Just contacted my conveyancing lawyer in Launceston who conducted the legals 18 months ago asking for a conveyancing costs illustration based on the same type of house move (a leasehold residence and a freehold property) of similar values with a loan from Accord Mortgages Ltd. I am now being charged twice the amount. Am I right to be tempted to shop around for an alternative firm of conveyancing solicitor?
The charges seem a tad high. If you are happy to invest time scrutinising quotes you could get the conveyancing a bit cheaper by as much as £100 plus VAT. That being said, assuming were satisfied with the assistance the firm offered you couldcome to rue choosing an a cheaper conveyancer. Don't forget to be sure that the solicitor can represent Accord Mortgages Ltd. Do use our search tool to get a quote a Launceston conveyancing firm on the Accord Mortgages Ltd member panel, which can often include conveyancing solicitors in Launceston.
My fiance and I are refinancing our penthouse in Launceston with Kent Reliance. We have a son approaching twenty who lives at home. Our solicitor requested us to identify anyone over the age of 17 other than ourselves who reside at the property. Our lawyer has now e-mailed a document for our son to sign, waiving any legal rights in the event that the apartment is repossessed. I have a couple of questions (1) Is this document specific to the Kent Reliance conveyancing panel as he never had to sign this form when we remortgaged 3 years ago (2) Does our son by signing this compromise his rights to inherit the property?
First, rest assured that your Kent Reliance 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 Kent Reliance. This is solely used to protect Kent Reliance 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 Kent Reliance 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 house in Launceston is up for sale and I have a buyer. Will my lawyer have to be on the UBS conveyancing panel in order to deal with the discharge of my mortgage?
Ordinarily, even if your lawyer is not on the UBS conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their conditions fairly frequently currently.
It has been three months since my purchase conveyancing in Launceston took place. I have checked the Land Registry site which shows that I paid £150,000 when infact I paid £170,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the residence from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
Due to the guidance of my in-laws I had a survey completed on a property in Launceston ahead of appointing conveyancers. I have been told that there is a flying freehold overhang to the property. Our surveyor has said that some banks may not issue a loan on a flying freehold home.
It varies from the lender to lender. Santander has different requirements for example to Nationwide. If you contact us we can investigate further with 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 Launceston. Conveyancing will be smoother if you use a solicitor in Launceston especially if they are acquainted with such properties in Launceston.
I'm remortgaging my existing house to a buy to let loan with Nottingham Building Society and intend to use the remaining equity as a down payment on a second house. The area we are talking about is Launceston. Will your solicitors be able to act for the two mortgage companies and tie in the two deals?
Do use our comparison tool on this page to ensure that the solicitors are approved by both mortgage companies. Assuming that they are the lawyer will be able to simultaneously deal with the two deals but you should talk with you solicitor and make apparent your desired outcome and needs.