I am in the throes of swapping over from my current homeowner home loan to a BTL Birmingham Midshires mortgage. The bank has said that I need a lawyer for this. I had a chat my previous London conveyancing firm who who conducted the conveyancing when I previously purchased the property. The costs illustration provided of £550 has surprised me as its a remortgage than a sale or purchase.
The charges seem a bit high. Where you are prepared to expend time comparing charges you might get the conveyancing a bit cheaper by perhaps £125. That being said, if you were content with the service the firm offered you maycome to regret choosing an a cheaper conveyancer. Remember to ensure that the solicitor can also act for Birmingham Midshires. You can employ our search tool to select a London conveyancing firm on the Birmingham Midshires member panel, which can often include conveyancing solicitors in London.
Despite weeks of looking the Title Certificate and documents to our property are lost. The conveyancers who handled the conveyancing in London 4 years ago have long since closed. Will I be able to sell the house?
These day there are duplicates made of almost everything, and your conveyancer should be aware precisely where to look for all the suitable paperwork so you can buy or dispose of your property without a hitch. If duplicates can’t be found, your lawyer can put in place insurance or indemnities against possible claims on the premises.
I am purchasing my first flat in London with the aid of help to buy. The sellers refused to move on the amount so I negotiated 6k of additionals instead. The house builders rep suggested that I not inform my solicitor about the extras as it will jeopardize my mortgage with Britannia. 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 decided to have a survey done on a property in London ahead of retaining conveyancers. I have been informed that there is a flying freehold aspect to the property. The surveyor advised that some banks will not give a loan on a flying freehold home.
It depends who your proposed lender is. Bank of Scotland has different requirements for example to Birmingham Midshires. Should you wish to call us we can check via the appropriate lender. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in London. Conveyancing may be slightly more expensive based on your lender's requirements.
Hoping to buy a property located in London and I am already nervous. I couldn't find anything specific about London. Conveyancing will be needed in due course but do you know about the London area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at London. In the meantime here are some basic statistics that we found
Is there a distinction between surveying and conveyancing in London?
Conveyancing - in London or elsewhere - is the legal term given to transferring legal title of property from one person to another. It involves the checking of the title. Whether buying or selling, you should be aware of anything affecting the property such as proposals by government departments, illegal buildings, or outstanding rates. The conveyancer should conduct the appropriate searches and inquiries on the property. Surveying relates to the structure of a property itself. A surveyor will look at a house, flat and any outbuildings you are purchasing and will help you find out about the condition of the building and, if there are problems, give you leverage for negotiating the buying price down or asking the vendor to remedy the problems before you complete your move.