Do I NEED a solicitor to change mortage providers?

J

Julymum1

Guest
Hi

The title says it all. Do I need someone to sign official documentation or can I do it myself?

Cheers,

Julymum
 
OP, this isn't a case of filling out a few forms and bob's your uncle there is a lot more to it, so unless you are experienced and had an extensive knowledge of property law and conveyancing you wouldn't be able to conduct this transaction yourself.

The new lender will insist that your solicitor fully investigates the title in exactly the same way as if you were purchasing the property. Your solicitor will also have to conduct legal searches and satisfy the bank that planning is in order, before giving a personal undertaking in the form of a certificate of title to the bank that everything is in order without this personal guarantee from a solicitor the bank would not give you a mortgage.
 
Mr. C.J.H. said:
The new lender will insist that your solicitor fully investigates the title in exactly the same way as if you were purchasing the property. Your solicitor will also have to conduct legal searches and satisfy the bank that planning is in order, before giving a personal undertaking in the form of a certificate of title to the bank that everything is in order without this personal guarantee from a solicitor the bank would not give you a mortgage.
Click to expand...

There is also a new thing called 'title insurance' which is acceptable to some banks. Also some banks pay something towards the legal fees.
 
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