Recently contacted my conveyancing solicitor in Haggerston who completed the legal work 18 months ago requesting a conveyancing costs illustration based on an identical type of house move (a leasehold property and a freehold property) of similar values with a mortgage from Britannia. I am now being quoted twice the amount. Am I right to be tempted to shop around for an alternative property lawyer?
The costs illustration is slightly on the expensive side. Where you are willing to spend time contrasting costs you might decrease the fees slightly by as much as £125. On the other hand, if you were pleased with the legal work the firm gave you mightcome to regret opting for an an untested solicitor. Remember to be sure the conveyancer can act for Britannia. Do make use of our search tool to find a Haggerston conveyancing firm on the Britannia conveyancing panel, which can often include conveyancing solicitors in Haggerston.
My husband and I are refinancing our flat in Haggerston with Coventry BS. We have a son 19 who lives with us. Our solicitor has asked us to disclose any adults other than ourselves who lives in the flat. Our lawyer has now e-mailed a document for our son to sign, giving up any rights in the event that the property is repossessed. I have two questions (1) Is this form unique to the Coventry BS conveyancing panel as he never had to sign this form when we purchased 5 years ago (2) In signing this form is our son in any way compromising his right to inherit the property?
On the face of it your lawyer has done nothing wrong as it is established procedure for any occupier who is aged 17 or over to sign the necessary Consent Form, which is purely to state that any rights he has in the property are postponed and secondary to Coventry BS. This is solely used to protect Coventry BS if the property were re-possessed so that in such circumstances, your son would be legally obliged to leave. It does not impact your son’s right to inherit the apartment. Please note that if your son were to inherit and the mortgage in favour of Coventry BS had not been discharged, he would be liable to take over the loan or pay it off, but other than that, there is nothing stopping him from keeping the property in accordance with your will or the rules of intestacy.
Can you explain why leasehold purchase conveyancing in Haggerston is more expensive?
In short, leasehold conveyancing in Haggerston and elsewhere usually necessitates extra hours of investigation compared to freehold transactions. This includes analysing the lease terms, communicating with the landlord concerning serving required notices, procuring current service charge and management information, obtaining the freeholder’s consents and reviewing management accounts. The obligations on both the landlord and the tenant in the lease need to be studied by the buyer’s conveyancing team and read from beginning to end – regardless of the fact the lease has passed through many different property solicitors hands since it was first entered into.
Is it correct that all Haggerston CQS (Conveyancing Quality Scheme) solicitors are on the Aldermore conveyancing panel?
It is true that some banks and building societies now make use of CQS as the kick off point for Panel approval such as HSBC and Santander. The Law Society’s CQS membership however gives no guarantee to lender panel acceptance. That being said,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for firms wishing to remain on their approved list of firms.
It is not clear whether my lender obliges me to make sure the lease term for the flat is extended prior to the completion date. I have called into my local Haggerston building society branch on a couple of occasions and was told it wasn't a problem and they will lend. My Haggerston conveyancing solicitor - who is on the bank conveyancing panel- telephoned to say that they refuse to lend based on their published requirements. I have no idea who is right.
Provided that the property lawyer is on the bank approved list, she or he must adhere to the CML Handbook requirements for the 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 mortgage company to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
I have finally had an offer on a flat in Haggerston accepted, but there is a chain. The owners have put an offer on somewhere, however it’s not been accepted yet, and have viewings of other flats in the pipeline. I have instructed a bricks and mortar conveyancing solicitor in Haggerston. What should be my next step? At what stage do I apply for the mortgage with Principality?
It is usual to have anxieties where there is a chain as you are unlikely to want to incur costs prematurely (home loan application is in the region of £1k, then survey, Haggerston conveyancing search charges, etc). First, you must check that your lawyer is on the Principality approved list. As to the next steps this very much dictated by the specifics of your case, desire for the property and on the state of the market. During a buoyant market some purchasers would apply for a home loan with Principality and pay for the valuation and only if it comes back ok would they request their conveyancer to proceed with the conveyancing in Haggerston.
Due to the guidance of my in-laws I had a survey completed on a house in Haggerston before retaining lawyers. I have been informed that there is a flying freehold aspect to the house. My surveyor advised that some banks tend not give a loan on a flying freehold property.
It varies from the lender to lender. Santander has different instructions for example to Halifax. If you e-mail us we can investigate further via the appropriate mortgage company. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Haggerston. Conveyancing will be smoother if you use a solicitor in Haggerston especially if they are accustomed to such properties in Haggerston.
In searching the internet for the term on line conveyancing in Haggerston it brings up numerous property lawyersin the vicinity. How do I determine which is the suitable property lawyer for my move?
The preferential way of finding the right conveyancer is via personal recommendation, so seek the opinion of friends and those you trust who have bought a property in Haggerston or a respected estate agent or mortgage broker. Costs for conveyancing in Haggerston differ, so it's sensible to obtain at least four fee estimates from varying types of property lawyers. Dont forget to clarify what costs in the quote includes.