I'm in the process of transferring my existing standard loan to a BTL Birmingham Midshires mortgage. The bank has said that I need a lawyer for this. I spoke to the same Enfield conveyancing firm who acted on my behalf when I first acquired the premises. The fee calculation issued of £550 has shocked me as I am not require purchase conveyancing - it’s simply a bog-standard refinance.
The costs illustration is slightly on the expensive side. If you are prepared to expend time scrutinising quotes you may be able to trim some of the cost by as much as £100 plus VAT. That being said, assuming were happy with the legal work the firm gave you mightlive to regret choosing an a cheaper conveyancer. Don't forget to ensure that the conveyancer can also act for Birmingham Midshires. Do use our search tool to select a Enfield conveyancing firm on the Birmingham Midshires approved list of lawyers, which can often include conveyancing solicitors in Enfield.
I am considering applying for a Bank of Ireland mortgage for purchase of a newly converted (under development) in Enfield with 70% LTV. Is it compulsory to choose a solicitor on the conveyancing panel for Bank of Ireland ?
In theory, you could use a solicitor that is not on the Bank of Ireland conveyancing panel, but Bank of Ireland would require one of their panel solicitors to be instructed to act in their interests, and you'd have to pay for this - so most people instruct a panel solicitor. It's also easier, as otherwise you'd have to deal with two solicitors for the same conveyancing matter.
It has been 3 months since my purchase conveyancing in Enfield took place. I have checked the Land Registry site which shows that I paid £200,000 when infact I paid £160,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the residence from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
The estate agent has sent us the confirmation of our purchase of a new build apartment in Enfield. Conveyancing is necessary evil 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 conveyancing.
Set out below are examples of a selection of leasehold new build questions that you can expect your new-build leasehold conveyancing in Enfield
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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. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? Forfeiture - bankruptcy or liquidation must not apply under this provision. Please supply a car parking plan. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier?
Over the last few months I have been searching for a leasehold apartment up to £245,000 and found one round the corner in Enfield I like with amenity areas and railway links nearby, the downside is that it only has 61 remaining years left on the lease. I can't really find anything else in Enfield for this price, so just wondered if I would be making a mistake purchasing a lease with such few years left?
Should you require a home loan that many years will be a potential deal breaker. Discount the offer by the anticipated lease extension will cost if not already taken into account. If the existing owner has owned the premises for at least twenty four months you can ask them to commence the lease extension formalities and pass it to you. You can add 90 years to the existing lease term and have £0 ground rent by law. You should speak to your conveyancing lawyer regarding this.
In what way can the Landlord & Tenant Act 1954 impact my business offices in Enfield and how can your lawyers assist?
The particular law that you refer to gives protection to business lessees, giving them the right to apply to court for a continuation of occupancy at the end of the lease term. There are certain specified grounds that a landlord can refuse a lease renewal and the rules are complex. We are happy to direct you to commercial conveyancing solicitors who use the act to your advantage and assist with commercial conveyancing in Enfield