I'm in the process of changing my domestic home loan to a BTL Nottingham Building Society mortgage. I have been informed by my broker that I require a solicitor as part of the process. I had a chat my past Farnham Common conveyancing solicitor who who completed the conveyancing when I initially purchased the house. The fee calculation provided of £450 plus VAT is an eye-watering amount to do this as its a refinance than a sale or purchase.
The estimate does seem a tad overpriced. If you are happy to invest time comparing quotes you could trim some of the expense by as much as £100 plus VAT. That being said, providing that you were satisfied with the assistance the firm provided you mightcome to regret opting for an a cheaper solicitor. If is important to be sure the solicitor can also act for Nottingham Building Society. You can employ our search tool to locate a Farnham Common conveyancing firm on the Nottingham Building Society approved list of lawyers, which can often include conveyancing solicitors in Farnham Common.
We note that you have a post code search directory identifying firms on the Bank of Ireland conveyancing panel. Do firms pay you a referral fee if I retain them for our conveyancing in Farnham Common?
We are a listing service only for law firms wishing to communicate if they are on the Bank of Ireland conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Farnham Common.
I am considering applying for a RBS mortgage for purchase of a new build (under development) in Farnham Common with 70% loan to value. Is it compulsory to choose a solicitor on the conveyancing panel for RBS ?
There is nothing to stop you using your solicitor, but RBS will insist on their interests being represented by a firm on their conveyancing panel. There is greater potential for delays and confusion with an additional lawyer added to the mix, and it will undoubtedly be more expensive too.
This question may be naive but I am new to the home buying as a 1st time buyer of a ground floor flat in Farnham Common. Do I collect the keys to the premises on completion from my lawyer? If so, I will use a High Street conveyancing solicitor in Farnham Common?
There is no need to visit the lawyers office on the day of completion. Conveyancing lawyers for you will transfer the purchase money to the seller's solicitors, and shortly after the monies have arrived, you should be called to pick up the keys from the selling Agents and start moving into the property. This tends to happen between 1 and 3pm.
Is it correct that all Farnham Common CQS (Conveyancing Quality Scheme) solicitors are on the Aldermore conveyancing list of approved solicitors?
It is true that some lenders now utilise the accreditation scheme as the kick off point for Panel approval such as HSBC and Santander. CQS membership however gives no guarantee to lender panel acceptance. Nevertheless,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for solicitors wishing to remain on their panels.
I am due to exchange contracts on my house. I had a double glazing fitted in April 2006, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's mortgage company, Aldermore are being a right pain. The Farnham Common solicitor who is on the Aldermore conveyancing panel is saying indemnity insurance will be fine but Aldermore are requiring a building regulation certificate. Why do Aldermore have a conveyancing panel if they don't accept advice from them?
It is probably the case that Aldermore have referred the matter to their valuer. The reason why Aldermore may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
I've recently found out that there is a flying freehold issue on a house I put an offer in last month in what should have been a straight forward, no chain conveyancing. Farnham Common is the location of the property. Can you offer any advice?
Flying freeholds in Farnham Common are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Farnham Common you must be sure that your lawyer goes through the deeds thoroughly. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Farnham Common may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
Having checked my lease I have discovered that there are only Seventy years unexpired on my lease in Farnham Common. I now want to get lease extension but my freeholder is absent. What options are available to me?
On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will mean that your lease can be granted an extra 90 years by the magistrate. However, you will be required to prove that you or your lawyers have used your best endeavours to locate the landlord. In some cases an enquiry agent should be useful to try and locate and to produce a report to be used as proof that the freeholder can not be located. It is advisable to get professional help from a solicitor in relation to devolving into the landlord’s disappearance and the vesting order request to the County Court covering Farnham Common.
I invested in buying a ground floor flat in Farnham Common, conveyancing formalities finalised half a dozen years ago. Can you let me have an estimated range of the fair premium for a lease extension? Comparable flats in Farnham Common with an extended lease are worth £206,000. The average or mid-range amount of ground rent is £45 per annum. The lease ceases on 21st October 2092
With 67 years unexpired the likely cost is going to span between £10,500 and £12,000 plus plus your own and the landlord's "reasonable" professional fees.
The suggested premium range above a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of comprehensive investigations. You should not use the figures in tribunal or court proceedings. There may be additional concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information without first getting professional advice.