We should have done it like that, but for my mum we wanted as a family to be certain it was ok. Unnecessary, but we used her solicitor.
It was painless in terms of the forms and process therefore, as the solicitor just said "sign here", but perhaps because there are four attorneys it was about £1000 in fees, which was a bit ouchy, though that covered financial and health as well.
I would say though that when we came to use the things, institutions want either the original or a certified copy. Being unwilling to send the original in the post, it was easy to get the solicitor to produce a certified copy as they knew all about it and had the paperwork. I think they charged £30 for that, and I've used it three or four times.
So that's the top end of what you might pay I guess.
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