Solicitor Fee for writing up private mortgage/loan agreement

Discussion in 'Legal Issues' started by daveybb, 24th Oct, 2018.

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  1. daveybb

    daveybb New Member

    Joined:
    18th Apr, 2018
    Posts:
    2
    Location:
    Brisbane
    Hi,
    I was charged close to $5000 to write up a private mortgage/loan agreement.
    Is this a standard price or am i being taken for a ride?

    https://splawyers.com.au/fees/

    Going by the link above i feel like i may have been overcharged?
     
    daveybb, 24th Oct, 2018
    #1
  2. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Member

    Joined:
    18th Jun, 2015
    Posts:
    41,985
    Location:
    Australia wide
    I charge $990 for an unsecured loan agreement with legal advice (and tax advice), with a mortgage you might be up for around $2200 normally.
     
    Terry_w, 24th Oct, 2018
    #2
  3. Redwood

    Redwood Well-Known Member

    Joined:
    22nd Jun, 2015
    Posts:
    691
    Location:
    Melbourne
    Did you ask for the price upfront?

    Lawyers can charge what they want and there are a lot of “online” agreements which I would not recommend.

    If you have not had it drafted hit Terry up

    Cheers Ivan
     
    Redwood, 26th Oct, 2018
    #3