I have just started taking steps with a view to transferring my current homeowner home loan to a BTL The Royal Bank of Scotland mortgage. I was told by my mortgage that I must appoint a solicitor for this. I got in contact with my past Ceredigion conveyancing practitioner who dealt with the legals when I originally bought the premises. The costs illustration issued of £575 plus disbursements is an eye-watering amount to do this as its a remortgage than a sale or purchase.
The quote is slightly on the steep side. Where you are willing to spend time contrasting costs you could shave off some of the cost by perhaps a hundred pounds. On the other hand, assuming were happy with the assistance the firm offered you maycome to rue choosing an an unknown solicitor. Remember to enquire that the conveyancer can represent The Royal Bank of Scotland. Do make use of our search tool to find a Ceredigion conveyancing firm on the The Royal Bank of Scotland conveyancing panel, which can often include conveyancing solicitors in Ceredigion.
We had chosen conveyancers with offices in Ceredigion on the Coventry BS solicitor approved list. They are now charging me a supplemental amount for the legal aspects of the Coventry BS mortgage. Is this an additional conveyancing fee specified by Coventry BS?
Provided it is contained in their Terms of Engagement or Quote then yes your property lawyer is entitled to charge a fee for this. This fee is not set by Coventry BS but by your Ceredigion property lawyer. Plenty of firms on the Coventry BS panel will charge an ‘acting for lender’ fee but some practices incorporate it on their overall fee.
My partner and I have organised the release of further monies on our mortgage from Virgin Money as we intend to conduct a loft conversion to our home in Ceredigion. Are we obliged to choose a bricks and mortar Ceredigion solicitor on the Virgin Money conveyancing panel to handle the legals?
Virgin Money do not ordinarily appoint a member of their approved list of lawyers to deal with such a matter. If they do require any legal work then you would need to ensure that such a lawyer was on the Virgin Money conveyancing panel.
Intending to buy a maisonette in Ceredigion. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Leeds Building Society conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Ceredigion conveyancing practitioner is on the Leeds Building Society conveyancing panel.
Are there restrictive covenants that are commonly identified as part of conveyancing in Ceredigion?
Restrictive covenants can be picked up when reviewing land registry title as part of the legal transfer of property in Ceredigion. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
Just had an offer accepted on a new build flat in Ceredigion. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build legal work.
Set out below are examples of a few leasehold new build questions that you can expect your new-build leasehold conveyancing in Ceredigion
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Please supply evidence that the form of Lease proposed has been approved by the Land Registry. If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. Please confirm the Lease plans are surveyor prepared. The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. 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.
Yesterday I discovered that there is a flying freehold element on a house I have offered on a fortnight ago in what was supposed to be a straight forward, no chain conveyancing. Ceredigion is the location of the property. Can you shed any light on this issue?
Flying freeholds in Ceredigion are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Ceredigion you must be sure that your lawyer goes through the deeds diligently. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Ceredigion may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
I'm refinancing my existing home to a buy to let mortgage with Birmingham Midshires and intend to use the remaining equity towards further house. The neighborhood we are looking at is Ceredigion. Will your lawyers be able to act for both sets of banks and link together the two deals?
Do use our comparison tool on this site to be sure that the solicitors are approved by both mortgage companies. Having checked that they are your lawyer will be able to connect the two conveyancing matters but you should have a chat with you lawyer and make apparent your expectations and requirements.