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Switching to the new deal
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Some lenders are totally fee free you just let them do all the work using their panel solicitor.
One for the brokers, do the lender(solicitor) do full checks when taking on new property that is already mortgaged or just assume it will be OK and just swap the deed?0 -
getmore4less wrote: »just assume it will be OK
Ah, the Regulator's favourite phrase.
'I just assumed it would be OK'
A new Lender is a new mortgage - a new mortgage needs to be underwritten and the legal position checked.I am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, 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.0 -
On a remortgage the solicitor is permitted to purchase insurance and not do local searches.getmore4less wrote: »Some lenders are totally fee free you just let them do all the work using their panel solicitor.
One for the brokers, do the lender(solicitor) do full checks when taking on new property that is already mortgaged or just assume it will be OK and just swap the deed?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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