I have just started taking steps with the intention of switching my existing standard mortgage to a BTL Godiva Mortgages Ltd mortgage. The bank has said that I need a solicitor as part of the process. I spoke to my previous Ludlow conveyancing solicitor who who completed the conveyancing when I first bought the property. The fee estimate they've given of £575 plus disbursements has surprised me as its a refinance than a sale or purchase.
The quote is fractionally on the high side. If you you were to look around you might get the conveyancing a bit cheaper by perhaps £100 plus VAT. On the other hand, providing that you were satisfied with the assistance the firm offered you couldcome to rue choosing an an unknown solicitor. If is important to ensure that the conveyancer can also act for Godiva Mortgages Ltd. You can utilise our search tool to select a Ludlow conveyancing firm on the Godiva Mortgages Ltd member panel, which can often include conveyancing solicitors in Ludlow.
The Ludlow conveyancing firm that just started acting on my house acquisition in Ludlow have without warning closed. I only went with them because I needed a lawyer on the Barclays conveyancing panel and my family Ludlow lawyer was not. I cut them a cheque for two hundred pounds in advance. What are my options?
If you have an estate agent involved then inform them straight away so that they advise the vendors that there may be a slight delay due to reasons beyond your control. Most sellers would 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 Barclays 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 solicitors may be able to help.
It has been three months since my purchase conveyancing in Ludlow completed. I have checked the Land Registry site which shows that I paid £150,000 when infact I paid £160,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the property from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I decided to have a survey carried out on a house in Ludlow before appointing lawyers. I have been told that there is a flying freehold element to the house. The surveyor advised that some banks tend not give a loan on a flying freehold property.
It varies from the lender to lender. Santander has different requirements from Birmingham Midshires. Should you wish to call us we can check via the appropriate lender. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Ludlow. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Ludlow to see if the conveyancing will be more expensive.
I am hoping to exchange soon on a ground floor flat in Ludlow. Conveyancing lawyers have said that they will have a report out to me within the next couple of days. What should I be looking out for?
The report on title for your leasehold conveyancing in Ludlow should include some of the following:
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Whether the landlord has obligations to ensure rights of quiet enjoyment over your property and do you know what it means in practice? Whether the lease restricts you from letting out the property, or working from home An explanation concerning the obligations as set out in the lease to pay service charges - in relation to the building, and the more general rights a lessee has Your solicitors should enable you to have an understanding of the building insurance requirements You should know whether the lease permits you to alter or upgrade anything in the flat- you should know whether any restrictions applies to all alterations or limited to structural alteration, and whether licences for alterations is mandated necessary
I acquired a garden flat in Ludlow, conveyancing was carried out 10 years ago. Can you let me have an estimated range of the fair premium for a lease extension? Equivalent properties in Ludlow with an extended lease are worth £202,000. The average or mid-range amount of ground rent is £60 charged once a year. The lease expires on 21st October 2080
With 56 years remaining on your lease we estimate the price of your lease extension to range between £29,500 and £34,000 as well as legals.
The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of comprehensive due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There may be additional issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information before getting professional advice.
I pay a service charge for my appartment in Ludlow. Due to losing my job and other issues I slipped behind with remittance. I negotiated a payment schedule but there is still three grand outstanding as of today.
I want to dispose of the property and I am panicking this may jeopardize the sale if I have to discharge the amount due now. Do I have to settle before - is this possible?
Your property lawyer should be in a position to negotiate with the appropriate parties, with a new to seeing if they would accept settlement out of the sale proceeds. Here is indicative of why it might be good to choose a lawyer in Ludlow as they are likely to enjoy an established relationship with the management company.