I am in the throes of swapping over from my current homeowner loan to a Buy to Let Accord Mortgages Ltd mortgage. I was told by my mortgage that I must appoint a solicitor as part of the process. I got in contact with the same Wendover conveyancing firm who acted on my behalf when I originally purchased the property. The fee calculation issued of £450 plus VAT has taken me by surprise as I am not require purchase conveyancing - it’s just a straightforward remortgage.
The costs illustration is fractionally on the high side. If you shop around you could get the conveyancing a bit cheaper by as much as a hundred pounds. On the other hand, if you were pleased with the legal work the firm provided you maycome to rue opting for an an unknown lawyer. Remember to be sure that the solicitor can represent Accord Mortgages Ltd. You can use our search tool to choose a Wendover conveyancing firm on the Accord Mortgages Ltd approved list of lawyers, which can often include conveyancing solicitors in Wendover.
Is it necessary during the course of the conveyancing process to have a meeting at the offices of the solicitor to sign the mortgage deed? If so, I will choose one who does conveyancing in Wendover so that I can attend their offices if required.
Whereas this was necessary ten years ago, most mortgage companies no longer need their conveyancing panel lawyer to witness the borrowers signature. You will still be obliged to provide ID documents and there are still manifest advantages to instructing a locally based practitioner, in your case a conveyancing solicitor in Wendover.
What does a local search tell me concerning the property we're buying in Wendover?
Wendover conveyancing often starts with the submitting local authority searches directly from your local Authority or via a personal search company such as Onsearch The local search plays an important role in most Wendover conveyancing purchase; as long as you don’t want any nasty surprises after you move into your new home. The search should provide data on, amongst other things, details on planning applications relevant to the premises (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of thirteen topic headings.
Are there restrictive covenants that are commonly picked up as part of conveyancing in Wendover?
Restrictive covenants can be picked up when reviewing land registry title as part of the legal transfer of property in Wendover. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
I've recently found out that there is a flying freehold element on a property I have offered on last month in what was supposed to be a simple, chain free conveyancing. Wendover is where the house is located. Can you offer any guidance?
Flying freeholds in Wendover are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Wendover you would need to get your solicitor to go through the deeds thoroughly. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Wendover may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.
Last December I purchased a leasehold flat in Wendover. Do I have any liability for service charges for periods before completion of my purchase?
Where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I invested in buying a 1st floor flat in Wendover, conveyancing formalities finalised in 1999. Can you work out an approximate cost of a lease extension? Comparable properties in Wendover with a long lease are worth £191,000. The ground rent is £55 invoiced every year. The lease expires on 21st October 2074
You have 53 years remaining on your lease we estimate the price of your lease extension to range between £27,600 and £31,800 as well as plus your own and the landlord's "reasonable" professional fees.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to provide a more accurate figure in the absence of detailed due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There may be additional issues that need to be considered and clearly you should be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information before getting professional advice.