I have just started taking steps with a view to switching my current homeowner loan to a BTL Santander mortgage. The bank has said that I need a lawyer as part of the process. I spoke to the same Fairlop conveyancing solicitor who who did the conveyancing when I first bought the premises. The costs illustration e-mailed to me of £550 is an eye-watering amount to do this as its a refinance than a sale or purchase.
The estimate fees appear a little high. If you are happy to expend time scrutinising costs you might shave off some of the expense by perhaps £125. That being said, if you were satisfied with the legal work the firm provided you couldcome to regret choosing an an untested lawyer. Remember to check the firm can represent Santander. You can utilise our search tool to choose a Fairlop conveyancing firm on the Santander member panel, which can often include conveyancing solicitors in Fairlop.
Having invested time reviewing moneysavingexpert.com for a cheap solicitor in Fairlop, most say that I must look for a CQS accredited solicitor. What is CQS?
The Law Society's Conveyancing Quality Scheme is the recognised quality mark for legal experts in home ownership transfers, trusted by some of the UK's leading banks. Four years ago the Conveyancing Quality Scheme was officially recognised by the Building Societies Association (BSA). The scheme does not cover licenced conveyancers. Fairlop is one of the many areas of the UK where there are CQS lawyers.
There are numerous conveyancing solicitors in Fairlop but how do I know who I should use?
We would encourage you not to go for the cheapest Fairlop conveyancing fees. You really do get what you pay for when it comes to property lawyers. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you go into the conveyancing with your eyes wide open.
is it true that all Fairlop solicitor practices on the HSBC conveyancing panel are governed by the SRA?
As a firm of solicitors, in order to be on the HSBC approved list of solicitors they would need to be governed by the SRA. Many lenders do permit licenced conveyancers on their panel and in that case the practice would be governed by the CLC.
The formalities of my remortgage has taken place for my property in Fairlop. Conveyancing was a necessary evil but I feel I should register my dissatisfaction about the lender. How does one go about formally complaining?
All lenders have complaints procedures. Your first port of call should be one of the lender’s branches or the Customer Care Team at head office. In most cases complaints to a lender are sorted out very quickly. If you feel the matter is not resolved you can write to Financial Ombudsman Service who will take matters further.
Me and my brother purchased a semi-detached Georgian property in Fairlop. Conveyancing lawyer represented me and Alliance & Leicester . I happened to do a free search for it on the Land Registry database and there are two entries: the first freehold, the second leasehold under the exact same property. Is it worth asking Alliance & Leicester to clarify?
You should assess the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Fairlop and other areas of the country and poses no real issues for owners other than when they buy they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also enquire as to the position with the conveyancing lawyer who carried out the work.
I am buying a new build flat in Fairlop. 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 conveyancing.
Set out below is a sample of a few leasehold new build questions that you may expect your new-build leasehold conveyancing in Fairlop
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The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? Please supply a car parking plan. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? 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.
I have been on the look out for a flat up to £195,000 and identified one round the corner in Fairlop I like with a park and railway links nearby, the downside is that it only has 49 years unexpired on the lease. I can't really find anything else in Fairlop suitable, so just wondered if I would be making a grave error acquiring a lease with such few years left?
Should you require a home loan the remaining unexpired lease term will be problematic. Discount the offer by the anticipated lease extension will cost if it has not already been discounted. If the current proprietor has owned the premises for at least twenty four months you could request that they commence the lease extension formalities and then assign 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 solicitor regarding this matter.