How do I search for the right lawyer who will provide a 1st class service for my conveyancing in March?
First ask the people you trust who they would recommend.
Option 2 is to look on the internet for conveyancing in March. Call a couple or more firms listed and invite them to email you their conveyancing estimate and have a conversation with the lawyer who will handle the legal process beforemaking your choice.
Option 3 is to use this site to assist you in finding the right solicitors for you based on your unique factors including area of the property,timings, complications and who the proposed lender is. Do not be fooled by low cost conveyancing in March
A friend advised me that in purchasing a property in March there may be a number of restrictions preventing external alterations to the property. Is this right?
There are a number of properties in March which have some sort of restriction or requirement of consent to perform external alterations. Part of the conveyancing in March should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
I have today made my last payment due on my mortgage with Bank of Ireland. I assume I don't need a March lawyer on the Bank of Ireland panel to remove the mortgage at the Land Registry. Please confirm.
If you have finished paying off your Bank of Ireland mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Bank of Ireland mortgage from the register. Bank of Ireland, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Bank of Ireland has sent the Land Registry the discharge electronically, and
- Bank of Ireland has instructed the Land Registry to do so
The mortgage over my property is with Principality for my property in March. Conveyancing was finalised 12 months 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 Principality?
You must advise Principality before renting your property as this is likely to be a breach of Principality’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 Principality directly. You need not do this via a Principality conveyancing panel lawyer.
It has been three months since my purchase conveyancing in March took place. I have checked the Land Registry site which shows that I paid £200,000 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.
How does conveyancing in March differ for new build properties?
Most buyers of new build residence in March approach us having been asked by the developer to exchange contracts and commit to the purchase even before the residence is constructed. This is because new home sellers in March tend to acquire the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in March or who has acted in the same development.
I am attracted to a couple of apartments in March which have about fifty years remaining on the lease term. Should I regard a short lease as a deal breaker?
A lease is a legal document that entitles you to use the premises for a period of time. As a lease shortens the marketability of the lease deteriorates and results in it becoming more costly to extend the lease. This is why it is often a good idea to increase the term of the lease. It is often difficult to sell a property with a short lease because mortgage lenders less inclined to grant a loan on properties of this type. Lease extension can be a difficult process. We advise that you get professional assistance from a conveyancer and surveyor with experience in this field.
I acquired a basement flat in March, conveyancing formalities finalised half a dozen years ago. How much will my lease extension cost? Equivalent flats in March with an extended lease are worth £202,000. The ground rent is £60 charged once a year. The lease comes to an end on 21st October 2082
You have 57 years unexpired we estimate the premium for your lease extension to be between £28,500 and £33,000 as well as costs.
The figure that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of comprehensive due diligence. Do not use this information in a Notice of Claim or as an informal offer. There may be additional concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. You should not take any other action based on this information without first getting professional advice.
My brother-in-law has suggested I instruct a conveyancing solicitor in March. I need to find out if they are on the lender's conveyancing panel. Can you help?
It’s a good idea phone the solicitor to check if they are on the lender's approved list. Alternatively please get in touch with us and we can make some checks for you. If they are not on the conveyancing panel we we can help find a reputable conveyancing solicitor in March on the panel for your lender.