Just been in touch with my conveyancing solicitor in Honor Oak who acted for me 18 months ago and wanted a conveyancing costs illustration based on an identical type of house sale & purchase (a leasehold property and a freehold premises) of similar values with a loan from The Royal Bank of Scotland. I am now being quoted double. Should I look for an alternative conveyancer?
The costs illustration is slightly on the high side. If you are willing to invest time scrutinising prices you might decrease the fees slightly by as much as £100 plus VAT. That being said, assuming were content with the conveyancing the firm provided you maycome to rue choosing an a cheaper conveyancer. If is important to enquire the conveyancer can also act for The Royal Bank of Scotland. Do make use of our search tool to select a Honor Oak conveyancing firm on the The Royal Bank of Scotland approved list of lawyers, which can often include conveyancing solicitors in Honor Oak.
My solicitor has uncovered a a legal deficiency with the lease for the apartment we are purchasing in Honor Oak. The seller’s lawyers have put forward title insurance as a solution. We are content with insurance and will pay for it. Our conveyancer has advised that he must ensure that the mortgage company is willing to move forward with this solution. Are we the client or is the bank?
Regardless of the fact that you have a mortgage offer from the bank does not mean to say that the property will meet their specifications for the purposes of a mortgage. Your lawyer has to ensure that the lease has to comply with the UK Finance Lenders’ Handbook conditions. You and the lender are the client. The appropriate lender requirements have to be complied with.
We are getting the release of further funds on our home loan from Bank of Ireland as we want to conduct a loft conversion to our home in Honor Oak. Do we need to select a bricks and mortar Honor Oak solicitor on the Bank of Ireland conveyancing panel to deal with the paperwork?
Bank of Ireland would not normally require firms on their approved list of lawyers to deal with such a matter. If they do require any legal work then you would need to ensure that such a lawyer was on the Bank of Ireland conveyancing panel.
I have today made my last payment due on my mortgage with HSBC. I assume I don't need a Honor Oak property lawyer on the HSBC panel to discharge the mortgage at the Land Registry. Am I right?
If you have finished paying off your HSBC mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the HSBC mortgage from the register. HSBC, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where HSBC has sent the Land Registry the discharge electronically, and
- HSBC has instructed the Land Registry to do so
I currently have a mortgage with Virgin Money for my property in Honor Oak. Conveyancing was finalised months ago. Should I wish to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Virgin Money?
Your original mortgage agreement with Virgin Money will provide that you need their approval before renting your property as this is likely to be a breach of Virgin Money’s mortgage conditions. It may be that Virgin Money 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 Virgin Money directly. You need not do this via a Virgin Money conveyancing panel lawyer.
What makes your site different to other online quote calculators when it comes to conveyancing in Honor Oak?
At this site obtain an accurate quote from a Solicitor or Licensed Conveyancer that appreciates the issues for your conveyancing in Honor Oak. Unlike many estate agents and many comparison sites we are not in the business of charging firms a commission if you select them for your home move in Honor Oak
I work for a busy estate agent office in Honor Oak where we have witnessed a number of leasehold sales jeopardised due to leases having less than 80 years remaining. I have received conflicting advice from local Honor Oak conveyancing solicitors. Please can you shed some light as to whether the seller of a flat can initiate the lease extension formalities for the purchaser on completion of the sale?
Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer can avoid having to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or simultaneously with completion of the disposal of the property.
Alternatively, it may be possible to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.
I have given up trying to purchase the freehold in Honor Oak. Can the Leasehold Valuation Tribunal adjudicate on premiums?
if there is a missing landlord or where there is disagreement about the premium for a lease extension, under the relevant legislation it is possible to make an application to the Leasehold Valuation Tribunal to determine the sum to be paid.
An example of a Lease Extension case for a Honor Oak premises is Flat 1 40-42 Ewelme Road in August 2012. the Tribunal assessed the premium for the lease extension in the sum of £11,800 This case affected 1 flat. The unexpired term was 61.81 years.
At long last a loan agreement from a mortgage company for the refinancing of my 4 bedroom flat is coming by the end of next week. Could you recommend an efficient remortgage conveyancing solicitor in Honor Oak ?
This site is not designed to help in pursuit of the lowest fares for conveyancing solicitors in Honor Oak. We can offer you cost effective conveyancing but we do not advertise as being the cheapest. Resist the temptation to appoint brokers offering £99 conveyancing in Honor Oak.At best, in opting for cheap conveyancing, you will end up with what you pay for and at worst you will end up being stung for additional fee and still not get the service you were looking for.