We previously instructed conveyancers locally in Underwood on the Lloyds solicitor panel. They are now charging me a supplemental fee for dealing with the Lloyds mortgage. Is this an additional conveyancing fee specified by Lloyds?
Unfortunately, so long as it is in their Terms and Conditions or Quote then yes your property lawyer is entitled to charge a fee for this. This fee is not set by Lloyds but by your Underwood solicitor. Plenty of firms on the Lloyds panel will quote ’dealing with mortgage’ fee and others do not.
I have paid off my mortgage with Lloyds. I assume I don't need a Underwood conveyancer on the Lloyds panel to remove the mortgage at the Land Registry. Am I right?
If you have finished paying off your Lloyds mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Lloyds mortgage from the register. Lloyds, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Lloyds has sent the Land Registry the discharge electronically, and
- Lloyds has instructed the Land Registry to do so
Our offer on a house in Underwood has been agreed to, but there is a chain. The vendors have placed an offer on a flat, but it’s not yet agreed to, and are looking at other flats booked. I have chosen a bricks and mortar conveyancing solicitor in Underwood. What do I do now? At what point should I apply for the mortgage with Principality?
It is understandable to have concerns where there is a chain as you are unlikely to want to incur expenses too early (mortgage application is in the region of £1k, then survey, Underwood conveyancing search charges, etc). First, you should check that your conveyancing practitioner is on the Principality approved list. Concerning the next steps this very much dictated by the circumstances of your transaction, motivation for the property and on the state of the market. In a rising market many buyers will apply for the mortgage with Principality and arrange for the valuation and only if it comes back ok would they ask their solicitor to move forward with searches.
It has been four months following my purchase conveyancing in Underwood concluded. I have checked the Land Registry site which shows that I paid £150,000 when infact I paid £160,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the residence from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
The estate agent has sent us the confirmation of our purchase of a new build flat in Underwood. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build legal work.
Here are examples of a few leasehold new build questions that you can expect your new-build leasehold conveyancing in Underwood
-
Forfeiture - bankruptcy or liquidation must not apply under this provision. Please supply a car parking plan. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? There must be mutual enforceability of lessee’s covenants.
Due to the input of my in-laws I had a survey completed on a house in Underwood in advance of appointing lawyers. I have been informed that there is a flying freehold element to the house. My surveyor has said that some banks may refuse to issue a mortgage on this type of property.
It depends who your proposed lender is. Santander has different instructions for example to Nationwide. If you call us we can look into this further via the relevant bank. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Underwood. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Underwood to see if the conveyancing costs will increase in light of this.
In what way can the Landlord & Tenant Act 1954 impact my business premises in Underwood and how can you help?
The 1954 Act provides security of tenure to commercial leaseholders, giving them the right to apply to court for a new lease and remain in occupation at the end of the lease term. There are limited grounds that a landlord can refuse a lease renewal and the rules are involved. We are happy to direct you to commercial conveyancing firms who use the act for protection and handle your commercial conveyancing in Underwood
My husband and I are FTB’s - had an offer accepted, yet the property agent advised that the seller will only issue a contract if we instruct their recommended solicitors as they want a ‘quick sale’. Our preferred option is to instruct a local solicitor accustomed to conveyancing in Underwood
We suspect that the owner is not behind this ultimatum. If they desire ‘a quick sale', taking such a hostile approach to a serious buyer is is going to put the whole deal at risk. Speak to the owners direct and make the point that (a)you are motivated buyers (b)you are ready to progress, with mortgage lined up © you are chain free (d) you wish to move quickly (e)but you are going to appoint your preferred Underwood conveyancing firm - rather thanthe ones that will provide the negotiator at the agency a referral fee or achieve conveyancing thresholds pre-set by corporate headquarters.