.
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