Re-morgaging

[mesmerred]

A friend has had a review of his fixed term morgage and is now going with a new lender. His solicitor is charging for a new set of searches, registration fees etc as if it is a house purchase. surely this isn't necessary is it?

[Ethel]

Some mortgage lenders insist on it - they don't want to rely on information that could be out of date.

For example, a search may show that permission has been sought to build a motorway at the bottom of the garden, or a maximum security prison.

And the mortgage will have to be registered, so that will incur fees.

[mesmerred]

I see what you mean. Thanks.

[Nether Edge]

Not all searches need to be repeated: only one to check that you're not bankrupt and that there are no other debts secured on property. Local authority search not needed (or, if it is, it can be replaced by insurance).

New mortgage (and discharge of old mortgage) will need registration at HM Land REgistry, but fee is much lower than for purchase.