I'm in the process of switching my current residential home loan to a BTL Lloyds TSB Bank mortgage. The bank has said that I must appoint a lawyer as part of the process. I got in contact with my former Chessington conveyancing practitioner who who did the conveyancing when I previously acquired the house. The fee calculation sent of £450 plus VAT has surprised me as I am not require purchase conveyancing - it’s simply a straightforward remortgage.
The estimate does seem a tad steep. If you you were to look around you might get the conveyancing a bit cheaper by say £100 plus VAT. That being said, if you were content with the assistance the firm gave you couldcome to rue opting for an an untested solicitor. If is important to enquire that the firm can act for Lloyds TSB Bank. Do use our search tool to select a Chessington conveyancing firm on the Lloyds TSB Bank approved list of lawyers, which can often include conveyancing solicitors in Chessington.
Should my solicitor be making enquiries concerning flooding as part of the conveyancing in Chessington.
Flooding is a growing risk for conveyancers conducting conveyancing in Chessington. There are those who buy a house in Chessington, completely expectant that at some time, it may suffer from flooding. However, aside from the physical destruction, where a house is at risk of flooding, it may be difficult to get a mortgage, adequate insurance cover, or dispose of the premises. There are steps that can be taken during the course of a house purchase to forewarn the purchaser.
Solicitors are not qualified to offer advice on flood risk, however there are a number of checks that can be undertaken by the buyer or on a buyer’s behalf which can give them a better understanding of the risks in Chessington. The standard completed inquiry forms sent to a purchaser’s conveyancer (where the Conveyancing Protocol is adopted) includes a standard question of the vendor to find out whether the property has suffered from flooding. If the property has been flooded in past and is not notified by the owner, then a purchaser could commence a legal claim for losses stemming from an misleading reply. The purchaser’s conveyancers should also order an environmental search. This will higlight if there is a recorded flood risk. If so, more detailed investigations will need to be made.
Just had an offer accepted on a new build apartment in Chessington. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.
Set out below is a sample of a few leasehold new build questions that you should expect your new-build leasehold conveyancing in Chessington
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Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? Please supply a car parking plan. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? Please confirm the Lease plans are architect prepared. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose?
I am looking for a flat up to £235,500 and found one round the corner in Chessington I like with a park and station nearby, however it only has 61 years on the lease. I can't really find anything else in Chessington in this price bracket, so just wondered if I would be making a grave error purchasing a lease with such few years left?
If you require a home loan the remaining unexpired lease term may be problematic. Reduce the offer by the anticipated lease extension will cost if not already taken into account. If the current proprietor has owned the premises for a minimum of twenty four months you can ask them to commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the current lease term and have £0 ground rent by law. You should consult your conveyancing lawyer about this.
We are one month into a freehold purchase having been directed to conveyancers by the local agent to perform conveyancing in Chessington. I am am extremely dissatisfied with the level of service. Could you you assist me in finding new solicitors?
A conveyancer would need to be really bad to suggest replacing them. Has the loan offer been sent? In the event that it has you will need to inform them of the replacement solicitor and have the offer are re-issued. The conveyancer should be on the banks approved list to avoid supplemental fees and frustration. That should be your starting point. The search tool will assist you in finding a bank approved lawyer for your home move in Chessington
My fiance and I are buying a 2 room bungalowin Chessington with a residential mortgage from a bank. We have a lawyer in Chessington yet our mortgage company says he's not approved on their "panel". We have to appoint one of the our bank panel firms or stay with our Chessington solicitor and incur the extra fees for one of their panel ones to represent them. This seems very unfair; Can we not simply insist that our mortgage company use our Chessington lawyer?
No, not really. The bank home loan offered to you is subject to its terms and conditions, one of which will be that solicitors will on the mortgage company's conveyancing panel. Until recently, most lenders had open panels, including most conveyancing solicitors in Chessington : a mortgagee could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your lawyer to apply to be on the conveyancing panel for your mortgage company.