Currently own a property with joint names on the mortgage and now buying the other party out and switching the mortgage to sole name, the mortgage is with the same provider but as its an equity buy out its classed as a 'brand new purchase'.
My conveyancer contacted me and told me that as it was being classed as a brand new purchase the mortgage company had informed her that she needed to do all the searches etc again, this added approx £500 to my bill in costs and fees. I was a bit miffed as I already live there but agreed to it, now talking to my mortgage company they say they 'dont insist on it' its up to the conveyancer. I questioned the conveyancer about this and she came back quoting the 'mortgage council hand book' and the phrase 'solicitors have a duty of care to the lender'. I can appreciate this to a point but the fact she then used this to justify after telling me the mortgage company needed it when they didn't makes me smell a rat. Recon its worth me kicking a fuse about it or just got to live with it ?
My conveyancer contacted me and told me that as it was being classed as a brand new purchase the mortgage company had informed her that she needed to do all the searches etc again, this added approx £500 to my bill in costs and fees. I was a bit miffed as I already live there but agreed to it, now talking to my mortgage company they say they 'dont insist on it' its up to the conveyancer. I questioned the conveyancer about this and she came back quoting the 'mortgage council hand book' and the phrase 'solicitors have a duty of care to the lender'. I can appreciate this to a point but the fact she then used this to justify after telling me the mortgage company needed it when they didn't makes me smell a rat. Recon its worth me kicking a fuse about it or just got to live with it ?
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