I have just started taking steps with a view to porting my current residential home loan to a BTL Coventry Building Society mortgage. I have been informed by my broker that I need a solicitor as part of the process. I got in contact with my past Lees and Moorside conveyancing practitioner who acted on my behalf when I originally bought the house. The pricing estimate e-mailed to me of £550 is an eye-watering amount to do this as I am not require purchase conveyancing - it’s just a straightforward remortgage.
The charges are a little high. Where you are content to expend time comparing charges you could trim some of the cost by perhaps a hundred pounds. On the other hand, if you were satisfied with the assistance the firm provided you maycome to regret choosing an a cheaper solicitor. Don't forget to be sure that the conveyancer can represent Coventry Building Society. Do use our search tool to select a Lees and Moorside conveyancing firm on the Coventry Building Society approved list of lawyers, which can often include conveyancing solicitors in Lees and Moorside.
When it comes to mortgage companies such as UBS, do Lees and Moorside conveyancing practitioners face a yearly amount to be on the list of approved solicitors?
We are not aware of any mortgage company fees to register on their list of approved firms, although some do charge an administration charge to deal with the processing of the conveyancing panel submission.
I had a mortgage agreed in principle with Aldermore. Lees and Moorside conveyancing lawyers are instructed. How long does it take for Aldermore to issue the offer to the conveyancer?
There is no definitive answer here. Have Aldermore conducted the survey? Have you informed Aldermore as to your lawyers' details and checked that your lawyers are on the Aldermore conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
It is not clear whether my bank requires a lease extension. I have called into my local Lees and Moorside building society branch on a couple of occasions and was reassured it wasn't an issue and they would lend. My Lees and Moorside conveyancing solicitor - who is on the mortgage company conveyancing panel- called and was told they will not lend in accordance with their published requirements. Who do I believe?
As long as the property lawyer is on the bank approved list, she or he must comply with the CML Handbook provisions for the lender. Unless your lawyer obtains specific confirmation in writing that the bank 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 lender to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
A colleague recommended that where I am purchasing in Lees and Moorside I should carry out a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
A search of this type is occasionally included in the estimate for your Lees and Moorside conveyancing searches. It is not a small report of about 40 pages, listing and detailing important information about Lees and Moorside around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average House Prices, Crime details, Lees and Moorside Education with plans and statistics, Local Amenities and other useful data concerning Lees and Moorside.
It has been four months following my purchase conveyancing in Lees and Moorside took place. I have checked the Land Registry website which shows that I paid £175,000 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 asset 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.
I need to instruct a conveyancing practitioner in Lees and Moorside for my house move. Is there any facility to review a firm’s record with the legal regulator?
One may find published Solicitor Regulator Association (SRA) decisions stemming from inquisitions commenced on or after 1 January 2008. Go to Check a solicitor's record. To find records Pre 2008, or to check a firm's record, ring 0870 606 2555, 08.00 - 18.00 Monday, Wednesday, Thursday, Friday and 09.30 - 18.00 Tuesday. For callers outside the UK, dial +44 (0)121 329 6800. The regulator could recorded telephone calls for training reasons.
I am a negotiator for a reputable estate agency in Lees and Moorside where we have witnessed a number of flat sales put at risk as a result of short leases. I have received conflicting advice from local Lees and Moorside conveyancing firms. Could you confirm whether the vendor of a flat can initiate the lease extension formalities for the purchaser on completion of the sale?
As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser can avoid having to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or at the same time as completion of the disposal of the property.
An alternative approach is to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.
Lees and Moorside Conveyancing for Leasehold Flats - Sample of Queries Prior to buying
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You should want to find out as much as you can concerning the managing agents as they will affect your use and enjoyment of the property. As the proprietor of a leasehold property you will be at the mercy of the managing agents both financially and when it comes to daily issues like the cleanliness of the communal areas. Enquire of prospective neighbours if they are happy with their management. Finally, investigate as to the dates that the maintenance fees are due to the appropriate party and specifically what you get for your money. How many of the leaseholders are in arrears for their service charge payments? It is important to be aware whether fixing the lift or some other significant cost is due shortly to be shared amongst the leasehold owners and may well materially increase the the service costs or necessitate a one off payment.