I have just started taking steps with the aim of swapping over from my current residential loan to a BTL Santander mortgage. I was told by my mortgage that I require a lawyer as part of the process. I spoke to my former Pitsea conveyancing firm who dealt with the legals when I previously purchased the house. The costs illustration e-mailed to me of £450 plus VAT has taken me by surprise as its a remortgage than a sale or purchase.
The charges appear a little high. If you shop around you might get the conveyancing a bit cheaper by as much as a hundred pounds. On the other hand, if you were satisfied with the service the firm offered you couldcome to regret opting for an a cheaper conveyancer. Don't forget to enquire that the solicitor can act for Santander. Do utilise our search tool to get a quote a Pitsea conveyancing firm on the Santander member panel, which can often include conveyancing solicitors in Pitsea.
My partner and I are acquiring a brand new duplex in Pitsea and my lawyer is telling me that she has to the lender to reveal incentives from the developer. The Estate Agents are hassling me to exchange contracts and I have no desire to delay the conveyancing. is my lawyer playing by the book?
You should not exchange unless you have been advised to do so by your conveyancer. A precondition to being on a mortgage company panel is to comply with the UK Finance Lenders’ Handbook conditions. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
Can you explain why leasehold purchase conveyancing in Pitsea is more expensive?
Pitsea leasehold conveyancing transactions usually involve additional investigations than freeholds including investigating the Lease, liaising with the Landlord such as serving relevant notices on the Landlord or managing agent, obtaining up-to-date service charge and management information, obtaining Landlord’s consents and reviewing management accounts and formation documents.
I'm the single recipient of my late grandmother’s estate and I have everything in my name now, including the my former home in Pitsea. Conveyancing formalities meant that the Land Registry date was in November. I now wish to sell up. I do know about the CML 6 month 'rule', which means that my proprietorship may be treated the same way as if I'd bought the house in November. Is the property unsalable for six months?
The Council of Mortgage Lenders’ handbook requires solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you may be caught by that. Some lenders would take a sensible view as this obligation principally exists to identify subsales or the wholesaling and assigning of properties.
I have paid off my mortgage with Bank of Ireland. I assume I don't need a Pitsea conveyancing practitioner on the Bank of Ireland panel to discharge the mortgage at the Land Registry. Please confirm.
If you have finished paying off your Bank of Ireland 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 Bank of Ireland mortgage from the register. Bank of Ireland, 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 Bank of Ireland has sent the Land Registry the discharge electronically, and
- Bank of Ireland has instructed the Land Registry to do so
Intending to buy a flat in Pitsea. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Virgin Money conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Pitsea lawyer is on the Virgin Money conveyancing panel.
I need some fast conveyancing in Pitsea as I am under a deadline to complete inside 4 weeks. Luckily I do not need a mortgage. Can I decline from having conveyancing searches to save fees and time?
If.Given you are not getting a home loan you are at free not to have searches carried out although no solicitor would advise that you don't. Drawing on our experience of conveyancing in Pitsea the following are examples of issues that can arise and adversely impact market value: Enforcement Notices, Overdue Fees, Overdue Grants, Railway Schemes,...
I am in need of some leasehold conveyancing in Pitsea. Before I set the wheels in motion I require certainty as to the unexpired term of the lease.
If the lease is registered - and most are in Pitsea - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
I purchased a basement flat in Pitsea, conveyancing formalities finalised in 2005. Can you let me have an estimated range of the fair premium for a lease extension? Similar flats in Pitsea with an extended lease are worth £165,000. The average or mid-range amount of ground rent is £50 per annum. The lease expires on 21st October 2099
With only 77 years unexpired we estimate the price of your lease extension to be between £7,600 and £8,800 plus professional fees.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to provide a more accurate figure without more detailed investigations. You should not use the figures in tribunal or court proceedings. There are no doubt other issues that need to be considered and you obviously should be as accurate as possible in your negotiations. You should not take any other action based on this information without first seeking the advice of a professional.