I am in the throes of swapping over from my current residential loan to a BTL Coventry Building Society mortgage. The bank has said that I require a lawyer for this. I spoke to my past Liss conveyancing solicitor who dealt with the legals when I originally purchased the property. The pricing estimate provided of £500 is surprising as its a refinance than a sale or purchase.
The estimate does seem a tad steep. Where you are willing to spend time scrutinising costs you may be able to shave off some of the expense by say £100 plus VAT. That being said, providing that you were content with the conveyancing the firm gave you mightlive to rue opting for an a cheaper solicitor. Remember to be sure that the conveyancer can represent Coventry Building Society. Do use our search tool to select a Liss conveyancing firm on the Coventry Building Society conveyancing panel, which can often include conveyancing solicitors in Liss.
The Liss conveyancing firm that just started acting on my purchase in Liss have without warning closed. They were on acting for me because I had to have a firm on the UBS conveyancing panel and my family Liss lawyer was not. I wrote them a cheque for £250 in advance. What do I do now?
Assuming that you have an Estate Agent in the equation then let them know straight away so that they can let the sellers know that there may be a slight delay due to the problems encountered. Hopefully they will be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You will need to appoint new lawyers that are on the UBS conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new lawyers may be able to assist.
My friend advised me that where I am buying in Liss I should carry out a Neighbourhood, Planning and Local Amenity Search. What does it cover?
This is a search is sometimes quoted for as part of the standard Liss conveyancing searches. It is not a small document of more than thirty pages, listing and detailing important information about Liss 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 type of People living in the area, the dominant type of Housing, the Average House Prices, Crime statistics, Liss Education with maps and statistics, Local Amenities and other useful information concerning Liss.
Are there restrictive covenants that are commonly picked up as part of conveyancing in Liss?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the legal transfer of property in Liss. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
Yesterday I discovered that there is a flying freehold element on a property I have offered on last month in what should have been a straight forward, no chain conveyancing. Liss is the location of the property. Can you shed any light on this issue?
Flying freeholds in Liss are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Liss you must be sure that your lawyer goes through the deeds thoroughly. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Liss 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.
When it comes to my conveyancing in Liss should I be paying VAT on the following: (1) Land reg fee on purchase (2) Pre - completion search fee (3) SDLT E submission on purchase (4) Bank TT fee
(1) Land reg fee on purchase - No (2) Pre - completion search fees -No, (such conveyancing searches are HMLR ones and means £4 and possibly £2 bankruptcy per name on your mortgage) (3) SDLT E submission on your purchase - There is no VAT on Stamp Duty. However if the firm is charging a stamp duty e-submission fee as part of their services - some Liss conveyancers do - that will incur VAT(4) Bank transfer fee - Yes it is for the conveyancing practitioner's time in submitting the funds this way.