I'm in the process of swapping over from my domestic loan to a BTL Lloyds TSB Bank mortgage. The bank has said that I need a conveyancer for this. I got in contact with the same Hillsborough conveyancing solicitor who who conducted the conveyancing when I previously bought the house. The fee estimate e-mailed to me of £575 plus disbursements is an eye-watering amount to do this as I am not require purchase conveyancing - it’s just a straightforward remortgage.
The estimate does seem a little on the high side. If you shop around you could reduce the fees marginally by perhaps £100 plus VAT. That being said, if you were content with the assistance the firm gave you maylive to regret opting for an a cheaper lawyer. Remember to check the firm can act for Lloyds TSB Bank. Do employ our search tool to select a Hillsborough conveyancing firm on the Lloyds TSB Bank conveyancing panel, which can often include conveyancing solicitors in Hillsborough.
The Hillsborough conveyancing firm handling our Hillsborough conveyancing has identified an inconsistency between the information in the home valuation survey and what is in the conveyancing documents. My lawyer informs me that he is duty bound to check that the lender is OK with this discrepancy and is still content to lend. Is my conveyancer’s course or action right?
Your solicitor must comply with the UK Finance Lenders’ Handbook requirements which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for both parties.
It is is a decade since I acquired my property in Hillsborough. Conveyancing lawyers have recently been retained on the sale but I am unable to find my deeds. Is this a problem?
You need not be too concerned. First the deeds may be with the lender or they could still be with the solicitor who acted in your purchase. Secondly in most cases the land will be registered at the land registry and you will be able to prove you own the property by your conveyancing solicitors procuring current official copies of the land registers. The vast majority of conveyancing in Hillsborough involves registered property but in the unlikely event that your home is not registered it adds to the complexity but is resolvable.
Over the last few months I have been searching for a flat up to £305k and identified one near me in Hillsborough I like with open areas and transport links in the vicinity, however it's only got 49 years on the lease. There is not much else in Hillsborough in this price bracket, so just wondered if I would be making a mistake acquiring a short lease?
Should you need a home loan the remaining unexpired lease term will be problematic. Reduce the price by the amount the lease extension will cost if not already taken into account. If the existing proprietor has owned the premises for at least twenty four months you can request that they start the process of the extension and then assign it to you. An additional ninety years can be extended on to the existing lease term with a zero ground rent applied. You should speak to your conveyancing solicitor regarding this matter.
How easy is it to swap firm as I need to instruct a firm on the Lloyds TSB Bank conveyancing list. I hired a high street conveyancing solicitor in Hillsborough round the corner but the firm is not accepted by Lloyds TSB Bank
It would be our pleasure to help you select a conveyancing solicitor in Hillsborough on the Lloyds TSB Bank panel. Please note that the law firms that we list do not pay us commission if you instruct them and are under regulation of the SRA who oversee all conveyancing solicitors in Hillsborough. In making use of search facility on this page, you can contrast fees for conveyancing solicitors in Hillsborough and beyond.
I happen to be an executor of my recently deceased mum’s Will, with a bungalow in Hillsborough which is to be sold. The house is unregistered at the Land Registry and I'm advised that many buyers solicitors will insist that it is completed before they will move forward. What's the mechanism for this?
In the situation you refer to it seems sensible to apply to register in the names of the personal representative(s) as named in the probate and in their capacity as PRs. HMLR’s online guidance explains how to register for the first time and what is required re the deeds and forms. You would need to include and official copy of the probate as well and complete the form FR1 to refer to the PRs as the applicant.