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Solicitors fees on endding mortgage
wozzoj
Posts: 7 Forumite
Our mortgage is coming to an end at the end of the year (after 25 years),.
Abbey, (apart from their completion costs), say we need to appoint a solicitor to manage the end of the the transfer of ownership, documents ,etc.
Anyone have an idea how much the solicitor will cost for the conveyancing/ completion? Or are we best doing what Martin suggests and leave £50 in the mortgage account to keep it alive!
Abbey, (apart from their completion costs), say we need to appoint a solicitor to manage the end of the the transfer of ownership, documents ,etc.
Anyone have an idea how much the solicitor will cost for the conveyancing/ completion? Or are we best doing what Martin suggests and leave £50 in the mortgage account to keep it alive!
0
Comments
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There is no transfer of ownership or conveyancing involved. The building society simply have a charge on the property which they will remove once the mortgage is discharged.
The deeds will be sent to you to do as you wish with.
People do sometime leave £1 owing to ensure that the BS store the deeds rather than themselves, however then you will technically still have a mortgage and make a monthly payment on their SVR.No free lunch, and no free laptop
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Abbey will give you the option of them doing the legal work (no cost) or you can appoint a solicitor - at cost to you.I am a Mortgage Adviser
You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
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