I am in the throes of transferring my current homeowner mortgage to a Buy to Let Santander mortgage. I was told by my financial advisor that I need a conveyancer for this. I had a chat the same Highams Park conveyancing firm who who completed the conveyancing when I initially bought the property. The pricing estimate they've given of £500 has surprised me as its a remortgage than a sale or purchase.
The estimate does seem a tad overpriced. If you you were to look around you might shave off some of the expense by say £100 plus VAT. That being said, if you were pleased with the conveyancing the firm offered you mightlive to regret choosing an a cheaper lawyer. Don't forget to enquire the conveyancer can also act for Santander. You can utilise our search tool to get a quote a Highams Park conveyancing firm on the Santander member panel, which can often include conveyancing solicitors in Highams Park.
AssumingI was to purchase a straightforward housein Highams Park mortgage fee and have no survey and no conveyancing searches how much would I expect to to save on my conveyancing in Highams Park?
The only reduction in fees you would achieve is the costs for searches. A conveyancing practitioner is required to do the vast majority of work - money laundering, communicating with the vendors lawyer, stamp duty submission, register the ownership etc. You might save a bit for them not needing to register a charge but it won't be a lot.
Will conveyancers ask for money on account when it comes to conveyancing in Highams Park?
Where you are retaining lawyers for conveyancing in Highams Park your lawyer will ask you to provide them with monies to cover the the cost of the conveyancing searches. Normally this is requested to cover the fees of the conveyancing searches. If any down payment is payable against the total price then this will be needed immediately before exchange of contracts. The final balance that is due will be payable shortly before completion.
My fiancee and I are spending time viewing houses in Highams Park and I am now considering a potential offer. Is it too early to have a solicitor in place? I am planning to take a home loan with Virgin Money.
You should start obtaining conveyancing quotes from solicitors ASAP. After you have chosen your lawyer and once your offer is accepted you can instruct them to work for you and pass their details on to the selling agent. As you are obtaining a mortgage with Virgin Money, make sure you remember to check that your lawyer is on the Virgin Money conveyancing panel.
The mortgage over my property is with Bank of Ireland for my property in Highams Park. Conveyancing has been completed 12 months ago. Should I wish to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Bank of Ireland?
You must advise Bank of Ireland in advance of letting out your property as this is likely to be a breach of Bank of Ireland’s mortgage conditions. In many cases banks or building societies will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Bank of Ireland directly. It should not be necessary to do this via a Bank of Ireland conveyancing panel solicitor.
I can not work out if my mortgage offer obliges me to make sure the lease term for the flat is extended prior to the completion date. I have called my Highams Park bank branch on numerous occasions and was advised it wasn't a problem and they would lend. My Highams Park conveyancing solicitor - who is on the bank conveyancing panel- called to say that they refuse to lend in accordance with their specific requirements. Who do I believe?
As long as the conveyancing practitioner is on the bank approved list, she or he must adhere to the Council of Mortgage Lenders’ Handbook provisions for the lender. Unless your lawyer obtains specific confirmation in writing that the mortgage company will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the lender to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
A colleague suggested that if I am buying in Highams Park I should ask my conveyancer to perform a Neighbourhood, Planning and Local Amenity Search. What does it cover?
This is a search is usually quoted for as part of the standard Highams Park conveyancing searches. It is not a small document of more than thirty pages, listing and detailing important information about Highams Park around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average House Prices, Crime statistics, Highams Park Education with plans and statistics, Local Amenities and other useful information concerning Highams Park.
I pay a service charge for my appartment in Highams Park. As a result of personal circumstances I fell behind with remittance. I negotiated a settlement schedule but there remains three thousand pounds currently outstanding.
I am under pressure to dispose of the property and I am worried this can hold me back if I have to discharge the arrears now. I'd like to sell up and then discharge the debt from the completion monies - is this achievable?
Your lawyer should be able to negotiate with the management company, and agree with them whether or not they would accept payment from sale proceeds. Here is indicative of why it is advisable to instruct a conveyancer in Highams Park as they are likely to enjoy an established relationship with the parties.