I have just started taking steps with a view to transferring my existing standard mortgage to a Buy to Let Lloyds TSB Bank mortgage. I was told by my financial advisor that I must appoint a solicitor for this. I got in contact with the same Montgomery conveyancing solicitor who dealt with the legals when I originally acquired the property. The quote e-mailed to me of £550 has taken me by surprise as its a refinance than a sale or purchase.
The charges seem a tad high. If you shop around you may be able to trim some of the cost by say a hundred pounds. That being said, assuming were satisfied with the conveyancing the firm gave you mightcome to rue opting for an an unknown lawyer. If is important to ensure the conveyancer can represent Lloyds TSB Bank. You can use our search tool to locate a Montgomery conveyancing firm on the Lloyds TSB Bank approved list of lawyers, which can often include conveyancing solicitors in Montgomery.
Completed the sale of my flat in Montgomery last October but my buyer keeps Skype messaging every few hours complaining that his lawyer needs to hear from mine. What are the post completion sale formalities now that I have sold?
Post completion of your disposal your lawyer is committed to send the transfer deeds and all supplemental paperwork to the purchaser's solicitors. Depending on the transaction, your conveyancer must also evidence that the legal charge in favour of the lender has been discharged to the purchasers lawyers. There is unlikely to be post completion formalities just for conveyancing in Montgomery.
I have been told that property searches are the primary reason for hinderance in Montgomery house deals. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) released conclusions of research by MoveWithUs that conveyancing searches do not feature amongst the top 10 causes of hindrances in the conveyancing process. Local searches are unlikely to feature in any holding up conveyancing in Montgomery.
I own a renovated Edwardian property in Montgomery. Conveyancing lawyer represented me and Barclays Direct. I did a free Land Registry search last week and there are two entries: the first freehold, another for leasehold under the matching address. I'd like to know for sure, how can I find out??
You need to read the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Montgomery and other locations in the country and poses no real issues for owners other than when they sell they have to account for both freehold and leasehold interests when dealing with lenders. You can also question the situation with the conveyancing lawyer who conducted the conveyancing.
We expect to complete the disposal of our £375,000 garden flat in Montgomery in 5 days. The management company has quoted £408 for Landlord’s certificate, building insurance schedule and previous years service charge statements. Is it legal for a freeholder to charge an administration fee for a flat conveyance in Montgomery?
Montgomery conveyancing on leasehold flats often requires the purchaser’s conveyancer sending questions for the landlord to answer. Although the landlord is not legally bound to answer such questions most will be content to do so. They may invoice a reasonable charge for answering enquiries or supplying documentation. There is no upper cap for such fees. The average fee for the paperwork that you are referring to is £350, in some situations it is above £800. The management information fee levied by the landlord must be accompanied by a synopsis of entitlements and obligations in respect of administration charges, otherwise the invoice is not strictly payable. In reality you have little option but to pay whatever is demanded if you want to complete the sale of your home.
I bought a 1st floor flat in Montgomery, conveyancing was carried out in 1996. Can you give me give me an indication of the likely cost of a lease extension? Comparable properties in Montgomery with over 90 years remaining are worth £227,000. The average or mid-range amount of ground rent is £50 per annum. The lease expires on 21st October 2097
You have 72 years remaining on your lease we estimate the price of your lease extension to range between £9,500 and £11,000 as well as professional fees.
The suggested premium range above a general guide to costs for extending a lease, but we cannot give you the actual costs without more detailed investigations. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. Neither should you take any other action based on this information without first seeking the advice of a professional.
When it comes to my conveyancing in Montgomery should I be paying VAT on the following: (1) Land reg fee on purchase (2) Pre - completion search fee (3) SDLT E submission on purchase (4) Bank TT fee
(1) Land reg fee on purchase - No (2) Pre - completion search fees -No, (such conveyancing searches are HMLR ones and means £4 and possibly £2 bankruptcy per name on your mortgage) (3) SDLT E submission on your purchase - There is no VAT on Stamp Duty. However if the firm is charging a stamp duty e-submission fee as part of their services - some Montgomery conveyancers do - that will incur VAT(4) Bank transfer fee - Yes it is for the conveyancer's time in submitting the funds this way.