I am in the throes of transferring my domestic mortgage to a BTL TSB mortgage. The bank has said that I need a conveyancer as part of the process. I had a chat my past Canvey Island conveyancing practitioner who dealt with the legals when I initially purchased the premises. The costs illustration they've given of £500 has shocked me as its a remortgage than a sale or purchase.
The costs illustration is fractionally on the expensive side. If you shop around you could trim some of the expense by as much as £125. That being said, if you were content with the assistance the firm gave you mightcome to rue opting for an an untested solicitor. Remember to enquire the conveyancer can represent TSB. You can utilise our search tool to find a Canvey Island conveyancing firm on the TSB approved list of lawyers, which can often include conveyancing solicitors in Canvey Island.
In the event thatI were to purchase a freehold housein Canvey Island mortgage fee and have no survey and no conveyancing searches how much should I expect to have to pay for conveyancing in Canvey Island?
The only reduction in fees you would make on is the disbursement for searches. A lawyer is required to do the vast majority of work - money laundering, liaising with your vendors solicitor, stamp duty submission, register the ownership etc. You might save a bit for them not needing to register a charge but it will not be meaningful.
We are purchasing a property and require a conveyancing solicitor in Canvey Island who is on the Coventry BS solicitor panel. Can you recommend a local firm?
Our service is limited to being a directory service for firms who wish to be listed as being on the approved conveyancing panel for Coventry BS . We don't recommend any particular firms conducting conveyancing in Canvey Island.
We're in Canvey Island, First time buyers buying with a mortgage (lender is Skipton , and our solicitor is on the Skipton conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Skipton conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no lawyer should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
When it comes to mortgage companies such as Leeds Building Society, do Canvey Island property lawyers face an annual charge to be on the conveyancing panel?
We are not aware of any bank fees to be on their list of approved firms, although some do levy an administration fee to deal with the processing of the conveyancing panel application.
I have paid off my mortgage with Lloyds. I assume I don't need a Canvey Island conveyancing practitioner on the Lloyds panel to discharge 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 am currently in the process of buying my council flat in Canvey Island. I have a mortgage offer with RBS. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should have one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with RBS, you will need to appoint a solicitor on the RBS conveyancing panel.
All being well we will complete the disposal of our £475,000 garden flat in Canvey Island in 8 days. The landlords agents has quoted £396 for Landlord’s certificate, insurance certificate and previous years statements of service charge. Is the landlord entitled to charge an administration fee for a leasehold conveyance in Canvey Island?
Canvey Island conveyancing on leasehold apartments usually necessitates the purchaser’s conveyancer sending questions for the landlord to address. Although the landlord is not legally bound to respond to these enquiries most will be content to assist. They are at liberty to invoice a reasonable administration fee for responding to enquiries or supplying documentation. There is no upper cap for such fees. The average costs for the information that you are referring to is over three hundred pounds, in some cases it is above £800. The management information fee required by the landlord must be sent together with a synopsis of rights and obligations in relation to administration charges, without which the invoice is not strictly payable. Reality however dictates that one has no option but to pay whatever is requested of you if you want to sell the property.
I bought a 1 bedroom flat in Canvey Island, conveyancing was carried out 4 years ago. How much will my lease extension cost? Comparable flats in Canvey Island with over 90 years remaining are worth £265,000. The ground rent is £50 levied per year. The lease ceases on 21st October 2100
With only 75 years unexpired we estimate the premium for your lease extension to range between £8,600 and £9,800 plus professional fees.
The figure that we have given is a general guide to costs for extending a lease, but we are not able to provide the actual costs in the absence of comprehensive due diligence. Do not use the figures in tribunal or court proceedings. There are no doubt additional concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Please do not move forward based on this information before seeking the advice of a professional.