I have just started taking steps with a view to changing my current residential mortgage to a Buy to Let Platform Home Loans Ltd mortgage. I was told by my financial advisor that I must appoint a lawyer for this. I got in contact with my past Scarborough conveyancing firm who dealt with the legals when I first purchased the house. The costs illustration e-mailed to me of £470 has surprised me as I am not require purchase conveyancing - it’s simply a bog-standard refinance.
The estimate does seem a tad on the high side. If you are content to spend time contrasting charges you could trim some of the cost by perhaps £125. That being said, if you were content with the conveyancing the firm gave you couldcome to regret opting for an an untested conveyancer. Remember to ensure the solicitor can also act for Platform Home Loans Ltd. You can utilise our search tool to find a Scarborough conveyancing firm on the Platform Home Loans Ltd approved list of lawyers, which can often include conveyancing solicitors in Scarborough.
I am getting closer to an exchange on a property in Scarborough and my mum and dad have transferred the ten percent deposit to my conveyancer. I am now advised that as the deposit has been sent from someone other than me my conveyancer needs to disclose this to my mortgage company. Apparently, in also acting for the lender he must inform them that the balance of the purchase price is coming from anyone other than me. I disclosed to the mortgage company regarding my parents' contribution when I applied for the home loan, so is it really appropriate for him to raise this?
Your conveyancer is legally required to clarify with mortgage company to make sure that they are aware that the balance of the purchase price is not from your own funds. The solicitor can only notify this to your lender if you agree, failing which, your lawyer must cease to continue acting.
I have 70 years unexpired on my lease and need a lease extension for my apartment in Scarborough. Conveyancing solicitors on the Bank of Ireland panel can deal with such extensions correct?
Most leasehold conveyancing experts should be able to deal with a lease extension. if you are obtaining a mortgage then your lender may insist that the lease be extended before competition. Bank of Ireland have specific requirements as set out in the UK Finance Lenders’ Handbook in relation to minimum unexpired lease terms. As of 23/2/2024 the requirements read as follows :
The deeds to our home are lost. The solicitors who conducted the conveyancing in Scarborough 4 years ago have long since closed. What do I do?
You no longer need to hold title original deeds to evidence that you are the owner of your registered land or property, given that the Land Registry have everything they need in a digital format.
If all goes to plan we aim to complete the disposal of our £275,000 apartment in Scarborough next week. The management company has quoted £408 for Landlord’s certificate, insurance certificate and previous years service charge statements. Is it legal for a freeholder to charge such fees for a leasehold conveyance in Scarborough?
Scarborough conveyancing on leasehold maisonettes normally requires the purchaser’s conveyancer sending enquiries for the landlord to answer. Although the landlord is not legally bound to address these enquiries the majority will be content to do so. They are entitled to invoice a reasonable administration fee for answering questions or supplying documentation. There is no set fee. The average fee for the information that you are referring to is over three hundred pounds, in some situations it exceeds £800. The administration charge levied by the landlord must be sent together with a summary of entitlements and obligations in respect of administration fees, without which the invoice is technically not due. Reality however dictates that one has no choice but to pay whatever is demanded should you wish to sell the property.
I bought a 2 bed flat in Scarborough, conveyancing was carried out 6 years ago. How much will my lease extension cost? Corresponding properties in Scarborough with over 90 years remaining are worth £265,000. The ground rent is £50 yearly. The lease comes to an end on 21st October 2100
With just 76 years left to run we estimate the premium for your lease extension to be between £8,600 and £9,800 plus costs.
The figure that we have given is a general guide to costs for renewing a lease, but we are not able to advice on the actual costs without more detailed investigations. Do not use this information in tribunal or court proceedings. There may be additional concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information without first getting professional advice.
After what seems like an age I have had an offer on an apartment in Scarborough accepted, but there is a chain. The sellers have offered on a property, although it’s not yet tied up, and has viewings of other properties booked. I have chosen a local conveyancing solicitor in Scarborough. What should be my next step? At what point do I apply for the mortgage with Kent Reliance?
It is understandable to have anxieties where there is an associated chain as you are unlikely to want to be too out of pocket too early (home loan application is in the region of one thousand pounds, then survey, Scarborough conveyancing search costs, etc). The first course of action is to check that your solicitor is on the Kent Reliance approved list. Concerning the next stages this very much dictated by the circumstances of your case, desire for the property and on the state of the market. During a buoyant market some buyers would apply for a home loan with Kent Reliance and arrange for the survey and only if it was satisfactory would they pay their lawyer to proceed with searches.