We chose a Ampthill based firm for my conveyancing in Ampthill today. Upon checking the terms of engagement I notewe are on the hook for fees even if the dealdoes not go ahead. Would I be best advised to choose a web based solicitor practice advertising no-sale-no-fee conveyancing in Ampthill?
It is usually ‘give and take’ in that if "No Completion No Fee" is available then the fee levels will tend to be be more expensive to neutralise the conveyances that abort. Dont forget that these schemes tend not to protect you from expenditure e.g. Ampthill conveyancing search expenses.
I am the single beneficiary of my late mum's estate with all property in now in my sole name, including the my former home in Ampthill. Conveyancing formalities meant that the Land Registry date was in June. I want to move. I understand that there is a CML six month 'rule', which means that my proprietorship will be treated the same way as if I'd bought the property in June. Will no one buy the property for half a year?
The Council of Mortgage Lenders’ handbook requires conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you could be caught by that. Some lenders would take a practical view as this clause is primarily there to capture the purchase and immediately sell or the wholesaling and assigning of property.
Are all Ampthill Conveyancing Quality Solicitors on the HSBC conveyancing list of approved practices?
It is true that some lenders now make use of CQS as the starting point for Panel approval such as HSBC and Santander. The Law Society’s CQS accreditation however gives no guarantee to lender panel acceptance. Nevertheless,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for solicitors wishing to remain on their approved list of conveyancing solicitors.
The mortgage over my property is with Santander for my property in Ampthill. Conveyancing was finalised months ago. In the event that I decide to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Santander?
Your original mortgage agreement with Santander will provide that you need their approval prior to renting your property as this is likely to be a breach of Santander’s mortgage conditions. It may be that Santander will permit you to let out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Santander directly. You need not do this via a Santander conveyancing panel solicitor.
How does conveyancing in Ampthill differ for new build properties?
Most buyers of new build residence in Ampthill come to us having been asked by the seller to exchange contracts and commit to the purchase even before the premises is finished. This is because house builders in Ampthill usually buy the real estate, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Ampthill or who has acted in the same development.
I have been on the look out for a flat up to £305k and found one near me in Ampthill I like with a park and transport links nearby, however it's only got 49 years unexpired on the lease. I can't really find anything else in Ampthill for this price, so just wondered if I would be making a grave error acquiring a lease with such few years left?
If you need a mortgage that many years may be an issue. Discount the offer by the expected lease extension will cost if not already taken into account. If the current proprietor has owned the premises for at least 2 years you could ask them to start the process of the extension and then assign it to you. You can add 90 years to the existing lease with a zero ground rent applied. You should speak to your conveyancing solicitor about this.
I need to retain a conveyancing solicitor for residential conveyancing in Ampthill. I happened to stumble across a web site which looks to be the ideal solution If there is a chance to get all this stuff done via web that would be preferable. Do I need to be concerned? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
Midway through the sale of a leasehold flat in Ampthill. Conveyancing is fine but we have been asked to pay an extortionate amount by the managing agents. To date we have issued a cheque for £237 for a leasehold management pack and then a further £117.20 for supplemental queries supplied by the buyers property lawyer.
You will not have control over the extent of the fee for this information but the typical costs for the information for Ampthill leasehold premises is £360. For Ampthill conveyancing deals it is standard for the vendor to cover the costs. The freeholder or their agents are not duty bound to address these questions although many will be content to do so - albeit often at high prices disproportionate to the work involved. Unfortunately there is no statute that mandates fixed charges for administrative tasks. There is no legal time frame by which they are obliged to supply answers.