Deeds, mortgages and other legal stuff

[ooger]

Wanted: free legal advice :rolleyes:

So I'm looking at a new mortgage (the current ones rubbish, I want a less rubbish one), and we also want to get the deeds updated for the house to have both our names on (currently the mortgage is in just my name, and as theres a chance that will change, so too must the deeds I figure: after all noone's going to lend the wife a few grand against a house she doesn't own some stake in :-?).

So - without having to take out another mortgage to fund a solicitor, whats the best (safe, and cost effective) way of getting this done, and in what order?

PS - no offence to you legal folk, but you are much more expensive than us mere computer people :p

[kwak zzr]

most lenders now will pay your fee's if you take business their way, try the money comparison sites to see who's offering the best deals at the moment, also check this page out and stick it in your favorites - http://www.moneysavingexpert.com/
take out your new mortgage in both names and the deeds should follow (check up on this tho)

[mister c]

I changed my mortgage over last year through an independent financial adviser and I didn't pay a penny. I got a fixed rate, some cash in my hand & ended up paying ?50 per month less. If you can find an independent, they will get you the best deal, but they will still get their commission.

[kwak zzr]

will still get their commission.

this is the hasstle free way and they can access deals that you cant so can sometimes pay off but they do get LOTS of commission which i cant help thinking gets put back on your loan somewhere? tel me if you know a poor financial advisor:rolleyes:

[ogden]

I'll try and remember to ask the mrs later as she's done conveyancing in the past.

[Ed]

this is the hasstle free way and they can access deals that you cant so can sometimes pay off but they do get LOTS of commission which i cant help thinking gets put back on your loan somewhere? tel me if you know a poor financial advisor:rolleyes:

...and if the lender doesn't pay the commission to AN Other, it keeps it for itself.

Heads you lose, tails you lose:rolleyes: The buggers stitch you up all the time. I have no crocodile tears for Bradford & Bingley. Usual example of greed and more greed. Wasn't it great all those huge bonuses while the champagne was flowing, well now it's all gone sour and too f*cking bad. See how the rest of the world lives.

[mister c]

this is the hasstle free way and they can access deals that you cant so can sometimes pay off but they do get LOTS of commission which i cant help thinking gets put back on your loan somewhere? tel me if you know a poor financial advisor:rolleyes:
If the guy saves me £50 a month for the next few years then he can make whatever he likes. He has also helped me with a few other things like my pension that was earning sod all where it was, it's now starting to earn good money as I get a statement off them every 3 months. :)

[kwak zzr]

If the guy saves me £50 a month for the next few years then he can make whatever he likes. He has also helped me with a few other things like my pension that was earning sod all where it was, it's now starting to earn good money as I get a statement off them every 3 months. :)

bonus! my pensions up sh#t creek:(

[Jools'SV Now]

Taxi for a mortgage adviser!

if you get a remortgage deal with 'free legals', the standard work will be free but they will charge you for adding a name onto the deeds.
This amount would be about £200 but will vary between solicitors.
Make sure on your application to the lender that you state you're adding a name on so that they instruct a solicitor that can deal with it, as some don't.
It would normally on ly become apparant to the solicitor once they've done a land registry search unless you tell them in advance.

If your original mortgage to buy the property was over £240k there may be stamp duty to pay to add her on (as she's effectively buying half your house)
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As for commission and 'LOTS' of it. ****RANT ALERT****
I wouldn't say 0.35%, which is the average amount lenders pay brokers, is alot. (£350 on a £100k mtg)
When you use a broker, they are giving you advice, they are responsible for that advice and if you are advised incorrectly can be sued for that advice.
The commission is more like compensation for the huge risks brokers take everyday giving advice to a society that can't wait to sue the **** of anything that moves, if it so much as coughs.

As much as I can see why there is so much scepticism about advisers and their income, sadly we can't put our costs on the bottom of your illustration too.
Do you think the cost of my Professional indemnity insurance is 'alot'?
Do you think the fees I have to pay to the FSA in order to provide you with somewhere to complain about me are 'alot'
The petrol to drive to see clients
The cost of 'finding' you in the first place
Running an office
My time - usually in the evenings - often wasted by deadheads
....and all done with no 'cosy' salary or steady wage.

You may not see many poor financial advisers/mortgage brokers, but many of us have taken huge risks to build our businesses to where they are.

When you have your bike/car serviced, do the garage make a mark up on the parts? thats commission
Do they charge you for labour? thats a fee.

Society seems to think it's ok for some people to earn commission and fees and not others.
Experience and expertise are the same in any service, if you want to take advantage of it, it costs.

Alternatively you can try to sort it out yourself or go and see a uniformed droid at your local branch of dimwit building society who has zero experience, zero knowledge of the market and is only interested in selling you buildings and contents cover 'cos that's what they're targeted to do.

"blind date music", here's our graham....

the choice is yours.