I'm in the process of transferring my existing standard home loan to a BTL Aldermore mortgage. I have been informed by my broker that I need a solicitor for this. I had a chat my past Wimbledon conveyancing firm who acted on my behalf when I previously acquired the property. The quote issued of £575 plus disbursements is surprising as I am not require purchase conveyancing - it’s just a bog-standard refinance.
The estimate fees seem a bit high. If you you were to look around you may be able to get the conveyancing a bit cheaper by as much as £100 plus VAT. On the other hand, if you were happy with the conveyancing the firm provided you maycome to regret choosing an an untested solicitor. Don't forget to ensure the conveyancer can act for Aldermore. Do employ our search tool to select a Wimbledon conveyancing firm on the Aldermore member panel, which can often include conveyancing solicitors in Wimbledon.
Are the Wimbledon conveyancing solicitors identified as being on the Leeds Building Society conveyancing panel, together with their details provided by Leeds Building Society?
Wimbledon conveyancing firms themselves provide us confirmation that they are on the Leeds Building Society conveyancing panel as opposed to being supplied with a list from Leeds Building Society directly.
I am refinancing my property in Wimbledon, does my lawyer need to be on the Co-operative Solicitor panel?
In theory, you could use a solicitor that is not on the Co-operative conveyancing panel, but Co-operative would require one of their panel solicitors to be instructed to act in their interests, and you'd have to pay for this - so most people instruct a panel solicitor. It's also easier, as otherwise you'd have to deal with two solicitors for the same transaction.
Me and my brother have a semi-detached Victorian property in Wimbledon. Conveyancing lawyer represented me and The Royal Bank of Scotland. I happened to do a free search for it on the Land Registry database and I saw a couple of entries: the first freehold, the second leasehold with the matching property. If a house is not a freehold shouldn't I have been informed?
You should assess the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Wimbledon and other areas of the country and poses no real issues for owners other than when they remortgage they have to account for both freehold and leasehold interests when dealing with buyers. You can also enquire as to the position with the conveyancing practitioner who carried out the work.
I'm buying a new build house in Wimbledon benefiting from help to buy. The builders would not budge the price so I negotiated £7000 of extras instead. The sale representative suggested that I not to tell my conveyancer about this side-deal as it may jeopardize my mortgage with the lender. Should I keep quiet?.
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 decided to have a survey completed on a property in Wimbledon before retaining solicitors. I have been informed that there is a flying freehold aspect to the property. Our surveyor has said that some mortgage companies will refuse to give a loan on a flying freehold premises.
It depends who your proposed lender is. Bank of Scotland has different requirements for example to Halifax. Should you wish to call us we can look into this further via the relevant lender. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Wimbledon. Conveyancing will be smoother if you use a solicitor in Wimbledon especially if they regularly deal with such properties in Wimbledon.