Just been in touch with my conveyancing solicitor in Ladywell who completed the legal work two years ago requesting a conveyancing costs illustration based on an identical type of home move (a leasehold property and a freehold property) of similar values with a loan from Barclays . It looks as though am now being quoted twice the amount. Better the devil I know or should I seek out an alternative property lawyer?
The costs illustration is slightly on the expensive side. If you shop around you may be able to reduce the fees marginally by as much as £125. That being said, providing that you were content with the conveyancing the firm offered you maycome to regret choosing an a cheaper lawyer. Remember to check that the solicitor can also act for Barclays . Do make use of our search tool to get a quote a Ladywell conveyancing firm on the Barclays approved list of lawyers, which can often include conveyancing solicitors in Ladywell.
We are expecting a mortgage offer soon. The lender mentioned the mortgage came with free conveyancing. Is the implication that I have to instruct their panel solicitor as I would much rather instruct a Ladywell based conveyancing firm?
You should check but the the likelihood is that give you one of their panel conveyancers if you accept the "fee-free" deal. Contact the bank to determine if they offer you a cash alternative. Some lenders have previously offered a £250 cashback as a further option in which case that money can go towards your preferred conveyancing solicitor in Ladywell.
We had instructed conveyancing lawyers locally in Ladywell on the Bank of Ireland solicitor approved list. They have just invoiced me a supplemental charge for the legal aspects of the Bank of Ireland mortgage. Is this a supplemental conveyancing fee set by Bank of Ireland?
Unfortunately, so long as it is in their Terms of Engagement or Quote then yes your conveyancing practitioner is entitled to levy a fee for this. This fee is not set by Bank of Ireland but by your Ladywell solicitor. Some firms on the Bank of Ireland panel will levy an ‘acting for lender’ fee and others do not.
Two weeks ago we had a mortgage agreed in principle with Yorkshire BS. Ladywell conveyancing practitioners have been appointed. How long does it take for Yorkshire BS to issue the offer to the conveyancing practitioner?
Some lenders take longer than others. Have Yorkshire BS done the valuation? Have you informed Yorkshire BS as to your lawyers' details and checked that your lawyers are on the Yorkshire BS conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
I have a mortgage with Kent Reliance for my property in Ladywell. 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 buy-to-let mortgage or inform Kent Reliance?
Your original mortgage agreement with Kent Reliance will provide that you need their approval prior to renting your property as this is likely to be a breach of Kent Reliance’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 Kent Reliance directly. You need not do this via a Kent Reliance conveyancing panel solicitor.
Are there restrictive covenants that are commonly picked up as part of conveyancing in Ladywell?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the process of conveyancing in Ladywell. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
I'm buying my first flat in Ladywell with a mortgage from Bank of Scotland. The sellers would not budge the amount so I negotiated 6k of extras instead. The sale representative advised me not reveal to my conveyancer about the deal as it could put at risk my loan with the bank. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the developer 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.
I've recently bought a leasehold property in Ladywell. Am I liable to pay service charges for periods before completion of my purchase?
Where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I have attempted and failed to negotiate with my landlord for a lease extension without getting anywhere. Can a leaseholder apply to the Leasehold Valuation Tribunal? Can you recommend a Ladywell conveyancing firm to act on my behalf?
Where there is a absentee freeholder or if there is dispute about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the Leasehold Valuation Tribunal to make a decision on the sum to be paid.
An example of a Freehold Enfranchisement decision for a Ladywell flat is 44 Elmer Road in January 2013. The Tribunal dacied that amount to be paid by the Leaseholders for the Landlords freehold reversion was £12,951 as at the valuation date (20" September 2012).This matter was referred back to the Bromley County Court to deal with costs, fees and any other outstanding matters. This case affected 2 flats. The unexpired residue of the current lease was 74.25 years.