I am in the throes of switching my current homeowner mortgage to a Buy to Let Nationwide Building Society mortgage. I was told by my mortgage that I require a solicitor as part of the process. I got in contact with my former Eastcote conveyancing practitioner who acted on my behalf when I originally bought the property. The costs illustration provided of £550 is surprising as its a remortgage than a sale or purchase.
The quote is fractionally on the high side. If you shop around you might decrease the fees marginally by perhaps £125. On the other hand, providing that you were pleased with the service the firm gave you maycome to regret opting for an a cheaper conveyancer. Remember to ensure that the firm can also act for Nationwide Building Society. You can employ our search tool to choose a Eastcote conveyancing firm on the Nationwide Building Society approved list of lawyers, which can often include conveyancing solicitors in Eastcote.
We previously appointed solicitors locally in Eastcote on the Aldermore solicitor panel. They have just invoiced me a supplemental sum for the legal aspects of the Aldermore mortgage. Is this an additional conveyancing fee set by Aldermore?
Unfortunately, so long as it is in their Terms of Engagement or Quote then yes your lawyer can charge a fee for this. The fee is not set by Aldermore but by your Eastcote solicitor. Plenty of firms on the Aldermore panel will charge an ‘acting for lender’ fee and others do not.
I currently have a mortgage with Clydesdale for my property in Eastcote. Conveyancing was finalised a year ago. Should I wish 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 Clydesdale?
Clydesdale must be informed of your intention in advance of letting out your property as this is likely to be a breach of Clydesdale’s mortgage conditions. It may be that Clydesdale 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 Clydesdale directly. You need not do this via a Clydesdale conveyancing panel solicitor.
I am due to exchange contracts on my house. I had a double glazing fitted in October 2006, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s lender, Coventry BS are being a right pain. The Eastcote solicitor who is on the Coventry BS conveyancing panel is saying indemnity insurance will be fine but Coventry BS are insisting on a building regulation certificate. Why do Coventry BS have a conveyancing panel if they don't accept advice from them?
It is probably the case that Coventry BS have referred the matter to their valuer. The reason why Coventry BS may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
How does conveyancing in Eastcote differ for newly converted properties?
Most buyers of new build premises in Eastcote contact us having been asked by the seller to sign contracts and commit to the purchase even before the property is ready to move into. This is because new home sellers in Eastcote usually buy the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Eastcote or who has acted in the same development.
I decided to have a survey completed on a house in Eastcote before appointing conveyancers. I have been informed that there is a flying freehold overhang to the property. My surveyor advised that some lenders will refuse to give a mortgage on such a house.
It varies from the lender to lender. Lloyds has different requirements from Birmingham Midshires. If you contact us we can check with the appropriate bank. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Eastcote. Conveyancing will be smoother if you use a solicitor in Eastcote especially if they are acquainted with such properties in Eastcote.
I have been pointed in your direction by a couple of local estate agents in Eastcote to choose a property lawyer using your seach tool. What’s the financial advantage for Estate Agents to promote your services over and above alternative conveyancing organisations?
We don’t offer any financial incentive for sending work to this site. We thought it would be too underhand to pay a commission because members of the public would think, ‘Why is the agent getting a kickback? Why am I not receiving any benefit too?’ So we decided to step away from that.
Why is New Build conveyancing in Eastcote more costly?
Conveyancing in Eastcote for newly converted or new build homes often involve adoption of highways & drains, building regulations approval, planning permission, new build warranties such NHBC as well as additional investigations and contractual concerns.