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Buying out sibling and borrowing more
Reggie86
Posts: 7 Forumite
Hi, I’m new here and wanting some advice. Having read through some of the other posts on here I can’t seem to find the answer.
Affordability is fine and I have a decision in principle to borrow the additional funds.
I want to borrow more with my existing lender to buy out my sibling and take on the mortgage on my own.
Affordability is fine and I have a decision in principle to borrow the additional funds.
The lender (nationwide) has asked me to instruct a solicitor to deal with the transfer of equity which is fine and from the posts on here I can see that’s a requirement.
The solicitor is on nationwides panel
and has quoted £1000 for this and has included remortgage on the breakdown of costs. My question is whether I’m required to have a solicitor to handle the remortgage aspect when I’m staying with the same lender? If not, how much would I expect to save if I asked the solicitor to remove this aspect?
and has quoted £1000 for this and has included remortgage on the breakdown of costs. My question is whether I’m required to have a solicitor to handle the remortgage aspect when I’m staying with the same lender? If not, how much would I expect to save if I asked the solicitor to remove this aspect?
Thank you in advance for any support.
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