I'm in the process of transferring my domestic loan to a BTL The Royal Bank of Scotland mortgage. I was told by my financial advisor that I must appoint a lawyer for this. I got in contact with my previous Prestwich conveyancing solicitor who acted on my behalf when I initially bought the house. The costs estimate provided of just over five hundred pounds has taken me by surprise as I am not require purchase conveyancing - it’s just a straightforward remortgage.
The estimate does seem a little steep. If you shop around you could reduce the fees slightly by perhaps £125. That being said, assuming were pleased with the assistance the firm provided you maylive to regret choosing an an untested solicitor. Don't forget to enquire the solicitor can represent The Royal Bank of Scotland. Do utilise our search tool to locate a Prestwich conveyancing firm on the The Royal Bank of Scotland approved list of lawyers, which can often include conveyancing solicitors in Prestwich.
The Prestwich conveyancing firm handling our Prestwich conveyancing has discovered an inconsistency when comparing the surveyor’s assumptions in the home valuation report and what is revealed within the title deeds. My solicitor informs me that he must check that the bank is happy with this discrepancy and is still content to lend. Is my lawyer’s stance right?
Your property lawyer must comply with the UK Finance Lenders’ Handbook specifications which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for both parties.
Should our conveyancer be asking questions about flooding during the conveyancing in Prestwich.
Flooding is a growing risk for solicitors dealing with homes in Prestwich. There are those who acquire a house in Prestwich, fully expectant that at some time, it may be flooded. However, aside from the physical damage, where a property is at risk of flooding, it may be difficult to get a mortgage, satisfactory insurance cover, or dispose of the premises. There are steps that can be taken during the course of a house purchase to forewarn the purchaser.
Solicitors are not best placed to offer advice on flood risk, but there are a number of searches that may be undertaken by the buyer or by their lawyers which should figure out the risks in Prestwich. The standard information supplied to a buyer’s lawyer (where the Conveyancing Protocol is adopted) contains a standard inquiry of the owner to discover if the premises has ever been flooded. In the event that flooding has previously occurred and is not disclosed by the seller, then a purchaser may issue a legal claim for losses as a result of such an misleading answer. The purchaser’s lawyers will also order an enviro report. This will disclose whether there is a recorded flood risk. If so, further investigations will need to be initiated.
Despite weeks of looking the Title Certificate and documents to my house can not be found. The solicitors who did the conveyancing in Prestwich 10 years ago are no longer around. What are my options?
You no longer need to have the physical original deeds to evidence that you are the owner of your registered land or premises, as the Land Registry hold details of all registered land or property electronically.
I decided to have a survey completed on a property in Prestwich in advance of appointing lawyers. I have been told that there is a flying freehold element to the house. Our surveyor advised that some mortgage companies will refuse to give a mortgage on such a property.
It depends who your proposed lender is. Lloyds has different instructions for example to Halifax. Should you wish to telephone us we can check with the appropriate mortgage company. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Prestwich. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Prestwich to see if the conveyancing will be more expensive.
I’m about to sell my basement flat in Prestwich. Conveyancing lawyers have not yet been instructed, but I have just had a yearly maintenance charge invoice – Do I pay up?
It best that you pay the service charge as you normally would as all rents and maintenance invoices should be apportioned on completion, so you will be reimbursed by the purchaser for the period running from after the completion date to the subsequent invoice date. Most managing agents will not acknowledge the buyer until the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.
I acquired a basement flat in Prestwich, conveyancing formalities finalised 10 years ago. Can you give me give me an indication of the likely cost of a lease extension? Similar flats in Prestwich with an extended lease are worth £191,000. The average or mid-range amount of ground rent is £55 yearly. The lease ends on 21st October 2078
With only 53 years left to run we estimate the price of your lease extension to span between £27,600 and £31,800 plus professional fees.
The figure above a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of comprehensive investigations. Do not use this information in a Notice of Claim or as an informal offer. There may be other issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. You should not move forward based on this information before seeking the advice of a professional.