I have just started taking steps with a view to swapping over from my current residential home loan to a BTL Leeds Building Society mortgage. I have been informed by my broker that I require a lawyer as part of the process. I had a chat my former Oughtibridge conveyancing solicitor who acted on my behalf when I first acquired the property. The fee estimate supplied of £470 has taken me by surprise as I am not require purchase conveyancing - it’s just a bog-standard refinance.
The charges are a little high. If you are happy to expend time contrasting quotes you may be able to get the conveyancing a bit cheaper by as much as a hundred pounds. That being said, if you were content with the assistance the firm gave you mightlive to regret opting for an an untested solicitor. Remember to be sure that the conveyancer can represent Leeds Building Society. You can utilise our search tool to choose a Oughtibridge conveyancing firm on the Leeds Building Society conveyancing panel, which can often include conveyancing solicitors in Oughtibridge.
In what way does my ID and proof of funds have anything to do with my conveyancing in Oughtibridge? What am I being asked for?
Oughtibridge conveyancing solicitors as well as nationwide property lawyers accross the UK have an obligation under Anti-terror and anti-money-laundering rules to verify the identity of any client in order to satisfy themselves that clients are who they say they are.
Conveyancing clients will need to disclose two forms of certified ID; proof of identity (usually a Passport or Driving Licence) and evidence of address (typically a Utility Bill no older than three months).
Confirmation of the origin of funds is also required in compliance with the money laundering regulations as lawyers have a duty to ensure that the money you are utilising to acquire a property (whether it be the deposit for exchange or the total purchase monies if you are buying without a mortgage) has originated from an acceptable source (such as employment savings) rather than the proceeds of illegitimate activity.
My wife and I are purchasing a property in Oughtibridge. I might seem paranoid but how we can trust a solicitor? At some point we will need to send our life savings into their account. What is the protection we have from them run away with our money?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
I just bought a property at auction in Oughtibridge. Conveyancing is needed. What is next?
Now that you are exchanged you will need to instruct a conveyancing solicitor quickly as you will have a tight deadline in which to complete the conveyancing. An auction property will ordinarily have an associated auction pack. This should include most,if not all of the documents that your lawyer requires. If you have purchased leasehold premises the legal pack should provide a copy of the lease, management information and a sellers leasehold information form and other conveyancing documentation relating to a leasehold property. You should pass this on to the lawyer instructed by you as soon as possible. Do make sure that that you have the requisite funding in order to complete on the date specified in the contract.
I am buying a property in Oughtibridge. One unusual aspect is that the roof has a solar panel. RBS have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
As you are obtaining a mortgage with RBS your lawyer must check the formal requirements set out in Part 2 of UK Finance Lenders’ Handbook for RBS. The CML Handbook sets out minimum specifications for solar panel roof-space leases, and solicitors are required to report to RBS where a lease fails to comply with these conditions. The requirements relate to the installation of panels on properties countrywide and is not isolated to Oughtibridge.
Due to the encouragement of my in-laws I had a survey completed on a property in Oughtibridge ahead of retaining conveyancers. I have been informed that there is a flying freehold element to the house. My surveyor has said that some mortgage companies will refuse to issue a loan on such a house.
It depends who your proposed lender is. Bank of Scotland has different instructions for example to Birmingham Midshires. If you contact us we can investigate further with the appropriate lender. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Oughtibridge. Conveyancing will be smoother if you use a solicitor in Oughtibridge especially if they are familiar with such properties in Oughtibridge.
I'm remortgaging my current property to a buy to let mortgage with Virgin Money and intend to use the remaining equity towards a second house. The location we are looking at is Oughtibridge. Will your solicitors be able to act for both sets of lenders and tie in the two deals?
Do use our search tool on this site to be sure that the lawyers are on the relevant lender panels. Assuming that they are your solicitor should be able to simultaneously deal with the two transactions but you should talk with you conveyancer and specify your desired outcome and requirements.
I am hoping to put an offer on a small detached house that appears to be perfect, at a reasonable figure which is making it more attractive. I have since found out that it's a leasehold rather than freehold. I would have thought that there are particular concerns purchasing a leasehold house in Oughtibridge. Conveyancing lawyers have are soon to be appointed. Will my lawyers set out the risks of buying a leasehold house in Oughtibridge ?
The majority of houses in Oughtibridge are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area can assist with the conveyancing process. We note that you are buying in Oughtibridge in which case you should be looking for a Oughtibridge conveyancing solicitor and be sure that they have experience in advising on leasehold houses. First you will need to check the number of years remaining. Being a leaseholder you will not be entirely free to do whatever you want to the property. The lease comes with conditions such as requiring the landlord’sconsent to carry out alterations. You may also be required to pay a maintenance charge towards the maintenance of the estate where the house is part of an estate. Your conveyancer will appraise you on the various issues.