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Notice of mortgage fee for freehold?
eq
Posts: 2 Newbie
Hi I am supposed to be completing today and have been advised of a notice of mortgage fee on the completion statement. The fee is from the developers. I am buying a freehold property in a private estate. I understand I have service charge fees but why do I need to pay this fee? I have also been advised I have to pay it every time I change the mortgage and I have to advise the management company which i have to be part of anyway.
I have exchanged and I could not find this on the exchange contract.
My solicitor just said it's the sellers fees you need to pay. I don't understand as I am not a leaseholder why do I have to provide this sensitive information or pay. Advice required asap. Thank you.
I have exchanged and I could not find this on the exchange contract.
My solicitor just said it's the sellers fees you need to pay. I don't understand as I am not a leaseholder why do I have to provide this sensitive information or pay. Advice required asap. Thank you.
0
Comments
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It's probably in the titles rather than your contract. Have you checked your solicitor's report on title? It's not really sensitive information given that it ends up in a public register anyway.0
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Thank you Davidmcn. So is this normal for a freeholder to notify the management company and pay them a fee everytime the mortgage is changed? I've had a leasehold property and never had to do that let alone a freehold which I have also had.0
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Probably not "normal", no.1
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