We can consider this application. An administration fee of £115 is payable at the start of the application, to help cover our costs in managing the request.
The replacement property must be suitable security for your loan moving forward. The replacement property should have sufficient equity to support the outstanding loan balance. We will also need to understand how much income the property generates, to ensure adequate coverage of the mortgage payments going forward. We will require a full valuation of the replacement property by one of our panel surveyors. A valuation fee will be payable; the fee amount will depend on the security value, type and location. Once we have the replacement security address we will be able to confirm the surveyor fee amount to you. Â If we can proceed, our solicitors will need to approve the formalities of the transaction. Our solicitors' fee will be payable (£375 + VAT for freehold properties (plus disbursements) and £400 + VAT for leasehold properties (plus disbursements).
If this is something you would like to investigate, please don't hesitate to get in touch with a member of the team.