MegaSack DRAW - This year's winner is user - rgwb
We will be in touch
Long story but I have got a house and mortgage jointly with my mum, both our names on both mortgage and deeds, I now want to remortgage (with a different bank) and get my mums name off the deeds she's obviously fine abut this so no contention but am I still going to have to pay a solictor a shedload of cash to sort it out? Any chance of remortgaging in just my name and paying a few quid to land registry to change the names?
Nope. I work at a bank head office. What you'll be doing is called a Transfer Of Equity. If you're going to do a remortgage go for one that pays the legals (most do) but they won't extend to the transfer, it'll be a free on a like for like. The transfer of equity can be done in the same transaction & you'll be charged for the TOE bit, typically £150-£200.
cheers, think I might have it sorted now, rang bank, I mentioned TOE they said TOE not necessary in a remortgage but could do the switch over at the same time, for "a small fee" hmm