I have just started taking steps with the intention of porting my current residential loan to a BTL Godiva Mortgages Ltd mortgage. I have been informed by my broker that I need a conveyancer for this. I got in contact with my past St Mellons conveyancing solicitor who dealt with the legals when I initially bought the property. The costs illustration they've given of £470 has taken me by surprise as its a refinance than a sale or purchase.
The estimate does seem a tad on the high side. If you are happy to invest time contrasting prices you may be able to trim some of the cost by say a hundred pounds. That being said, if you were happy with the assistance the firm gave you mightlive to rue choosing an an untested conveyancer. Remember to ensure the solicitor can also act for Godiva Mortgages Ltd. You can make use of our search tool to select a St Mellons conveyancing firm on the Godiva Mortgages Ltd approved list of lawyers, which can often include conveyancing solicitors in St Mellons.
Me and my partner are purchasing a house in St Mellons. I might seem paranoid but how we can trust a conveyancer? At some point we will need to send money into their account. What protection do we have from them run away with our deposit?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
My uncle advised me that in buying a property in St Mellons there may be a number of restrictions preventing external changes to a property. Is this right?
There are anumerous of properties in St Mellons which have some sort of restriction or requirement of consent to execute external variations. Part of the conveyancing in St Mellons should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
is it true that all St Mellons solicitors on the Nottingham conveyancing panel are regulated by the SRA?
As solicitors, in order to be on the Nottingham conveyancing panel they would need to be governed by the SRA. Some lenders do list licenced conveyancers on their panel in which case such practice would be regulated by the CLC.
I am looking for a ground for flat up to £305k and identified one close by in St Mellons I like with amenity areas and station nearby, the downside is that it only has 52 remaining years left on the lease. There is not much else in St Mellons suitable, so just wondered if I would be making a mistake acquiring a lease with such few years left?
Should you require a home loan the remaining unexpired lease term will be a potential deal breaker. Discount the offer by the expected lease extension will cost if not already taken into account. If the existing proprietor has owned the property for a minimum of twenty four months you can ask them to start the process of the extension and then assign it to you. An additional ninety years can be extended on to the current lease term with a zero ground rent applied. You should speak to your conveyancing solicitor concerning this.
Do I need to be suspicious about brokers that I am dealing with are encouraging me to use a web based conveyancing firm as opposed to a local St Mellons conveyancing firm?
As with many professional services, often referrals from relatives can be most helpful. But there are numerous people with a keen interest in a conveyancing transaction; estate agents, mortgage brokers and mortgage companies might all put forward solicitors to select. On occasion these solicitors might be known to one of the organisations as one of the best in their field, but occasionally there might be a financial incentive behind the endorsement. You are free to choose your own conveyancer. Don't forget that some lenders operate an approved list of lawyers you must use for the mortgage related work in your home move.
I’m about to sell my basement apartment in St Mellons. Conveyancing has not commenced, however I have recently received a half-yearly maintenance charge demand – Do I pay up?
It best that you pay the service charge as usual given that all ground rent and maintenance charges will be apportioned on completion, so you should recover the relevant percentage by the buyer for the period running from after the completion date to the next payment date. Most management companies will not acknowledge the buyer unless 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. This will smooth the conveyancing process.
I invested in buying a ground floor flat in St Mellons, conveyancing formalities finalised 10 years ago. Can you give me give me an indication of the likely cost of a lease extension? Corresponding properties in St Mellons with over 90 years remaining are worth £206,000. The average or mid-range amount of ground rent is £45 charged once a year. The lease ends on 21st October 2092
With only 66 years remaining on your lease we estimate the premium for your lease extension to be between £12,400 and £14,200 plus legals.
The suggested premium range above a general guide to costs for renewing a lease, but we are not able to provide a more accurate figure in the absence of comprehensive due diligence. You should not use this information in a Notice of Claim or as an informal offer. There may be other issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. You should not move forward placing reliance on this information without first getting professional advice.
I am short of a 10% deposit on my apartment purchase in St Mellons , but I am keen proceed. Do I have options?
One option is to try and agree a lesser deposit. Most sellers will agree to a lower deposit or even no deposit for a first time buyer or 100% mortgage. Be aware though that if you fail to complete you will still need to hand over a minimum of 10% of the purchase price regardless of how much deposit was agreed.
You can also agree a simultaneous exchange and completion as no deposit is required for this however neither party will be tied in until completion actually takes place and it can be risky if sellers change their mind at the last second