I have just started taking steps with a view to changing my domestic home loan to a BTL The Mortgage Works mortgage. The bank has said that I must appoint a solicitor as part of the process. I had a chat my previous Bawtry conveyancing firm who dealt with the legals when I first purchased the premises. The quote they've given of £575 plus disbursements has shocked me as its a remortgage than a sale or purchase.
The charges are a tad high. If you shop around you might decrease the fees marginally by perhaps £125. On the other hand, providing that you were happy with the assistance the firm offered you maylive to regret opting for an an untested solicitor. Remember to be sure that the firm can act for The Mortgage Works. Do utilise our search tool to select a Bawtry conveyancing firm on the The Mortgage Works member panel, which can often include conveyancing solicitors in Bawtry.
We note that you have a search directory identifying firms on the HSBC conveyancing panel. Do firms pay you a commission if I appoint them for our own conveyancing in Bawtry?
We are a listing service only for law firms wishing to communicate if they are on the HSBC conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Bawtry.
We are purchasing a property in Bawtry. It might be a silly question but how we can trust a solicitor? At some point we have to put our life savings into their account. What is the protection we have from them run away with our deposit?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
I have today made my last payment due on my mortgage with Lloyds. I assume I don't need a Bawtry lawyer on the Lloyds panel to remove the mortgage at the Land Registry. Am I right?
If you have finished paying off your Lloyds mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Lloyds mortgage from the register. Lloyds, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Lloyds has sent the Land Registry the discharge electronically, and
- Lloyds has instructed the Land Registry to do so
I can not fathom if my mortgage offer requires a lease extension. I have called into my local Bawtry building society branch on a couple of occasions and was reassured it wasn't a problem and they will lend. My Bawtry conveyancing solicitor - who is on the mortgage company conveyancing panel- called and was told they will not lend in accordance with their UK Finance Lenders’ Handbook minimum lease term requirements. Who do I believe?
Your lawyer must follow the Council of Mortgage Lenders’ Handbook section two requirements for your bank. Unless your lawyer obtains specific confirmation in writing that the bank will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the bank to contact your lawyer in writing confirming that they will accept the number of years remaining.
My wife and I are selling our house in Bawtry and the buyers lawyers are claiming that there is a possibility that the property was built land that was not decontaminated. A high street Bawtry conveyancer would know this is not the case. For the life of me I don't know why the buyers instructed a national conveyancing firm rather than a conveyancing solicitor in Bawtry. Having lived in Bawtry for 4 years we know of no issue. Is it a good idea to get in touch with our local Authority to obtain clarification that the buyers are looking for.
It sounds as though you may have a conveyancing solicitor already. What do they say? You must enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same ailment)
The estate agent has sent us the confirmation of our purchase of a new build apartment in Bawtry. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.
Here is a sample of a few leasehold new build enquiries that you should expect your new-build leasehold conveyancing in Bawtry
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Please supply a car parking plan. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. Please confirm the Lease plans are architect prepared. Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided.
What advice can you give us when it comes to finding a Bawtry conveyancing firm to carry out our lease extension conveyancing?
When appointing a conveyancer for your lease extension (regardless if they are a Bawtry conveyancing firm) it is imperative that he or she should be familiar with the legislation and specialises in this area of work. We suggest that you make enquires with several firms including non Bawtry conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. The following questions could be helpful:
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What are the legal fees for lease extension conveyancing? If the firm is not ALEP accredited then why not?
I am the registered owner of a leasehold flat in Bawtry, conveyancing was carried out May 2007. Can you work out an approximate cost of a lease extension? Corresponding properties in Bawtry with an extended lease are worth £202,000. The ground rent is £60 invoiced annually. The lease runs out on 21st October 2082
With only 57 years unexpired the likely cost is going to span between £28,500 and £33,000 plus plus your own and the landlord's "reasonable" professional fees.
The figure above a general guide to costs for renewing a lease, but we are not able to advice on the actual costs in the absence of detailed investigations. Do not use this information in tribunal or court proceedings. There may be other issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information before getting professional advice.