I swear I'm too embarrassed to email them anymore. I've emailed three queries today and every time they answer me something I think of something else.
I'm transferring a house from my (deceased) dads name into my name, my step mums and brothers names as per the will.
I then want to put it solely in my name as I'm buying the relatives out.
They've told me to fill out a TR1 form and an AP1 form. And send it all to them with probate.
I was going to send it all together but natwest have now said they won't process my mortgage application until the house has been put into joint names. So I can't send them all the forms together as that would mean it gets put into my name before I have paid for the the other shares of the house.
Which form do I need to send first to get it into joint names?
It's still the TR1 form but will the mortgage company deal with you direct ? Do they not require a solicitor? Tbh I think you should use a solicitor, would probably only be a couple of hundred quid, and a solicitor will be able to do it altogether. I did the same thing and wasn't necessary to put all in three beneficiaries names as we were beneficial owners, the solicitor dealt with the mortgage co and it's also quite helpful to have a solicitor to deal with the tax issues, you might a transfer into three peoples names then your sole name rather than just straight into your name has tax implications.
I'm really stressed. We had been planning to extend the mortgage on our home rather than getting a BTL mortgage on the new house. So then we'd have effectively paid cash for the BTL.
But when we went into natwest she convinced us into a BTL mortgage. It is actually a better interest rate.
So I hadn't been planning on using a solicitor.
She said get the house in my name and then they'll give me a mortgage. I said Ok. But now I'm stressed as that's not really how it should work and it involves my brother and step mum trusting me to put it in my name before I've paid them.
I do think you need a solicitor and they should be able to give you a mortgage offer on the basis of the will as you all DO own the house, you have beneficial shares just not transferring legal title which is waste of time. Solicitor does everything together but you may also need a broker to get the mortgage sorted as is slightly unusual we got rejected from I think Halifax as they couldn't fathom the fact we'd inherited and I was buying the others out. But I got my mortgage offer with the house remaining in the deceased relatives name. Then the solicitors dealt with the rest. I am amAzed if you made sense of my last post sorry, phone posting.
I a, beginning to think a solicitor would be easier and stress free. But the land registry said it was really simple and all I need to do is to fill the two forms out. I've filled the forms out, they are simple.
And if I send them off then the house will be in my name in 15 days time and I haven't had to spend nearly 1k on a solicitor.
I'm going to have to ring the Natwest tomorrow and check to see if we need a solicitor. She said they'd basically send us a cheque so we had the money and could then write a cheque to my brother and step mum. I need to confirm that.
I haven't actually had a quote from a solicitor. But when we were thinking of selling the house we were told £500 for selling. So I assumed putting it into our names would be the same as a sale and then putting it into my name would double it but I may well have been wrong on that.
If it's a new mortgage then yes you need a solicitor, I think you've been misinformed. As a solicitor is needed to protect the mortgage company's interest, you haven't got a mortgage registered on there already, so need the solicitor to register a charge for the mortgage co's interest. A remortgage would just be extending an existing mortgage, if you remortgage with a different lender a solicitor is needed to register the new charge. Sometimes on a remortgage the lender will choose a solicitor for you and the fees are included. You could put it in your three names easily with no solicitor (TR1 form I think) but I think you need for the next bit, the mortgage and transfer into your sole name which would happen simultaneously through a solicitor who would then protect the mortgage co interest. It's not nearly as much work as a sale so about half the cost sounds right. Solicitor but have done no conveyancing for 8 years just dredges of memory here. You could ask again in legal.