I was referred a solicitor who has given a fee estimate £1350 for no move no fee conveyancing in Ponders End. I am hoping to downsize from a Edwardian property for £175,000. Are these estimated fees excessive? Is it in excess of the norm for conveyancing in Ponders End?
The charges are a bit high. Where you are willing to spend time scrutinising prices you could get the conveyancing a bit cheaper by say £100 plus VAT. That being said, you couldcome to rue opting for an a cheaper conveyancer. Don't forget to enquire that the solicitor can represent your mortgage company. You can employ our search tool to find a Ponders End conveyancing company on the banks approved list of lawyers which can often include conveyancing solicitors in Ponders End.
My grandson is purchasing a newly built flat in Ponders End with a mortgage from Skipton. His solicitor has said that there is a delay in completing the ‘Disclosure of Incentive Form’. What is this document - I have never come across this before?
The document is intended to provide information to the main parties involved in the transaction. Therefore, it will be provided to your son’s lawyer who should be on the Skipton conveyancing panel as a standard part of the process, and to the valuer when asked. The developer will be required to start the process by downloading the form and completing it. The form will therefore need to be available for the valuer at the time of his or her site visit. The form should be sent to the Skipton conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
I currently have a mortgage with Yorkshire BS for my property in Ponders End. Conveyancing was finalised months ago. If I am intending to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Yorkshire BS?
Your original mortgage agreement with Yorkshire BS will provide that you need their approval before letting out your property as this is likely to be a breach of Yorkshire BS’s mortgage conditions. It may be that Yorkshire BS 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 Yorkshire BS directly. You need not do this via a Yorkshire BS conveyancing panel lawyer.
Completion of my remortgage has taken place for my property in Ponders End. Conveyancing was satisfactory but I would like to complain about the lender. How do I make a complaint?
Most banks and building societies have complaints procedures. Your first point of contact should be one of the lender’s branches or the Customer Services Team at head office. In most cases complaints to a lender are resolved effectively and efficiently. However if you are not satisfied that the matter is not resolved you can write to Financial Ombudsman Service who will take matters further.
It is not clear whether my bank requires a lease extension. I have called into my local Ponders End bank branch on a couple of occasions and was told they are content with the situation and they will lend. My Ponders End conveyancing solicitor - who is on the mortgage company conveyancing panel- telephoned to say that they will not lend in accordance with their published requirements. Who do I believe?
As long as the conveyancing practitioner is on the mortgage company approved list, they must comply with the CML Handbook conditions for the lender. Unless your lawyer obtains specific confirmation in writing that the bank 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 mortgage company to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
I have a renovated Georgian house in Ponders End. Conveyancing lawyer acted for me and Coventry Building Society. I happened to do a free search for it on the Land Registry database and there are two entries: the first freehold, another for leasehold with the matching address. I thought I was buying a freehold how can I check?
You need to review the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Ponders End and other areas of the country and poses no real issues for owners other than when they sell they have to account for both freehold and leasehold interests when dealing with lenders. You can also check the situation with the conveyancing solicitor who conducted the purchase.
Yesterday I discovered that there is a flying freehold issue on a house I have offered on two weeks back in what should have been a straight forward, chain free conveyancing. Ponders End is where the house is located. Is there any advice you can impart?
Flying freeholds in Ponders End are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Ponders End you must be sure that your lawyer goes through the deeds diligently. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Ponders End 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 property.
I was told by my bank that their approved conveyancers operate no sale no fee basis for conveyancing in Ponders End. My purchase fell through and now the lawyers have requested search fees! They say the fees are independent!
By offering "no sale no fee" Ponders End conveyancing lawyers are foregoing their fees for any work carried out. We should make it clear that this does not constitute an insurance scheme. you will still be expected to pay for any disbursements that your lawyer has outlayed for you such as Ponders End local authority checks