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Re-mortgage / solicitors / freeholders
Gardenpot
Posts: 12 Forumite
Hi All,
We have a BTL property that we are about to apply with the current lender for additional funds, against that BTL property, for an ongoing new purchase. A couple of questions, firstly does this type of change normally require solicitor involvement and potentially additional costs or not ? Secondly as this BTL property is leasehold, even though the funds are for an ongoing purchase and nothing to do with the BTL leasehold property, is the freeholder likely to still be involved in this process or not ?
Any clarification / advice much appreciated. Thanks R
We have a BTL property that we are about to apply with the current lender for additional funds, against that BTL property, for an ongoing new purchase. A couple of questions, firstly does this type of change normally require solicitor involvement and potentially additional costs or not ? Secondly as this BTL property is leasehold, even though the funds are for an ongoing purchase and nothing to do with the BTL leasehold property, is the freeholder likely to still be involved in this process or not ?
Any clarification / advice much appreciated. Thanks R
0
Comments
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Normally I'd just expect the lender to assess the amount of equity and offer you a further advance secured with their existing security - nothing "legal" needing done so no solicitors or freeholder involvement.1
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