• Welcome to the LegalBeagles Consumer and Legal Forum.
    Please Register to get the most out of the forum. Registration is free and only needs a username and email address.
    REGISTER
    Please do not post your full name, reference numbers or any identifiable details on the forum.

Explanantion of Fees

Collapse
Loading...
X
  • Filter
  • Time
  • Show
Clear All
new posts

  • Explanantion of Fees

    Hi all,
    hope someone can explain my query.


    My wife bought a house a few years ago but could get a mortgage on her own as she didn't earn enough. She and her sister got the mortgage together and all was well (her sister didn't live there, nor did she pay towards the mortgage).
    My wife then moved in with me and here sister decided to move into the house. Her sister took over the payments, simply by changing the direct debit details.


    Jump to now and her sister has decided to remortgage to get a better deal. Her solicitor has had to go through a few procedures to remove my wife from the mortgage.
    She has completed a transfer of equity form and a Declaration of Solvency in front of a solicitor.
    Her sister is now asking us to pay half the fees believing that they are for removing my wife from the mortgage. We've got a copy of the completion statement and would like some clarification of these fees (obviously, the Nationwide can't discuss with us)


    Would someone be able to explain what each one means and if it is to do with removing my wife or just regular remortgage legal fees?


    Elevated Service Fee £294.00
    Deed of Gift Undervalue Policy £84.80
    Fee for drafting Declaration of Solvency £60.00
    Fee for arranging Indemnity Policy £54.00
    Existing Lender Bank Transfer Fee £25.00
    Electronic Money Transfer Fee inc. VAT £25.00


    I've put this on the MSE forum too


    Thanks in advance
    Tags: None

View our Terms and Conditions

LegalBeagles Group uses cookies to enhance your browsing experience and to create a secure and effective website. By using this website, you are consenting to such use.To find out more and learn how to manage cookies please read our Cookie and Privacy Policy.

If you would like to opt in, or out, of receiving news and marketing from LegalBeagles Group Ltd you can amend your settings at any time here.


If you would like to cancel your registration please Contact Us. We will delete your user details on request, however, any previously posted user content will remain on the site with your username removed and 'Guest' inserted.
Working...
X