transfer of equity, assistance please?

Ole20_2

ive applied for transfer of equity..although its in negative at the moment as my ex partner wishes to be off the mortgage...i have beeen told i will have to pay the fee of 175 plus a solicitor at a guesstimated 200.00?? what does the solicitor do on my behlaf for this amount? i have the application and the supporting papaerwork? thanks

happybroker

the solicitor deals with the change in ownership of the property, liasing with the bank after the transfer deeds has been signed and notarised and registers the change with the land registry.

rocky_robin

As happybroker said, basically all the legal paperwork.

Went through it last year when I bought my brother out of our jointly-owner and mortgaged house and then put my "other half" on as she used the assets from her house to help buy the other half on top of our extended mortgage

We used an online lawyer and only paid them about £100 but the bank wanted various fees.

The mortgage lender can in theory say they don't agree to the transfer and will charge you for the permission plus charge you for pretty much everything else as there were a number of forms to fill in, in our case although that might have been down to the change in names on the mortgage and change of mortgage amount/type too

It took about 6 weeks and there were quite a few forms to get witnessed

Ole20_2

thankyou,, was the online lawyer a good way to do things??