Just been in touch with my conveyancing solicitor in Bermondsey who conducted the legals 18 months ago requesting a conveyancing costs illustration based on an identical type of home move (a leasehold premises and a freehold premises) of similar values with a mortgage from Bank of Scotland. I am now being quoted double. Am I right to be tempted to shop around for a cheaper online firm of conveyancing solicitor?
The estimate does seem a tad overpriced. Where you are willing to invest time comparing costs you could shave off some of the expense by as much as £125. That being said, if you were content with the conveyancing the firm offered you couldcome to rue choosing an a cheaper lawyer. Don't forget to check the conveyancer can also act for Bank of Scotland. You can use our search tool to locate a Bermondsey conveyancing firm on the Bank of Scotland approved list of lawyers, which can often include conveyancing solicitors in Bermondsey.
My fiance and I intend to remortgage our apartment in Bermondsey with Co-operative. We have a son approaching twenty who lives at home. Our solicitor has asked us to disclose any adults other than ourselves who lives in the flat. Our lawyer has now e-mailed a document for our son to sign, giving up any rights in the event that the flat is forfeited by the lender. I have a couple of questions (1) Is this document specific to the Co-operative conveyancing panel as he never had to sign this form when we purchased 3 years ago (2) Does our son by signing this compromise his entitlement to inherit the property?
On the face of it your lawyer has done nothing wrong as it is established procedure for any occupier who is aged 17 or over to sign the necessary Consent Form, which is purely to state that any rights he has in the property are postponed and secondary to Co-operative. This is solely used to protect Co-operative if the property were re-possessed so that in such circumstances, your son would be legally obliged to leave. It does not impact your son’s right to inherit the apartment. Please note that if your son were to inherit and the mortgage in favour of Co-operative had not been discharged, he would be liable to take over the loan or pay it off, but other than that, there is nothing stopping him from keeping the property in accordance with your will or the rules of intestacy.
It is is a decade since I acquired my property in Bermondsey. Conveyancing lawyers have just been retained on the sale but I can't track down the deeds. Is this a problem?
Don’t worry too much. Firstly the deeds may be with your mortgage company or they may be archived with the solicitor who acted in your purchase. Secondly the chances are that the property will be registered at the land registry and you will be able to prove you own the property by your conveyancing lawyers obtaining up to date copy of the land registers. Almost all conveyancing in Bermondsey relates to registered property but in the rare situation where your property is not registered it is more problematic but is not insurmountable.
I am purchasing my first flat in Bermondsey with the aid of help to buy. The sellers would not reduce the price so I negotiated five thousand pounds worth of extras instead. The house builders rep advised me not to tell my lawyer about the side-deal as it may affect my loan with the bank. Do I keep my lawyer in the dark?.
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.
Due to the guidance of my in-laws I had a survey completed on a house in Bermondsey in advance of appointing lawyers. I have been informed that there is a flying freehold aspect to the property. The surveyor advised that some banks will not grant a mortgage on a flying freehold house.
It depends who your proposed lender is. Bank of Scotland has different instructions for example to Birmingham Midshires. If you call us we can investigate further with the appropriate mortgage company. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Bermondsey. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Bermondsey to see if the conveyancing will be more expensive.
In scouring the internet for the term cheap conveyancing in Bermondsey it brings up many solicitorslocally. With so much choice what is the best way to find the suitable conveyancer for the sale of my house?
The preferential method of finding the right conveyancer is via trusted testimonial, so enquire of friends and relatives who have acquired a property in Bermondsey or a respected estate agent or mortgage broker. Charges for conveyancing in Bermondsey differ, so it's a good idea to obtain a minimum of four fee estimates from varying types of solicitors. Make sure that you know that the costs are assured not to escalate.