Avoiding legal fees?

Dan_Manchester

Good evening all,

I'm having a nightmare with Santander currently. I'm attempting to do a change of borrower (simply remove someone from the mortgage), I have had the offer approved by the Bank but they won't action it without me paying a lawyer to do the paperwork ...

I've spoken to the Lang Registry and downloaded all the forms I need:

- AP1 (to amend the register)
- TR1 (to transfer the ownership)
- 2 x ID1 (as we are private individuals to prove our ID)
- RX3 (as we are tenents in common and I need to remove his charge)

The fees for the above are £50 however if I have to pay a lawyer it's going to cost 4-6 times this amount.

Has anyone had any experience with either Santander change of borrower or simple DIY change of borrower processes?

Thanks in advance

zzzLazyDaisy

I think it is extremely unlikely that the lender will allow you to do this yourself without a solicitor. Why? Because although it is you footing the bill, the solicitor also acts for the lender.

Dan_Manchester

zzzLazyDaisy wrote: »

I think it is extremely unlikely that the lender will allow you to do this yourself without a solicitor. Why? Because although it is you footing the bill, the solicitor also acts for the lender.

Hi Daisy and thanks for your reply.

I'm not happy paying the Bank's legal fees on top of the £140 'admin fee' they have charged me to process the application. If I did use a solicitor what work would they do for the Bank?

Thanks

zzzLazyDaisy

Okay, let me see if I have this right, as you haven't given much information.

You currently have a joint mortgage with A.N.Other. Ms Other wishes to have her name removed from the mortgage. This may or may not involve you buying her out (you haven't provided this information).

This will leave you as the sole owner.

In order to have Ms Other taken off the mortgage, you have to have the property transferred to your sole name, which also means re-mortgaging the property in your sole name.

In effect, this is a sale from the joint owners to the remaining sole owner. Much of the work associated with a normal conveyance is the same here, such a searches etc. Put simply, you are in effect both the seller and the buyer, but the lender will still expect its interests to be covered in the normal way.

GMS

The basics of any property transaction involving a mortgage is that the solicitor will act in the interests of the charge holder (the lender) usually at the expense of the borrower.

A lender may well allow you to do your own legal work but will insist you pay for theirs in order to allow the transaction to proceed.

dunstonh

Do the lenders still insist on solicitor firms being a minimum of partnerships? There used to a be a range of stipulations on the type of solicitor used. So, if that still applies, then I cant see them using someone who is not qualified.

johnwtsn149

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seess

Dan_Manchester wrote: »

Good evening all,

I'm having a nightmare with Santander currently. I'm attempting to do a change of borrower (simply remove someone from the mortgage), I have had the offer approved by the Bank but they won't action it without me paying a lawyer to do the paperwork ...

I've spoken to the Lang Registry and downloaed all the forms I need:

- AP1 (to amend the register)
- TR1 (to transfer the ownership)
- 2 x ID1 (as we are private individuals to prove our ID)
- RX3 (as we are tenents in common and I need to remove his charge)

50 pounds are not too much. don't take risk to avoid law

angeldelight1

Hi Dan
I'm currently having a few issues with santander myself:mad: ..I am trying to arrange a change of borrower on my mortgage..basically I want to change the borrower into my partners name (who is currently paying half the mortgage anyway)..however santander are telling me I can't do this - I need to sell the property to him which means I will incur a £4000 early repayment fee, so basically I want to know what a change of borrower actually means then??

Any help anyone can give me would be appreciated thanks!!