I have just started taking steps with the aim of porting my domestic mortgage to a BTL Barclays mortgage. I have been informed by my broker that I need a lawyer for this. I got in contact with my previous Southfields conveyancing solicitor who acted on my behalf when I initially acquired the premises. The fee calculation they've given of £450 plus VAT is surprising as I am not require purchase conveyancing - it’s simply a bog-standard refinance.
The estimate does seem a tad on the high side. Where you are willing to expend time contrasting quotes you may be able to shave off some of the expense by say £100 plus VAT. That being said, providing that you were happy with the conveyancing the firm provided you couldlive to rue opting for an an untested conveyancer. Remember to enquire that the solicitor can represent Barclays . Do use our search tool to locate a Southfields conveyancing firm on the Barclays approved list of lawyers, which can often include conveyancing solicitors in Southfields.
I am helping my niece sell her house in Southfields. Will the solicitor order the energy assessment or should I organise this?
After the demise of Home Packs, energy assessments was retained a mandatory component of selling a house. An energy performance certificate should be to hand in advance of the property being marketed. It is not as aspect of the sale process that solicitors normally arrange. If you are using a Southfields conveyancing solicitor they might be able to arrange EPC’s due to their contacts with long established local accredited person
Planning on purchasing a flat in Southfields. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Lloyds conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Southfields conveyancer is on the Lloyds conveyancing panel.
Principality have agreed my mortgage in principle, my offer on a house in Southfields has been accepted, what are the next steps?
The estate agent will want to be advised as to your conveyancer's details (make sure the lawyers are on the lender’s approved list). Contact Principality or the financial adviser and finish off any outstanding documentation. Principality will appoint a valuer who will get in touch with the selling agent or vendor to arrange a slot for the valuation to occur. Once conducted (assuming no problems) it takes on average a week for the mortgage offer to be issued. Principality will send the offer to you and your conveyancers. The transaction will then take it’s course according the nature and complexity of the conveyancing in Southfields.
Will our lawyer be raising questions about flooding during the conveyancing in Southfields.
The risk of flooding is if increasing concern for lawyers conducting conveyancing in Southfields. There are those who purchase a property in Southfields, fully aware that at some time, it may suffer from flooding. However, aside from the physical destruction, where a house is at risk of flooding, it may be difficult to obtain a mortgage, satisfactory insurance cover, or sell the property. There are steps that can be taken during the course of a house purchase to forewarn the purchaser.
Lawyers are not qualified to impart advice on flood risk, however there are a various checks that may be undertaken by the purchaser or on a buyer’s behalf which should give them a better understanding of the risks in Southfields. The standard completed inquiry forms supplied to a purchaser’s conveyancer (where the Conveyancing Protocol is adopted) includes a usual question of the owner to determine if the property has suffered from flooding. In the event that the premises has been flooded in past and is not revealed by the owner, then a buyer may issue a claim for damages as a result of such an misleading response. The buyer’s solicitors may also carry out an environmental search. This should higlight if there is any known flood risk. If so, more detailed inquiries will need to be made.
It has been 3 months since my purchase conveyancing in Southfields concluded. I have checked the Land Registry site which shows that I paid £200,000 when infact I paid £160,000. 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.
I am employed by a long established estate agent office in Southfields where we have experienced a few flat sales derailed due to short leases. I have received inconsistent advice from local Southfields conveyancing firms. Could you shed some light as to whether the vendor of a flat can start the lease extension formalities 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 start the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser can avoid having 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 before, or at the same time as completion of the sale.
Alternatively, it may be possible to agree the lease extension with the freeholder 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 buyer.
Having spent months of negotiations we simply can't agree with our landlord on how much the lease extension should cost for our flat in Southfields. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?
in cases where there is a absentee freeholder or where there is dispute about what the lease extension should cost, under the relevant legislation it is possible to make an application to the Leasehold Valuation Tribunal to determine the price payable.
An example of a Lease Extension decision for a Southfields property is 83 Balvernie Grove in February 2012. The Tribunal assessed the price to be paid by the leaseholder to the freeholder for the lease extension pursuant to section 48 of the Leasehold Reform Housing & Urban Development Act 1993 should be£16,603.00 This case was in relation to 1 flat. The unexpired term as at the valuation date was 69.32 years.
What can I do to find out who owns a property in Southfields?
On the basis that the premises is registered with the Land Registry, and you have requisite details of the location of the premises, you should be able to view details from the HM Land Registry of the registered proprietor for a for less than a fiver.