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Transfer of equity costs - Solicitors
Bionik
Posts: 32 Forumite
Hello,
So I am in the process of buying out my friend on a flat we purchased. I have been sorting out the mortgage side which is going to be a remortgage.
As part of the remortgaging side, the new lender will cover most of the legal parts - The actual remortgaging, environment checks etc. But they will most likely not cover the transfer of equity.
My situation involves a part ownership scheme where I would own 40% and the housing association owns 60%. So it makes things a little more complicated and costly with fees
I assume the only part I need covering is the transfer of equity but involves conversing with the housing association and my friend.
I have had quotes around the £750-£950 mark. I am not sure If this is a decent amount for what needs doing.
Please can anyone shed any light on the situation and maybe recommend any solicitors for the transfer of equity?
So I am in the process of buying out my friend on a flat we purchased. I have been sorting out the mortgage side which is going to be a remortgage.
As part of the remortgaging side, the new lender will cover most of the legal parts - The actual remortgaging, environment checks etc. But they will most likely not cover the transfer of equity.
My situation involves a part ownership scheme where I would own 40% and the housing association owns 60%. So it makes things a little more complicated and costly with fees
I assume the only part I need covering is the transfer of equity but involves conversing with the housing association and my friend.
I have had quotes around the £750-£950 mark. I am not sure If this is a decent amount for what needs doing.
Please can anyone shed any light on the situation and maybe recommend any solicitors for the transfer of equity?
0
Comments
-
My transfer of equity (I wasn't buying, just being bought out) was £373.20 and this was in 2018. I'm in the North West.
If you're buying, that might explain the higher cost.0
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