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conveyancy fee and re-mortgage.
illuminate
Posts: 285 Forumite
Been getting quotes for conveyancing fees and I'm confused.
I'm buying out my ex-partner and am lending the money from my existing lender.
Now, because there will be an amendment to the deeds, the C&G insist that this will be a re-mortgage, rather than additional lending. Which is great because it means no fees and lower interest rates.
However the fun arises when I am now searching for a quote for the conveyancing fees.
The main component of these fees is apparently based upon the sum borrowed. Some companies are insisting that the sum borrowed is the full amount. Existing lending + additional fee for purchase of equity. Others are saying that its simply the latter.
Also they are asking me whether I want them to act on my behalf simply for the transfer of equity or also for the re-mortgage. Are these not one and the same ?
I'm buying out my ex-partner and am lending the money from my existing lender.
Now, because there will be an amendment to the deeds, the C&G insist that this will be a re-mortgage, rather than additional lending. Which is great because it means no fees and lower interest rates.
However the fun arises when I am now searching for a quote for the conveyancing fees.
The main component of these fees is apparently based upon the sum borrowed. Some companies are insisting that the sum borrowed is the full amount. Existing lending + additional fee for purchase of equity. Others are saying that its simply the latter.
Also they are asking me whether I want them to act on my behalf simply for the transfer of equity or also for the re-mortgage. Are these not one and the same ?
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