I'm in the process of switching my current homeowner loan to a Buy to Let Yorkshire Building Society mortgage. The bank has said that I require a solicitor for this. I spoke to my previous South Woodford conveyancing practitioner who who completed the conveyancing when I initially bought the property. The costs estimate provided of just over five hundred pounds has shocked me as I am not require purchase conveyancing - it’s just a bog-standard refinance.
The quote is slightly on the high side. Where you are prepared to spend time contrasting prices you could reduce the fees slightly by say £125. On the other hand, if you were happy with the legal work the firm offered you maylive to regret opting for an a cheaper conveyancer. Remember to be sure the conveyancer can act for Yorkshire Building Society. You can employ our search tool to find a South Woodford conveyancing firm on the Yorkshire Building Society approved list of lawyers, which can often include conveyancing solicitors in South Woodford.
The South Woodford conveyancing firm handling our South Woodford conveyancing has identified a discrepancy between the surveyor’s assumptions in the home valuation report and what is revealed within the conveyancing documents. My solicitor says that he is obliged to check that the lender is OK with this discrepancy and is content to go ahead. Is my conveyancer’s course or action correct?
Your solicitor must comply with the UK Finance Lenders’ Handbook requirements which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for both parties.
Forgive me if this question is silly but I am unexperienced as FTB of a two bedroom flat in South Woodford. Do I pick up the keys to the premises on completion from my conveyancer? If this is the case, I will use a local conveyancing solicitor in South Woodford?
On the day of completion you will not be required to go to the conveyancers office in South Woodford. Your solicitors will electronically transfer the completion advance to the seller's lawyers, and once they have received this, you will be called to collect the keys from the Estate Agents and move into your new home. Usually this occurs between 1 and 3pm.
We had appointed conveyancing lawyers located in South Woodford on the TSB solicitor panel. They have just billed me a supplemental sum for handling the TSB mortgage. Is this a supplemental conveyancing fee specified by TSB?
As unfair as it may seem, as long as it’s in their Terms and Conditions or estimate then yes your conveyancer is entitled to charge a fee for this. This fee is not set by TSB but by your South Woodford property lawyer. Some firms on the TSB panel will levy ’dealing with mortgage’ fee and others do not.
The formalities of my remortgage has taken place for my property in South Woodford. Conveyancing was of an acceptable standard but I feel I should register my dissatisfaction about the lender. How does one go about formally complaining?
Most banks and building societies have complaints procedures. Your first port of call should be one of the lender’s branches or the Customer Services Team at head office. Ordinarily complaints to a lender are resolved effectively and efficiently. However if you are not satisfied that the matter is not resolved you can write to Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London E14 9SR who will take matters further.
Due to the encouragement of my in-laws I had a survey completed on a property in South Woodford prior to retaining solicitors. I have been advised that there is a flying freehold overhang to the property. Our surveyor advised that some banks may refuse to give a mortgage on this type of premises.
It varies from the lender to lender. Santander has different instructions from Halifax. Should you wish to call us we can look into this further with the relevant mortgage company. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in South Woodford. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in South Woodford to see if the conveyancing costs will increase in light of this.
Am I better off to go with a South Woodford conveyancing lawyer in close proximity to the house I am purchasing? I have an old university friend who can conduct the legal work but they are based 200kilometers away.
The benefit of a high street South Woodford conveyancing practice is that you can attend the office to execute paperwork, present your ID and apply pressure on them if necessary. Having local South Woodford know how is a bonus. That being said nothing is more important than finding someone that will do a good and efficient job. If if people you trust instructed your friend and they were impressed that should trump using an unfamiliar South Woodford conveyancing lawyer solely due to them being South Woodford based.
I have attempted and failed to negotiate with my landlord to extend my lease without success. Can one apply to the Leasehold Valuation Tribunal? Can you recommend a South Woodford conveyancing firm to assist?
Where there is a absentee landlord or if there is dispute about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the Leasehold Valuation Tribunal to calculate the amount due.
An example of a Lease Extension matter before the tribunal for a South Woodford premises is 135 Maybank Road in January 2013. The Tribunal determined that the price to be paid by the tenants for the grant of a new lease is £10,592 This case related to 1 flat. The number of years remaining on the existing lease(s) was 71.2 years.
What makes a South Woodford lease defective?
There is nothing unique about leasehold conveyancing in South Woodford. All leases are unique and drafting errors can result in certain clauses are missing. For example, if your lease is missing any of the following, it could be defective:
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A provision to repair to or maintain parts of the building A provision for the recovery of money spent for the benefit of another party.
You may encounter difficulties when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. National Westminster Bank, Chelsea Building Society, and Alliance & Leicester all have express conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is problematic they may refuse to provide security, obliging the buyer to withdraw.