I am in the throes of swapping over from my current homeowner home loan to a Buy to Let Chelsea Building Society mortgage. I have been informed by my broker that I need a conveyancer as part of the process. I had a chat my former Luton conveyancing firm who acted on my behalf when I previously acquired the premises. The pricing estimate provided of £550 is surprising as its a refinance than a sale or purchase.
The estimate does seem a tad steep. Where you are happy to invest time scrutinising costs you might decrease the fees slightly by as much as a hundred pounds. That being said, assuming were pleased with the service the firm gave you maylive to regret choosing an an untested conveyancer. Don't forget to check that the solicitor can also act for Chelsea Building Society. You can make use of our search tool to find a Luton conveyancing firm on the Chelsea Building Society approved list of lawyers, which can often include conveyancing solicitors in Luton.
I am need of leasehold conveyancing for a flat in a fairly new development (five years built) in Luton. The vast majority the properties have already been occupied. Do I need carry out the conveyancing searches for my conveyancing in Luton?
You would be putting yourself at risk in not carrying out Luton conveyancing searches. Without searches you have no clarity over flooding, environmental etc which may mean you walk away due to potential problems down the line. If you are buying mortgage free there is no legal requirement to have them, but we would seriously advise in no uncertain terms that you have them. If time pressures and cost are primary issues you should consider with your conveyancer about the options such as indemnity insurance available to you
I have been referred to a conveyancing solicitor in Luton. I I am struggling to find out if they are on the Bank of Ireland conveyancing panel. Can you help?
The first thing you should do is e-mail the conveyancer and ask them if they can act for the bank. Otherwise please call Bank of Ireland who may be able to confirm.
My wife and I are in the throws of looking at apartments in Luton and I am now considering a potential offer. Is it advisable to have a conveyancing practitioner on ‘stand by’? I will be getting a mortgage with Coventry BS.
You should start obtaining conveyancing quotes from solicitors ASAP. Once you decide who you want to use and once your offer is accepted you can instruct them to work for you and pass their details on to the estate agent. Given that you are seeking a mortgage with Coventry BS, ask your prospective lawyers if they are on the Coventry BS conveyancing panel otherwise they can't do the mortgage legal work.
The mortgage over my property is with Skipton for my property in Luton. Conveyancing has been completed months ago. In the event that I decide to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Skipton?
Skipton must be informed of your intention before letting out your property as this is likely to be a breach of Skipton’s mortgage conditions. In many cases banks or building societies will allow you to rent 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 Skipton directly. It should not be necessary to do this via a Skipton conveyancing panel firm.
At last I have had an offer on an apartment in Luton agreed to, but there is a chain. The sellers have offered on somewhere, however it’s not been accepted yet, and have viewings of other flats in the pipeline. I have chosen a nearby conveyancing solicitor in Luton. What do I do now? When should I get the mortgage application with HSBC started?
It is usual to have apprehensions where there is a chain as you are unlikely to want to be too out of pocket too early (home loan application is in the region of one thousand pounds, then valuation, Luton conveyancing search fees, etc). The first course of action is to check that your conveyancing practitioner is on the HSBC conveyancing panel. As to the subsequent phase this very much depends on the specifics of your case, motivation for the property and on the state of the market. In a rising market some home buyers would apply for a home loan with HSBC and pay for the valuation and only if it comes back ok would they request their lawyer to move forward with the conveyancing in Luton.
Am I right to be wary about brokers that I am dealing with are encouraging me to use a nationwide conveyancing firm rather than a High Street Luton conveyancing practice?
As with many service providers, often referrals from family and friends can be most helpful. Nevertheless there are many parties with a vested interest in a conveyancing transaction; estate agents, financial adviser and mortgage companies may put forward lawyers to use. Sometimes the lawyers might be known to one of the organisations as being good in their field, but sometimes there behind the scenes financial incentive behind the recommendation. You are free to choose your preferred conveyancer. Don't forget that most mortgage providers specify a panel list of lawyers you must use for the lender related work in your conveyancing.
We have appointed a Luton conveyancing solicitor for our house purchase (FTB’s) and have picked up in the Ts and Cs that they are not covered by the Financial Conduct Authority. Need I be worried or is that usually the case with conveyancing practitioner?
We can't see why they should be. Most conveyancer don't lend money. They should be governed by the Solicitors Regulation Authority, who set stringent conditions in relation to amounts sitting in their bank.