I am in the throes of porting my current residential home loan to a BTL Aldermore mortgage. The bank has said that I must appoint a conveyancer for this. I had a chat my past Cockfosters conveyancing solicitor who who conducted the conveyancing when I initially purchased the premises. The quote they've given of £450 plus VAT is surprising as I am not require purchase conveyancing - it’s simply a bog-standard refinance.
The estimate does seem a tad overpriced. If you shop around you could reduce the fees slightly by as much as £100 plus VAT. On the other hand, if you were satisfied with the legal work the firm gave you mightlive to rue choosing an an unknown lawyer. Remember to enquire the firm can also act for Aldermore. Do utilise our search tool to locate a Cockfosters conveyancing firm on the Aldermore conveyancing panel, which can often include conveyancing solicitors in Cockfosters.
I am the registered owner of a freehold property in Cockfosters yet charged rent, why is this and what is this?
It’s unusual for properties in Cockfosters and has limited impact for conveyancing in Cockfosters 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 have existed for many centuries, but the Rent Charge Act 1977 barred the generation of fresh rentcharges post 1977.
Old rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence after 2037 is to be dispensed with completely.
My wife and I own a semi-detached Edwardian property in Cockfosters. Conveyancing practitioner acted for me and Leeds Building Society. I did a free Land Registry search last week and I saw a couple of entries: the first freehold, another for leasehold with the exact same address. I thought I was buying a freehold how can I check?
You need to read the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Cockfosters and other areas of the country and poses no real issues for owners other than when they buy they have to account for both freehold and leasehold interests when dealing with purchasers. You can also enquire as to the position with your conveyancing lawyer who conducted the conveyancing.
I'm purchasing my first flat in Cockfosters benefiting from help to buy. The developers refused to budge the price so I negotiated £7000 of fixtures and fittings instead. The sale representative told me not reveal to my solicitor about the side-deal as it could adversely affect my mortgage with the bank. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the developer 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 advice of my in-laws I had a survey completed on a property in Cockfosters before retaining lawyers. I have been informed that there is a flying freehold overhang to the property. Our surveyor advised that some mortgage companies tend refuse to grant a loan on a flying freehold premises.
It depends who your proposed lender is. Santander has different instructions for example to Halifax. If you contact us we can check with the relevant mortgage company. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Cockfosters. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Cockfosters to see if the conveyancing will be more expensive.
My husband and I are first time buyers - had an offer accepted, but the estate agent advised that the vendor will only issue a contract if we appoint their recommended solicitors as they want a ‘quick sale’. My instinct tells me that we should use a local conveyancer used to conveyancing in Cockfosters
We suspect that the owner is not behind this request. If they desire ‘a quick sale', turning down a motivated buyer is not the way to achieve this. Contact the owners directly and make sure they understand (a)you are keen to buy (b)you are ready to go, with finances arranged © you have nothing to sell (d) you wish to move quickly (e)however you are going to use your preferred Cockfosters conveyancing firm - rather thanthe ones that will give the negotiator at the agency a commission or meet his conveyancing targets set by HQ.