• Seaches Required For A Remortagage?

    By Guest on 25th Jan 2019

    Hi there, Can you help. We managed to own our home outright a few years ago. We have recently applied for a remortgage to get a buy to let mortgage on the property which will enable us to purchase another property. My conveyancer has given me an estimate of costs and searches - mining, local, water etc are on it. When I queried it I was told some lenders ask for this. Is this because the property is currently unemcumbered?? I am confused as when we have previously remortgaged, there were no searches done for the lender. The only time we did searches was when we initially purchased the property and got our very first mortgage. I always thought these searches were for purchasers, not lenders? Please help. Very confused.

  • 1 Answers

    By Guest on 26/01/2019

    Some lenders require them and some will accept an indemnity policy in lieu. Take a look at the "CML Handbook" for details.

    www.notaryexpress.co.uk

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