Getting added into a mortgage fees

Cbrw2022

I am in the process of getting added onto my partners mortgage. I was just wondering what fees / solicitor costs are typically involved in this process so I can get a ballpark figure of how much it’s going to cost. 

Some info if that helps:
£400,000 property
£130,000 mortgage
first time buyer 

canaldumidi

I assume you are also being added as a registered owner on the Land Registry Title? So a TR1 to the LR? Or perhaps not (unlikely)?

FTB status is irrelevant. The new owners of the property will be you and your partner, and since he is not a FTB, there will be no FTB benefits.

Cbrw2022

canaldumidi said:

I assume you are also being added as a registered owner on the Land Registry Title? So a TR1 to the LR? Or perhaps not (unlikely)?

FTB status is irrelevant. The new owners of the property will be you and your partner, and since he is not a FTB, there will be no FTB benefits.

How much does a solicitor normally charge for these services?

canaldumidi

Would depend whether you are simply "getting added onto my partners mortgage" or also becoming a registered owner.

Cbrw2022

canaldumidi said:

Would depend whether you are simply "getting added onto my partners mortgage" or also becoming a registered owner.

Becoming a registered owner too

kingstreet

As legal costs vary across different solicitors/conveyancers and across the country, you need to ask for cost estimates for a "one-on" transfer of equity. 

TBagpuss

Your best bet will be to phone a few local solicitors and get an estimate for a transfe of equity and remortgage. 
Normally , the legal costs would be similar to or a little lowe than if you were buying, becasue a lot of the work is similar but they won't need to check searches for you.
There should be fewer disbursements than if you were buying a new property as you are unlikely to need things like the local search / coal mining /water searches etc .

This assumed that you are sticking with your partner's current lender. If you are mortgaging with a new lender they may require some searches which will affect the costs . 

user1977

TBagpuss said:

This assumed that you are sticking with your partner's current lender. If you are mortgaging with a new lender they may require some searches which will affect the costs . 

Alternatively, a remortgage may include free legal costs (for the remortgage itself) with the transfer of equity being a chargeable extra (possibly at a relatively modest cost).

Cbrw2022

user1977 said:

TBagpuss said:

This assumed that you are sticking with your partner's current lender. If you are mortgaging with a new lender they may require some searches which will affect the costs . 

Alternatively, a remortgage may include free legal costs (for the remortgage itself) with the transfer of equity being a chargeable extra (possibly at a relatively modest cost).

Great thank you, this might be a silly question. Can I get added onto the mortgage without actually having to remortgage, so just adding myself onto the existing mortgage? 

user1977

Cbrw2022 said:

user1977 said:

TBagpuss said:

This assumed that you are sticking with your partner's current lender. If you are mortgaging with a new lender they may require some searches which will affect the costs . 

Alternatively, a remortgage may include free legal costs (for the remortgage itself) with the transfer of equity being a chargeable extra (possibly at a relatively modest cost).

Great thank you, this might be a silly question. Can I get added onto the mortgage without actually having to remortgage, so just adding myself onto the existing mortgage? 

Yes, you can do that. But you'd certainly be paying all the expenses then.

K_S

Cbrw2022 said:

user1977 said:

TBagpuss said:

This assumed that you are sticking with your partner's current lender. If you are mortgaging with a new lender they may require some searches which will affect the costs . 

Alternatively, a remortgage may include free legal costs (for the remortgage itself) with the transfer of equity being a chargeable extra (possibly at a relatively modest cost).

Great thank you, this might be a silly question. Can I get added onto the mortgage without actually having to remortgage, so just adding myself onto the existing mortgage? 

@cbrw2022 You can indeed, and that's often the preferred option when you want to avoid having to pay ERC or lose a good rate/product that you are on.

This page from one mainstream lender explains the process (and ballpark lender related costs) better than I could.
https://www.accordmortgages.com/products/transfer-of-equity

The mechanics might differ slightly across lenders but it'll be a fairly similar process. You will need to hire a solicitor.