IfI were to acquire a simple residential propertyin Castle Vale mortgage fee and have no survey and no conveyancing searches how much could I expect to have to pay for conveyancing in Castle Vale?
The sole reduction in fees you would achieve is the Castle Vale conveyancing searches. Your solicitor is required to do the vast majority of work - money laundering, correspond with the sellers lawyer, SDLT submission, register the ownership etc. You might save a bit for them not having to register a mortgage but it won't be a lot.
My wife and I are buying a property in Castle Vale. It might be a silly question but how we can trust a solicitor? At some point we will need to send money into their account. What protection do we have from them run away with our deposit?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
When it comes to lenders such as Leeds Building Society, do Castle Vale lawyers incur a fee to be on the conveyancing panel?
We are unaware of any lender fees to be on their panel, although some do levy an administration charge to deal with the processing of the conveyancing panel submission.
The mortgage over my property is with RBS for my property in Castle Vale. Conveyancing was finalised 12 months ago. If I am intending 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 RBS?
RBS must be informed of your intention in advance of letting out your property as this is likely to be a breach of RBS’s mortgage conditions. It may be that RBS will allow you to rent 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 RBS directly. It should not be necessary to do this via a RBS conveyancing panel lawyer.
The estate agent has sent us the confirmation of our purchase of a new build flat in Castle Vale. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build legal work.
Set out below is a sample of a few leasehold new build questions that you may expect your new-build leasehold conveyancing in Castle Vale
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Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease.
Due to the input of my in-laws I had a survey completed on a property in Castle Vale in advance of instructing solicitors. I have been advised that there is a flying freehold element to the house. Our surveyor advised that some lenders will refuse to issue a mortgage on this type of house.
It depends who your proposed lender is. Bank of Scotland has different requirements from Birmingham Midshires. Should you wish to call us we can investigate further via the relevant mortgage company. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Castle Vale. Conveyancing may be slightly more expensive based on your lender's requirements.
Should I instruct a Castle Vale conveyancing practitioner in close proximity to the house I am hoping to buy? We have a good friend who can handle the legal formalities however her office is 400miles drive away.
The benefit of a local Castle Vale conveyancing practice is that you can visit the firm to execute documents, deliver your identification documents and apply pressure on them if necessary. They will also have local knowledge which is a plus. However nothing is more important than finding someone that will pull out all the stops for you. If if people you trust instructed your friend and the majority were impressed that must surpass using an unknown Castle Vale conveyancing lawyer just because they are round the corner.
Being a leasehold owner I am on the hook for a maintenance fee for my ground floor flat in Castle Vale. As a result of poor financial planning I slipped behind with remittance. The managing agents agreed a clearance plan but there is still a couple of left in arrears.
I now wish to sell and I am concerned this could hold me back if I have to pay off the amount due first. Do I have to settle before - is this achievable?
Do speak with the conveyancer handling your Castle Vale conveyancing but one option might be to arrange for the arrears to be transferred to the buyers. The sale price due would be reduced to reflect the amount of debt they take on. They could then discharge the arrears once they are the owners.