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Mortgage settlement & change of deeds
sparkykink
Posts: 14 Forumite
Hello there,
I'm about to buy my daughter's flat which is still mortgaged.
I don't need a mortgage, so I would think it's just a matter of me giving her the cash to settle up and then the deeds need to be transfered to me.
Question is :
Do I need to go through the usual expense of a solicitor for my daughter as the seller and one for me as the purchaser or can it be done by just one solicitor as a 'single transaction' ?
I wan't to keep the expense down because she only bought the flat 5 years ago which is rouund the corner from where I live, so there should be no issues with searches etc.
I'm thinking along the lines of 'why line the pockets of a solicitor if there is a cheaper way'?
Any thoughts or advice would be much appreciated.
Thanks,
Dave
I'm about to buy my daughter's flat which is still mortgaged.
I don't need a mortgage, so I would think it's just a matter of me giving her the cash to settle up and then the deeds need to be transfered to me.
Question is :
Do I need to go through the usual expense of a solicitor for my daughter as the seller and one for me as the purchaser or can it be done by just one solicitor as a 'single transaction' ?
I wan't to keep the expense down because she only bought the flat 5 years ago which is rouund the corner from where I live, so there should be no issues with searches etc.
I'm thinking along the lines of 'why line the pockets of a solicitor if there is a cheaper way'?
Any thoughts or advice would be much appreciated.
Thanks,
Dave
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