We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
The Forum is currently experiencing technical issues which the team are working to resolve. Thank you for your patience.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Remortgaging Fees and Transfer of Equity

fleetingmind
Posts: 495 Forumite


My current 2.09% fixed with HSBC expires in August 2023 on my 125k mortgage and I have decided to remortgage early and got a offer of a 3.5% 5 year fixed with Lloyd's which I have until the end of Feb to proceed with providing they don't pull it. ERC will be about £700 in January.
As my broker couldn't get Lloyd's mortgages I had to do the process myself and got a email from Lloyd's solicitors Solex Legal (not great reviews online) the day before yesterday and i'm a bit confused now regarding the bit below and them talking about Transfer of Equity costs that they can provide t a cost (£275 + VAT).
As i've always used a broker and it's been so long ago i have no idea what extra costs are involved. Do I need to do a Transfer of Equity when I remortgage? Land Registry charges?
Nothing has changed from the last mortgage we took out to but our current house and we are just remortgaging to anther lender i.e the names on current mortgage, new mortgage, land registry are the same. Thank you
"Our initial checks with the Land Registry show that there is a difference between the names on the
As my broker couldn't get Lloyd's mortgages I had to do the process myself and got a email from Lloyd's solicitors Solex Legal (not great reviews online) the day before yesterday and i'm a bit confused now regarding the bit below and them talking about Transfer of Equity costs that they can provide t a cost (£275 + VAT).
As i've always used a broker and it's been so long ago i have no idea what extra costs are involved. Do I need to do a Transfer of Equity when I remortgage? Land Registry charges?
Nothing has changed from the last mortgage we took out to but our current house and we are just remortgaging to anther lender i.e the names on current mortgage, new mortgage, land registry are the same. Thank you
"Our initial checks with the Land Registry show that there is a difference between the names on the
title to the property and the name(s) showing on our instructions. For the remortgage to proceed a
Transfer of Equity will need to be completed. This is the process where either a party is removed or
added to the property title depending on the circumstance."
0
Comments
-
@fleetingmind It could be a mistake on the part of the solicitor, perhaps the title register is showing your names slightly differently to what you've put on the mortgage application?
You can ask the solicitor to send you a copy of the title register they've downloaded, or download one yourself for £3 here https://www.gov.uk/search-property-information-land-registry and then check for any discrepancies.fleetingmind said:My current 2.09% fixed with HSBC expires in August 2023 on my 125k mortgage and I have decided to remortgage early and got a offer of a 3.5% 5 year fixed with Lloyd's which I have until the end of Feb to proceed with providing they don't pull it. ERC will be about £700 in January.
As my broker couldn't get Lloyd's mortgages I had to do the process myself and got a email from Lloyd's solicitors Solex Legal (not great reviews online) the day before yesterday and i'm a bit confused now regarding the bit below and them talking about Transfer of Equity costs that they can provide t a cost (£275 + VAT).
As i've always used a broker and it's been so long ago i have no idea what extra costs are involved. Do I need to do a Transfer of Equity when I remortgage? Land Registry charges?
Nothing has changed from the last mortgage we took out to but our current house and we are just remortgaging to anther lender i.e the names on current mortgage, new mortgage, land registry are the same. Thank you
"Our initial checks with the Land Registry show that there is a difference between the names on thetitle to the property and the name(s) showing on our instructions. For the remortgage to proceed aTransfer of Equity will need to be completed. This is the process where either a party is removed oradded to the property title depending on the circumstance."
I am a Mortgage Adviser - You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
PLEASE DO NOT SEND PMs asking for one-to-one-advice, or representation.
1 -
Thanks. I've just checked and the names on the HM Land Registry are exactly the same as the mortgage application. I've already emailed the solicitor to ask for more details.
When remortgaging to another lender are there any fees though (not mortgage product fee)?0
Confirm your email address to Create Threads and Reply

Categories
- All Categories
- 350.4K Banking & Borrowing
- 252.9K Reduce Debt & Boost Income
- 453.3K Spending & Discounts
- 243.4K Work, Benefits & Business
- 598K Mortgages, Homes & Bills
- 176.7K Life & Family
- 256.5K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.6K Read-Only Boards