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Deeds transfer...how much
JamieR1
Posts: 1 Newbie
I purchased a property in 2008 with a friend for the value of £177k. We borrowed the deposit of 5% from a family member.
However now I am looking to transfer the deeds of the property from my friend and I to myself and my Wife. I will also be buying the family member out as well by giving them the original investment back with the intention of having full ownership of the house with my wife.
Could anyone please advise of the cost implications of this if you have had this done recently...
Thanks
However now I am looking to transfer the deeds of the property from my friend and I to myself and my Wife. I will also be buying the family member out as well by giving them the original investment back with the intention of having full ownership of the house with my wife.
Could anyone please advise of the cost implications of this if you have had this done recently...
Thanks
0
Comments
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Permission from lender to transfer of equity including vetting of new applicant for mortgage, normally attracts a fee, amount of which is dependent on the lender concerned.
A one-off, one-on TofE probably around £400 for the legal work.
I'd say upto £600 in total should cover 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
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