I'm in the process of porting my existing standard home loan to a Buy to Let Barclays Direct mortgage. I have been informed by my broker that I require a lawyer as part of the process. I got in contact with my former Rayleigh conveyancing practitioner who who conducted the conveyancing when I previously bought the premises. The costs illustration provided of £470 has taken me by surprise as its a refinance than a sale or purchase.
The quote is slightly on the expensive side. If you you were to look around you could trim some of the cost by as much as a hundred pounds. On the other hand, providing that you were pleased with the service the firm gave you mightlive to rue choosing an a cheaper lawyer. Don't forget to be sure the conveyancer can act for Barclays Direct. You can utilise our search tool to get a quote a Rayleigh conveyancing firm on the Barclays Direct approved list of lawyers, which can often include conveyancing solicitors in Rayleigh.
AssumingI were to acquire a straightforward homein Rayleigh mortgage fee and dispense with a survey and no local authority searches how much would I expect to have to pay for conveyancing in Rayleigh?
The sole saving you would achieve is the disbursement for searches. A lawyer is required to do the vast majority of work - money laundering, correspond with the vendors conveyancer, stamp duty return, register the property etc. A slight saving might be made by not having to register a mortgage however it won't be meaningful.
I am the registered owner of a freehold premises in Rayleigh yet charged rent, why is this and what is this?
It is rare for properties in Rayleigh and has limited impact for conveyancing in Rayleigh but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges date back hundreds of years, but the Rent Charge Act 1977 barred the creation of new rentcharges from 1977 onwards.
Old rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence post 2037 will be extinguished.
I acquired my apartment on 11 October and my personal details is not yet on the land registry website. Need I be worried? My conveyancing solicitor in Rayleigh expressed confidence that it would be recorded inside ten days. Are properties in Rayleigh particularly slow to register?
There is nothing unique about conveyancing in Rayleigh registration formalities. As opposed to being determined by geographic area, timeframes can vary according to the party submitting the application, whether it is in order and whether the Land registry have to notify any interested parties. As of today approximately three quarters of such applications are completed within 12 days but some can be subject to longer hold-ups. Registration occurs after the new owner has moved in to the property thus an expedited registration is not always an essential issue yet where there is a degree of urgency associated with the registration then you or your lawyers can communicate with the Registry to express the reasoning for the application to be prioritised.
I am purchasing a new build house in Rayleigh benefiting from help to buy. The builders would not budge the price so I negotiated £7000 of fixtures and fittings instead. The sale representative told me not to tell my solicitor about this deal as it could adversely affect my mortgage with Santander. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I am looking for a leasehold apartment up to £305k and identified one close by in Rayleigh I like with open areas and transport links in the vicinity, however it only has 61 years on the lease. I can't really find anything else in Rayleigh for this price, so just wondered if I would be making a mistake purchasing a lease with such few years left?
Should you require a mortgage the remaining unexpired lease term may be a potential deal breaker. Discount the price by the anticipated lease extension will cost if it has not already been discounted. If the current owner has owned the property for at least 2 years you can request that they start the process of the extension and then assign it to you. You can add 90 years to the current lease with a zero ground rent applied. You should consult your conveyancing solicitor about this matter.