I am in the throes of switching my existing standard mortgage to a Buy to Let Halifax mortgage. I have been informed by my broker that I must appoint a conveyancer as part of the process. I had a chat the same Sandown conveyancing solicitor who dealt with the legals when I previously acquired the premises. The costs illustration e-mailed to me of £470 is an eye-watering amount to do this as its a remortgage than a sale or purchase.
The charges appear a little high. If you you were to look around you could get the conveyancing a bit cheaper by perhaps £100 plus VAT. On the other hand, assuming were satisfied with the assistance the firm provided you maylive to rue opting for an an unknown conveyancer. Don't forget to enquire that the firm can act for Halifax. You can make use of our search tool to choose a Sandown conveyancing firm on the Halifax approved list of lawyers, which can often include conveyancing solicitors in Sandown.
Are the Sandown conveyancing solicitors identified as being on the RBS conveyancing panel, together with their details provided by RBS?
Sandown conveyancing firms themselves provide us confirmation that they are on the RBS conveyancing panel as opposed to being supplied with a list from RBS directly.
We are intent on selling our home in Sandown and according to the buyers it appears that there is a risk of it being constructed land that was not decontaminated. A local lawyer would know that there is no such problem. It does beg the question why the purchasers used a nationwide conveyancing practice rather than a conveyancing solicitor in Sandown. We have lived in Sandown for 4 years we know of no issue. Is it a good idea to get in touch with our local Authority to get clarification that there is no issue.
It would appear that you have a conveyancing lawyer currently acting for you. What do they say? You must check with your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out life insurance to cover that same ailment)
It has been four months following my purchase conveyancing in Sandown took place. I have checked the Land Registry site which shows that I paid £150,000 when infact I paid £215,000. 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 asset 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.
I'm purchasing my first flat in Sandown with the aid of help to buy. The builders refused to move on the amount so I negotiated 6k of fixtures and fittings instead. The estate agent suggested that I not disclose to my solicitor about this side-deal as it may impact my loan with the lender. Should I keep quiet?.
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 am employed by a reputable estate agent office in Sandown where we have witnessed a number of leasehold sales derailed due to leases having less than 80 years remaining. I have received conflicting advice from local Sandown conveyancing solicitors. Could you clarify whether the vendor of a flat can initiate the lease extension process for the purchaser on completion of the sale?
As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer need not have to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or at the same time as completion of the sale.
An alternative approach is to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.
I inherited a basement flat in Sandown, conveyancing having been completed half a dozen years ago. Can you please calculate a probable premium for a statutory lease extension? Corresponding properties in Sandown with over 90 years remaining are worth £191,000. The average or mid-range amount of ground rent is £55 per annum. The lease ceases on 21st October 2078
With just 53 years remaining on your lease we estimate the premium for your lease extension to be between £27,600 and £31,800 as well as costs.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs 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 issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Please do not move forward based on this information without first seeking the advice of a professional.