Finally, a loan agreement from NatWest for the refinancing of my 2 bedroom apartment is expected imminently. Can you suggest a low cost conveyancing lawyer in Fawley?
You are on the wrong site if you are in need of a cheap conveyancing solicitors in Fawley. Our aim is to provide affordable conveyancing but we do not advertise as being the cheapest. Resist the temptation to appoint companies offering the bait of low cost conveyancing in Fawley. At best, in being led by cheap conveyancing, you will get your money’s worth and at worst it will result in you invoiced for extras and still not receive the service expected.
Do I have to visit the offices of the solicitor to sign the legal charge? If so, I will choose one who does conveyancing in Fawley so that I can attend their offices when needed.
Most conveyancing panel lawyers for mortgage companies undertake all of the communications via Royal Mail, e-mail or over the phone. This means that they can undertake the conveyancing transaction regardless of where you live in the country. That being said you can see if you can still book an appointment to visit conveyancing lawyer if just in case this is required.
I am being advised by my solicitor that lack of right of way insurance is needed on my purchase. What is the level of cover for Fawley conveyancing?
The appropriate level of lack of right of way indemnity insurance depends on who your lender is. It would differ for example between Birmingham Midshires and Norwich and Peterborough Building Society. Conveyancing solicitors as opposed to borrowers take out such insurances.
The mortgage over my property is with Leeds Building Society for my property in Fawley. Conveyancing has been completed some time 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 BTL mortgage or inform Leeds Building Society?
Your original mortgage agreement with Leeds Building Society will provide that you need their approval in advance of letting out your property as this is likely to be a breach of Leeds Building Society’s mortgage conditions. In many cases banks or building societies will permit you to let 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 Leeds Building Society directly. It should not be necessary to do this via a Leeds Building Society conveyancing panel firm.
I can not fathom if my mortgage offer obliges me to make sure the lease term for the flat is extended prior to the completion date. I have telephoned my Fawley bank branch on numerous occasions and was told they are content with the situation and they would lend. My Fawley conveyancing solicitor - who is on the bank conveyancing panel- called and was told they refuse to lend in accordance with their published requirements. Who do I believe?
Your conveyancing practitioner must follow the CML Handbook section two specifications for your lender. Unless your lawyer obtains specific confirmation in writing that the mortgage company will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the bank to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
I am purchasing my first flat in Fawley benefiting from help to buy. The builders would not budge the price so I negotiated five thousand pounds worth of fixtures and fittings instead. The estate agent told me not to tell my solicitor about this extras as it could affect my mortgage with Platform Home Loans Ltd. Is this normal?.
All lenders require a Disclosure of Incentives Form from the builder 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 house in Fawley in advance of retaining solicitors. I have been told that there is a flying freehold aspect to the house. My surveyor advised that some lenders may not give a mortgage on such a property.
It depends who your proposed lender is. Santander has different requirements from Halifax. If you contact 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 used to dealing with flying freeholds in Fawley. Conveyancing will be smoother if you use a solicitor in Fawley especially if they are acquainted with such properties in Fawley.
Our conveyancer has advised that he intends to complete and exchange simultaneously on the sale of our £350,000 apartment in Fawley on Tuesday in a week. The landlords agents has quoted £360 for Landlord’s certificate, building insurance schedule and previous years service charge statements. Is the landlord entitled to charge exorbitant fees for a leasehold conveyance in Fawley?
Fawley conveyancing on leasehold apartments usually results in administration charges levied by freeholders :
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Completing pre-exchange questions
Where consent is required before sale in Fawley
Copies of the building insurance and schedule
Deeds of covenant upon sale
Registering of the assignment of the change of lessee after a sale
I inherited a 1 bedroom flat in Fawley, conveyancing formalities finalised February 1996. Can you please calculate a probable premium for a statutory lease extension? Similar flats in Fawley with an extended lease are worth £165,000. The average or mid-range amount of ground rent is £50 levied per year. The lease expires on 21st October 2103
With only 78 years left to run the likely cost is going to be between £7,600 and £8,800 plus professional fees.
The figure above a general guide to costs for renewing a lease, but we are not able to provide a more accurate figure without more comprehensive due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There may be other concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Please do not take any other action based on this information without first getting professional advice.