I am in the throes of transferring my existing standard loan to a BTL Bank of Scotland mortgage. I was told by my mortgage that I must appoint a solicitor as part of the process. I got in contact with my past Headley conveyancing firm who who conducted the conveyancing when I originally purchased the house. The costs illustration e-mailed to me of £470 is an eye-watering amount to do this as its a refinance than a sale or purchase.
The costs illustration is slightly on the high side. If you shop around you could shave off some of the cost by as much as a hundred pounds. On the other hand, providing that you were pleased with the conveyancing the firm offered you maylive to regret opting for an an unknown solicitor. Remember to enquire that the conveyancer can also act for Bank of Scotland. Do use our search tool to choose a Headley conveyancing firm on the Bank of Scotland member panel, which can often include conveyancing solicitors in Headley.
My partner and I swapping mortgage lender for our maisonette in Headley with Bank of Ireland. We have a son 19 who lives with us. Our solicitor requested us to identify any adults other than ourselves who reside at the property. 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 concerns (1) Is this form unique to the Bank of Ireland conveyancing panel as he did not need to sign this form when we bought 3 years ago (2) Does our son by signing this extinguish his entitlement to inherit the property?
First, rest assured that your Bank of Ireland conveyancing panel solicitor is doing the right thing 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 Bank of Ireland. This is solely used to protect Bank of Ireland 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 Bank of Ireland 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.
My wife and I have recently appointed a conveyancing solicitor in Headley. I I would like to check whether they are accepted on the Virgin Money conveyancing panel. Could you or the lender confirm if they are on the panel?
You should call your lawyer and enquire if they are on the lender panel. Otherwise please get in touch with Virgin Money who may be able to confirm.
Over the last few months I have been searching for a ground for flat up to £305k and identified one round the corner in Headley I like with open areas and railway links in the vicinity, the downside is that it's only got 52 years unexpired on the lease. I can't really find anything else in Headley in this price bracket, so just wondered if I would be making a grave error purchasing a lease with such few years left?
If you need a mortgage the remaining unexpired lease term may be a potential deal breaker. Discount the price by the amount the lease extension will cost if it has not already been discounted. If the existing owner has owned the premises for at least 2 years you could request that they start the process of the extension and then assign it to you. You can add 90 years to the current lease term with a zero ground rent applied. You should speak to your conveyancing lawyer concerning this matter.
We're first time buyers - agreed a price, yet the property agent told us that the vendor will only issue a contract if we use the agent's recommended conveyancers as they need a ‘quick sale’. We would rather use a family solicitor accustomed to conveyancing in Headley
We suspect that the owner is not behind this ultimatum. If they desire ‘a quick sale', alienating a serious buyer is is going to put the whole deal at risk. Speak to the vendors direct and explain that (a)you are serious purchasers (b)you are excited to move forward, with finances in place © you are chain free (d) you wish to move quickly (e)however you will continue to use your own,trusted Headley conveyancing firm - rather thanthose that will earn the estate agent a introducer fee or meet his conveyancing figures pre-set by head office.
My boyfriend is buying a basement flat in Headley. He was given a quote by the conveyancing practitioner recommended by the estate agents totaling £1245 . It was seven years ago since I sold and purchased a property and the fee was £600. Have fees really gone up that much?
What does the conveyancing estimate include? Is it just for the legal fees, or what you will be paying in total (for instance Headley searches, land registry fees, etc)