Hi, I'm at start of doing a small equity release from personal loans/credit cards of around 20k and going to add it to my mortgage. Loans were all for house extension that went over budget so needed the cashflow quick. The bank has given me the go ahead all approved for the 20k release but they mentioned I will have to pay legal fees. I work in finance so well aware of risk of putting credit card debt onto mortgage etc so dont need any personal legal advice. Any ideas why bank would mention legal fees? Would that be bank requirement for equity release or would funds be transfered to solicitor first?
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