Remortgaging & transferring equity query

Mrs_confused_2

Can anyone please answer my query as ive spoken to so many people today and still dont have an answer

I am currently seperating from my husband and we have agreed that i will take over the mortgage. I am staying with our current lender and remortgaging on a fixed term product borrowing some additional funds as well as transferring the equity into my sole name.

My lender has said they just require the solicister to complete a certificate of title. My question is should i be paying for any search fees when i am remortgaging with the same lender and does completing a certificate of title require searches? I have looked on internet and most sites say that i this is unlikely unless im changing lender. My lender is saying they havent asked for any searches and my solicister is saying they are! No-one seems to be giving me a straight answer and I have no idea. Can anyone please enlighten me as i am really confused!

Thrugelmir

What searches is the solicitor proposing? As the term "searches" is generic.

In completing the Certificate of Title it's the solicitors Professional Indemnity Insurance along with their reputation that's at risk.

Mrs_confused_2

The solicester originally said i needed to pay £493 for services. Once they received advice from lender they added an additional £275 for standard search fee pack (LA searches, envion searches etc)

Thrugelmir

https://www.lawsociety.org.uk/advice/articles/sra-handbook-and-approved-certificate-of-title/


You can see for yourself what a solicitor is required to certify to the lender.

Mrs_confused_2

Thanks for helping me but im still really confused i find it difficult to understand legal jargon. Im justlooking for someone to explain to me in somple terms the process and to clarify whether i need to pay nearly £800 to a solicister to remortgage and change name on mortgage. Im finding the whole thing really stressful and no-one seems to be giving me a yes or no answer. Would really appreciate your help...

Contemptuous

Generally the solicitor is only required to carry out any searches they deem necessary to provide an unqualified certificate of title. It sounds like your solicitor wants the searches done to cover themselves.

lonestarfan

I always get a few quotes for conveyancing when I'm buying a house. You could ring a few different firms and ask then how much they would charge in total and in particular what searches would they insist on doing and how much will they charge for those searches and the total cost of the whole package.

Mrs_confused_2

Thanks for your replies. So just to clarify it is expected that i pay for a search pack fee in this situation??

Thrugelmir

Obtain another quote from another solicitor that's on the lenders panel.

Mrs_confused_2

Got another quote thats half the cost. Explained situation and they explained everything to me jargon free and non-confusing! Just shows how much you need to shop around and not go with the first few quotes you receive. Thanks everyone