I have just started taking steps with the aim of transferring my current homeowner home loan to a Buy to Let Virgin Money mortgage. I have been informed by my broker that I must appoint a solicitor for this. I spoke to my previous Abergavenny conveyancing solicitor who acted on my behalf when I originally bought the house. The quote they've given of £550 has taken me by surprise as its a remortgage than a sale or purchase.
The estimate does seem a tad steep. Where you are happy to expend time contrasting prices you might get the conveyancing a bit cheaper by as much as £100 plus VAT. That being said, assuming were pleased with the conveyancing the firm offered you mightlive to regret choosing an an unknown lawyer. Don't forget to check that the conveyancer can represent Virgin Money. You can employ our search tool to get a quote a Abergavenny conveyancing firm on the Virgin Money conveyancing panel, which can often include conveyancing solicitors in Abergavenny.
I am considering applying for a Nottingham mortgage for purchase of a new build (under development) in Abergavenny with 70% loan to value. Is it compulsory to choose a solicitor on the conveyancing panel for Nottingham ?
In theory, you could use a solicitor that is not on the Nottingham conveyancing panel, but Nottingham 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.
Should our lawyer be raising enquiries regarding flooding as part of the conveyancing in Abergavenny.
The risk of flooding is if increasing concern for lawyers specialising in conveyancing in Abergavenny. There are those who acquire a property in Abergavenny, fully expectant that at some time, it may be flooded. However, leaving to one side the physical damage, if a property is at risk of flooding, it may be difficult to get a mortgage, satisfactory insurance cover, or dispose of the premises. Steps can be carried out during the course of a house purchase to forewarn the purchaser.
Conveyancers are not best placed to give advice on flood risk, however there are a number of checks that can be undertaken by the buyer or by their conveyancers which can give them a better appreciation of the risks in Abergavenny. The standard property information forms given to a buyer’s lawyer (where the Conveyancing Protocol is adopted) incorporates a standard inquiry of the vendor to determine whether the premises has historically flooded. In the event that flooding has previously occurred which is not disclosed by the seller, then a buyer could bring a claim for damages as a result of such an inaccurate reply. A buyer’s conveyancers may also order an environmental search. This will reveal if there is a recorded flood risk. If so, more detailed investigations will need to be initiated.
Due to the encouragement of my in-laws I had a survey completed on a property in Abergavenny prior to appointing lawyers. I have been informed that there is a flying freehold overhang to the property. My surveyor has said that some lenders tend refuse to grant a mortgage on a flying freehold premises.
It varies from the lender to lender. Santander has different requirements from Nationwide. Should you wish to call us we can check with the relevant bank. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Abergavenny. Conveyancing may be slightly more expensive based on your lender's requirements.
I only have 68 years left on my flat in Abergavenny. I now wish to extend my lease but my landlord is can not be found. What options are available to me?
If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for for permission to dispense with the service of the initial notice. This will mean that your lease can be extended by the magistrate. However, you will be required to demonstrate that you have made all reasonable attempts to find the freeholder. In some cases a specialist would be useful to try and locate and to produce an expert document to be used as proof that the freeholder can not be located. It is wise to seek advice from a conveyancer in relation to investigating the landlord’s disappearance and the application to the County Court overseeing Abergavenny.
I bought a split level flat in Abergavenny, conveyancing formalities finalised half a dozen years ago. How much will my lease extension cost? Similar flats in Abergavenny with over 90 years remaining are worth £180,000. The ground rent is £65 charged once a year. The lease finishes on 21st October 2085
With just 59 years left to run we estimate the premium for your lease extension to be between £20,900 and £24,200 plus costs.
The suggested premium range above a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of comprehensive investigations. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information before seeking the advice of a professional.
I note that you have a search directory identifying law firms on the mortgage company conveyancing panel. Do Abergavenny conveyancing firms pay you a commission if I appoint them for my own conveyancing?
We are a listing service only for law firms wishing to communicate if they are on the lender conveyancing panel or other lender panels. We do not charge referral fees to the any conveyancer that you subsequently appoint for your conveyancing in Abergavenny.