I am in the throes of swapping over from my existing standard loan to a BTL HSBC Bank mortgage. I was told by my financial advisor that I must appoint a conveyancer for this. I spoke to my previous Old Windsor conveyancing firm who who conducted the conveyancing when I initially bought the premises. The pricing estimate issued of £575 plus disbursements is an eye-watering amount to do this as I am not require purchase conveyancing - it’s just a straightforward remortgage.
The quote is fractionally on the expensive side. If you you were to look around you might shave off some of the expense by perhaps a hundred pounds. That being said, providing that you were happy with the service the firm gave you maylive to regret choosing an an unknown solicitor. If is important to be sure that the conveyancer can represent HSBC Bank. You can make use of our search tool to choose a Old Windsor conveyancing firm on the HSBC Bank approved list of lawyers, which can often include conveyancing solicitors in Old Windsor.
It is is a decade since I acquired my home in Old Windsor. Conveyancing lawyers have just been appointed on the sale but I can't track down the title deeds. Is this a major issue?
You need not be too concerned. First the deeds may be with your lender or they could be in the possession of the solicitor who handled your purchase. Secondly in all probability the property will be registered at the land registry and you will be able to establish that you are the registered owner by your conveyancing solicitors obtaining up to date copy of the land registers. Nearly all conveyancing in Old Windsor relates to registered property but in the rare situation where your property is unregistered it is more of a problem but is not insurmountable.
Can you clarify what the consequences are if my lawyer’s firm is suspended from the Leeds Building Society Conveyancing panel ahead of completing my conveyancing in Old Windsor?
First, this is very unlikely to happen. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit for a fee.
What does a local search tell me about the property I am buying in Old Windsor?
Old Windsor conveyancing often commences with the submitting local authority searches directly from your local Authority or through a personal search company for example PSG The local search is essential in every Old Windsor conveyancing purchase; as long as you wish to avoid any unpleasant surprises after you move into your new home. The search will reveal data on, amongst other things, details on planning applications relevant to the property (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of 13 subject headings.
I have recentlybecome aware that Stirling Law have closed. They carried out my conveyancing in Old Windsor for a purchase of a leasehold flat 12 months ago. How can I be sure that my home is not still registered in the name of the former proprietor?
The easiest way to check if the premises is registered to you, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Old Windsor conveyancing specialists.
Can you provide any advice for leasehold conveyancing in Old Windsor with the purpose of expediting the sale process?
- Much of the frustration in leasehold conveyancing in Old Windsor can be bypassed where you get in touch lawyers the minute you market your property and ask them to collate the leasehold documentation which will be required by the purchasers’ conveyancers. In the event that you altered the property did you need the Landlord’s consent? Have you, for example laid down wooden flooring? Old Windsor leases often stipulate that internal structural alterations or installing wooden flooring calls for a licence from the Landlord acquiescing to such changes. If you dont have the approvals in place do not communicate with the landlord without checking with your solicitor in the first instance. Some Old Windsor leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, you should place the estate agents on notice to make sure that the purchasers put in hand financial (bank) and professional references. The bank reference should make it clear that the buyer is financially capable of paying the annual service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the actual amount of the service charge so that they can pass this information on to the buyers or their solicitors. You may think that you are aware of the number of years remaining on your lease but it would be advisable double-check by asking your lawyers. A purchaser's conveyancer will not be happy to advise their client to where the remaining number of years is less than 75 years. In the circumstances it is essential at an early stage that you identify whether the lease term for your property needs extending. If it does, contact your solicitors before you put your premises on the market for sale.
I purchased a basement flat in Old Windsor, conveyancing formalities finalised 4 years ago. Can you work out an approximate cost of a lease extension? Equivalent flats in Old Windsor with an extended lease are worth £171,000. The average or mid-range amount of ground rent is £50 invoiced every year. The lease expires on 21st October 2105
With 79 years unexpired we estimate the price of your lease extension to span between £8,600 and £9,800 as well as professional fees.
The suggested premium range above a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of comprehensive investigations. You should not use this information in tribunal or court proceedings. There may be additional issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. You should not move forward placing reliance on this information without first getting professional advice.