I have just started taking steps with the intention of transferring my current residential loan to a BTL Nottingham Building Society mortgage. I was told by my mortgage that I must appoint a conveyancer for this. I spoke to my former Bow Street conveyancing practitioner who acted on my behalf when I originally purchased the property. The quote sent of £450 plus VAT is an eye-watering amount to do this as I am not require purchase conveyancing - it’s simply a straightforward remortgage.
The charges appear a tad high. If you shop around you could reduce the fees marginally by perhaps £100 plus VAT. That being said, assuming were pleased with the assistance the firm offered you couldcome to rue choosing an a cheaper conveyancer. Don't forget to enquire that the conveyancer can act for Nottingham Building Society. Do use our search tool to get a quote a Bow Street conveyancing firm on the Nottingham Building Society approved list of lawyers, which can often include conveyancing solicitors in Bow Street.
IfI was to acquire a straightforward propertyin Bow Street mortgage fee and dispense with a survey and no conveyancing searches how much could I expect to have to pay for conveyancing in Bow Street?
The sole reduction in fees you would achieve is the Bow Street conveyancing searches. Your conveyancing practitioner still be obliged to do everything else - money laundering, liaising with the sellers solicitor, SDLT return, register the ownership etc. A marginal saving might be made by not having to register a mortgage however it will not be significant.
Can your site be used to find a Conveyancing solicitor in Bow Street even where I’m not buying or disposing of a house, for instance if I wish to buy a shop in Bow Street with a mortgage from Nationwide Building Society?
The service is primarily there to find domestic conveyancing solicitors in Bow Street but we have set out towards the bottom of this page some Bow Street commercial conveyancing firms. You will need to enquire with the firm directly to establish if they are also authorised to represent Nationwide Building Society
The estate agent has sent us the confirmation of our purchase of a new build apartment in Bow Street. Conveyancing is a frightening process 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 legal work.
Here is a sample of a selection of leasehold new build enquiries that you should expect your new-build leasehold conveyancing in Bow Street
-
The Vendor must covenant to keep unoccupied units in good repair until long leases are granted therefore. There must be mutual enforceability of lessee’s covenants. Please confirm the Lease plans are surveyor prepared. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company?
I work for a long established estate agent office in Bow Street where we have witnessed a few flat sales put at risk due to leases having less than 80 years remaining. I have been given contradictory information from local Bow Street conveyancing firms. Could you confirm whether the owner of a flat can commence the lease extension process for the purchaser on completion of the sale?
Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer can avoid having to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or at the same time as completion of the sale.
Alternatively, it may be possible to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.
Bow Street Conveyancing for Leasehold Flats - Examples of Questions you should ask before Purchasing
-
Are any of leasehold owners in dispute over their service charge payments? Does the lease have onerous restrictions?
Is it the case that all Bow Street property lawyers on every bank conveyancing panel?
You can use our search tool or you can pop into your high street lender branch in Bow Street. Chances are that they can recommend conveyancing solicitors in Bow Street