I have just started taking steps with the aim of porting my current homeowner home loan to a Buy to Let Yorkshire Building Society mortgage. The bank has said that I need a lawyer for this. I had a chat my former Farnham conveyancing solicitor who dealt with the legals when I originally purchased the property. The quote supplied of £575 plus disbursements has taken me by surprise as I am not require purchase conveyancing - it’s simply a bog-standard refinance.
The estimate fees seem a bit high. If you shop around you could decrease the fees marginally by perhaps £125. On the other hand, if you were satisfied with the service the firm provided you couldcome to rue opting for an a cheaper solicitor. Remember to check that the firm can represent Yorkshire Building Society. You can use our search tool to select a Farnham conveyancing firm on the Yorkshire Building Society conveyancing panel, which can often include conveyancing solicitors in Farnham.
My partner and I are buying a new build apartment in Farnham and my conveyancer is informing me that she is duty bound to the mortgage company to disclose incentives from the seller. I am on a tight deadline to exchange contracts and I have no desire to delay the conveyancing. Is my lawyer right?
You should not exchange unless you have been advised to do so by your conveyancer. A precondition to being on a bank panel is to comply with the UK Finance Lenders’ Handbook conditions. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
I am buying a semi-detached house in Farnham. How practical is it for me to do the conveyancing?
Leaving aside the complexities and merits of DIY conveyancing in Farnham you will have to appoint a solicitor on your mortgage company's conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to be made in you doing conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on your lender panel in Farnham.
We are close to exchanging contracts on the sale of our home in Farnham and according to the buyers it appears that there is a risk of it being built land that was not decontaminated. A high street Farnham conveyancer would know this is not the case. It does beg the question why the purchasers are using a nationwide conveyancing outfit as opposed to a conveyancing solicitor in Farnham. Having lived in Farnham for 4 years we know that this is a non issue. Do we contact our local Authority to obtain confirmation that the buyers are looking for.
It would appear that you have a conveyancing solicitor already. Are they able to advise? 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 life insurance to cover that same ailment)
I have been on the look out for a ground for flat up to £195,000 and found one close by in Farnham I like with amenity areas and transport links nearby, the downside is that it only has 49 years on the lease. I can't really find anything else in Farnham for this price, so just wondered if I would be making a grave error acquiring a short lease?
If you need a mortgage the shortness of the lease will likely be an issue. Reduce the price by the amount the lease extension will cost if it has not already been discounted. If the current owner has owned the premises for at least 2 years you can ask them to commence the lease extension formalities and pass it to you. You can add 90 years to the existing lease term with a zero ground rent applied. You should speak to your conveyancing solicitor concerning this matter.
At what stage do I cover the costs of stamp duty payable for my Farnham flat purchase?
The conveyancing practitioner should complete a stamp duty return on your behalf as part of your Farnham conveyancing transaction for you to sign. On completion your property lawyer will submit your STL application to the Inland Revenue and - assuming they have the funds - pay any tax bill due on your behalf.