Swapping houses? anyone done this?

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  • Swapping houses? anyone done this?
  • Zedsdead
    Member

    We’re thinking about swapping houses with a family member. They need to downsize and we need to upsize.

    Do we need to use lawyers etc or can we do this ourselves? All we want to do is swap the deeds over. Can we contact the land registry office and organise this? We’re in Scotland.

    Cheers

    d-_-b

    donald
    Member

    For God’s sake get a lawyer involved.

    Please. Otherwise it’ll all end in tears.

    Why does he need a lawyer?

    donald
    Member

    Inheritance tax planning? Mortage provisions? Maintaining insurance cover. Are the titles to both houses properly registered already? Capital gains tax?

    I’m sure a lawyer could think of a few more.

    Zedsdead
    Member

    Yes, both houses are all done by the book and up to date.

    I can sort out insurance etc myself as I’ve done this before. To change the details on the mortgage is simply a change of address. A phone call should sort that?

    There’s no need to change other mortgage details as the payments won’t change. One house is fully paid and the money toward the larger will be handed over cash.

    cynic-al
    Member

    To change the details on the mortgage is simply a change of address

    If you really believe that then you DEFINITELY need a lawyer (I’m not sure it’s possible without one tbh)

    Zedsdead
    Member

    fair enough if it’s not possible.

    Just wondered if it could be?

    sq225917
    Member

    No lawyer needed just the consent of the mortgage providers.

    cynic-al
    Member

    My point is if that his knowledge of conveyancing then he should not be going about it himself.

    Given that a mortgage is secured on the property, lenders JUST MIGHT want to know a bit about the property the mortgage is to be secured on…like a survey?

    OP I don’t know if it’s possible or not without a lawyer, I know I wouldn’t risk it and I am one.

    gwaelod
    Member

    I disagree with the whole lawyer thing.

    Taking the advice of random nutters on an anonymous website focused on Mountain Biking is far more sensible and besides it’ll make for great reading in the papers in 5 years time when one of the parties goes beserk and kills everybody else involved because of a slight oversight involving Feu Duty and Udal tenure.

    joe1983
    Member

    My parents did this about ten years ago with a family friend. No estate agents needed but would defo involve a solicitor just to be on the safe side

    google “do it yourself conveyancing”

    looks a piece of pi$$ to me

    cynic-al
    Member

    google “do it yourself conveyancing”

    looks a piece of pi$$ to me

    I’d google “do it yourself conveyancing in Scotland” myself – it is different

    Oh i forgot.

    Drink bottle of whiskey
    drink 10 cans of Tennats super
    Google “do it yourself conveyancing in Scotland”
    Piece of pi$$

    You should be able to reduce the lawyers role t a minimum and thus the bill but no way on earth would I do a financial transaction on that scale without legal advice.

    Zedsdead
    Member

    Cheers people. TJ, sounds like a good option to me.

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