Shared ownership

Andrew_munroe

I’ve had to pay legal fees on a mortgage that offers free legal because I have a shared ownership property. Is this right ? I feel I am being discriminated against does any one have any advise for me on this?
Thank you Andrew

haras_nosirrah

I am a shared ownership mortgage specialist.
Lender free legals (is this remortgage) is usually only for standard legal fees. Leasehold, shared ownership etc are not standard fees and will be billed in addition.

I usually recommend my clients take the cashback rather than free legals as the free legals solicitor usually charge quite a lot for non standard work to make up for the pittance lenders pay them to do free legals

How much are you being charged?

Andrew_munroe

Hello I’m being charged £180 the mortgage broker I’m using should of told me this, however they haven’t I asked for free legal and they went and done this anyway should I put a complaint in and should I ask them to pay it

haras_nosirrah

In the small print of the free legals it would normally say 'free standard disbursements' and then a list of non standard that may apply.

The £180 doesn't sound excessive to me. Some housing associations charge around 100 to approve the offer so you may want to check that as well. I do a lot of product transfers for people on shared ownerships because of the extra costs in remortgaging

Which lender are you leaving and which are you moving to?