I'm in the process of transferring my existing standard loan to a Buy to Let National Westminster Bank mortgage. I have been informed by my broker that I need a conveyancer for this. I spoke to my former Cann Hall conveyancing practitioner who who conducted the conveyancing when I originally bought the house. The fee calculation e-mailed to me of £500 is an eye-watering amount to do this as I am not require purchase conveyancing - it’s simply a bog-standard refinance.
The charges seem a little high. If you are content to expend time comparing prices you may be able to get the conveyancing a bit cheaper by say a hundred pounds. On the other hand, providing that you were content with the conveyancing the firm provided you mightlive to regret opting for an an unknown lawyer. If is important to ensure the solicitor can act for National Westminster Bank. Do employ our search tool to get a quote a Cann Hall conveyancing firm on the National Westminster Bank approved list of lawyers, which can often include conveyancing solicitors in Cann Hall.
Some advice if I may. My Cann Hall lawyer is assuring me that he has toorder Cann Hall conveyancing searches becausethe firm are on the Virgin Moneysolicitor panel. Is my conveyancer correct?
Unfortunately both you and your lawyer have little choice here. Given that you are taking out a loan with a bank your conveyancing practitioner has to comply with their conditions as set out in their version of the CML Conveyancing Handbook. Your solicitor would have previously signed the Terms and Conditions of your bank’s conveyancing panel appointment which obliges them to follow the Council of Mortgage Lenders’ Handbook provisions . Even if you were a cash buyer you would be ill advised not to carry out Cann Hall conveyancing searches.
I purchased a freehold property in Cann Hall but nevertheless pay rent, why is this and what is this?
It’s unusual for properties in Cann Hall and has limited impact for conveyancing in Cann Hall but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges date back many centuries, but the Rent Charge Act 1977 barred the generation of fresh rentcharges from 1977 onwards.
Old rentcharges can now be redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence in 2037 is to be extinguished.
My Conveyancer in Cann Hall is not listed on the Barnsley Building Society Solicitor Panel. Can I still continue with my family solicitor even though they are not on the Barnsley Building Society panel?
Your options are as follows:
- Carry on with your preferred Cann Hall solicitors but Barnsley Building Society will need to instruct a lawyer on their list of acceptable firms. This will result in additional total legal fees as well as cause delays.
- Get an alternative lawyer to to deal with the conveyancing, not forgetting to check they are Persuade your lawyer to do everything within their powers to join the Barnsley Building Society conveyancing panel
Due to the encouragement of my in-laws I had a survey completed on a house in Cann Hall before instructing conveyancers. I have been advised that there is a flying freehold element to the property. Our surveyor advised that some mortgage companies may refuse to grant a loan on this type of property.
It depends who your proposed lender is. Bank of Scotland has different instructions from Birmingham Midshires. Should you wish to call us we can check via the relevant bank. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Cann Hall. Conveyancing will be smoother if you use a solicitor in Cann Hall especially if they regularly deal with such properties in Cann Hall.
My boyfriend is buying a studio flat in Cann Hall. He has received a fee estimate by the lawyer connected to the estate agents and it came to £1245 . It was 7 years ago since I sold and bought a house and the fee was £450. Have fees really gone up that much?
You should visit 3 or 4 local Cann Hall conveyancing solicitors seeking estimates. It is advisable to base your selection not just on cost, but on promptness and on how comprehensive the reply was.