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Can banks really tell me which solicitor I can/can not use?
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Even in the 80s and 90s the banks had a list of requirements on solicitors. This is not a new thing. Although it seems to have returned post credit crunch after it went away for a while during credit boom.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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Daxineenas wrote: »Can the banks really do this?
With regards to property transactions. The appointed solicitor represents both your interests and that of the lender. So to lenders the appointed solicitor is of primary importance. As others have said meeting an accredited standard is an important factor.
If the same solicitor wasn't used. Then it would require 2. Which would result in even higher costs for you.0 -
I think we need to start again here.
Please tell us exactly what is going on.
Your ex-partner is effectively buying you out and completing a transfer of equity? Is he keeping the mortgage with the current lender and having you removed, or is he remortgaging to do it?I am a mortgage broker. 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. Please do not send PMs asking for one-to-one-advice, or representation.0 -
Ex was going to buy the property but has now decided not to! No matter - will take the advice given, not proceed with the equity transfer but sell the house with his permission and go from there.
Thank you for all your input everybody - helped me clear a few things in my head and find a way forward! Appreciate it.0 -
All sorted - solicitor in place, proceeding with sale - thank you all so much
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Daxineenas wrote: »All sorted - solicitor in place, proceeding with sale - thank you all so much
Wish you well. Hope that everything now goes smoothly.0
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