I am in the throes of changing my current residential home loan to a Buy to Let Godiva Mortgages Ltd mortgage. I was told by my financial advisor that I require a solicitor for this. I spoke to my past Griffithstown conveyancing practitioner who acted on my behalf when I originally purchased the property. The costs illustration issued of £550 is an eye-watering amount to do this as its a refinance than a sale or purchase.
The estimate does seem a tad steep. If you you were to look around you could get the conveyancing a bit cheaper by as much as £125. That being said, if you were satisfied with the conveyancing the firm gave you maycome to rue choosing an an unknown solicitor. If is important to enquire the solicitor can also act for Godiva Mortgages Ltd. You can utilise our search tool to locate a Griffithstown conveyancing firm on the Godiva Mortgages Ltd conveyancing panel, which can often include conveyancing solicitors in Griffithstown.
It is 10 years ago since I acquired my house in Griffithstown. Conveyancing lawyers have recently been retained on the sale but I can't find the title deeds. Is this a major issue?
Don’t worry too much. Firstly the deeds may be with the lender or they could be in the possession of the solicitor who oversaw your purchase. Secondly the likelihood is that the title will be registered at the land registry and you will be able to prove you are the registered owner by your conveyancing solicitors acquiring current official copies of the land registers. Almost all conveyancing in Griffithstown relates to registered property but in the rare situation where your property is unregistered it adds to the complexity but is not insurmountable.
I am the single recipient of my late grandmother’s will and I have everything in my name now, including the house in Griffithstown. The Griffithstown property was put into my name in August. I now wish to sell up. I do know about the CML six month 'rule', which means that my property ownership may be considered the same way as if I'd bought the property in August. Do I have to wait half a year to sell?
The Council of Mortgage Lenders’ handbook requires solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you may be caught by that. How practical a view mortgage companies take of it, depend on the lender as this clause is chiefly there to pick up on subsales or the quick reselling of property.
Can you point me to a directory of TSB panel conveyancers in Griffithstown on the UK Finance Lenders’ Handbook Website?
Unfortunately not yet. There is no such tool on the CML or Building Society Association sites. Very few banks make their panel listings available online. If you are seeking to appoint a Griffithstown lawyer on the TSB please make the most of our tool.
The mortgage over my property is with Virgin Money for my property in Griffithstown. Conveyancing was finalised 12 months ago. In the event that I decide 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 Virgin Money?
Your original mortgage agreement with Virgin Money will provide that you need their approval before letting out your property as this is likely to be a breach of Virgin Money’s mortgage conditions. It may be that Virgin Money 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 Virgin Money directly. It should not be necessary to do this via a Virgin Money conveyancing panel firm.
What can a local search tell me regarding the house I am buying in Griffithstown?
Griffithstown conveyancing often starts with the applying for local authority searches directly from your local Authority or via a personal search company for instance Xpress Legal The local search plays a central role in many a Griffithstown conveyancing purchase; as long as you wish to avoid any nasty once you have moved into your property. The search should supply data on, amongst other things, details on planning applications applicable to the property (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of 13 topic sections.
Am I better off to choose a Griffithstown conveyancing lawyer who is local to the property I am hoping to buy? An old friend can execute the legal work but her office is 400kilometers drive away.
The primary upside of using a high street Griffithstown conveyancing practice is that you can pop in to execute paperwork, deliver your identification documents and pester them if necessary. They will also have local intelligence which is a benefit. However nothing is more important than finding someone that will do a good and efficient job. If if people you trust used your friend and on the whole were impressed that must trump using an unfamiliar Griffithstown conveyancing solicitor solely due to them being based in the area.
When it comes to leasehold conveyancing in Griffithstown what are the most frequent lease defects?
Leasehold conveyancing in Griffithstown is not unique. Most leases are individual and drafting errors can result in certain clauses are missing. For example, if your lease is missing any of the following, it could be defective:
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Service charge per centages that don't add up correctly leaving a shortfall Insurance obligations
A defective lease can cause issues when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. HSBC Bank, Barnsley Building Society, and Alliance & Leicester all have very detailed requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to grant the mortgage, forcing the purchaser to withdraw.
I own a 1st floor flat in Griffithstown, conveyancing was carried out January 2005. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Comparable flats in Griffithstown with over 90 years remaining are worth £260,000. The ground rent is £45 invoiced annually. The lease ends on 21st October 2099
With 74 years left to run we estimate the premium for your lease extension to range between £8,600 and £9,800 as well as legals.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to supply a more accurate figure in the absence of detailed due diligence. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Please do not move forward based on this information before getting professional advice.