I have just started taking steps with the intention of switching my domestic mortgage to a Buy to Let Santander mortgage. The bank has said that I need a solicitor for this. I had a chat my former Swadlincote conveyancing solicitor who acted on my behalf when I originally bought the premises. The fee calculation provided of just over five hundred pounds has taken me by surprise as its a remortgage than a sale or purchase.
The quote is slightly on the steep side. If you are prepared to spend time comparing prices you might get the conveyancing a bit cheaper by perhaps £125. On the other hand, providing that you were content with the conveyancing the firm gave you maycome to regret opting for an an untested conveyancer. Don't forget to be sure the firm can act for Santander. You can use our search tool to find a Swadlincote conveyancing firm on the Santander approved list of lawyers, which can often include conveyancing solicitors in Swadlincote.
I have todaybecome aware that Stirling Law have closed. They conducted my conveyancing in Swadlincote for a purchase of a leasehold flat 9 months ago. How can I check that my home is not still registered in the name of the previous owner?
The easiest way to see if the property is registered to you, you can carry out a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Swadlincote conveyancing specialists.
I am buying a new build house in Swadlincote benefiting from help to buy. The builders refused to reduce the price so I negotiated £7000 of extras instead. The house builders rep told me not disclose to my conveyancer about the deal as it will put at risk my loan with Leeds Building Society. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the builder 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.
Over the last few months I have been searching for a flat up to £195,000 and found one near me in Swadlincote I like with open areas and railway links in the vicinity, the downside is that it only has 52 remaining years left on the lease. There is not much else in Swadlincote for this price, so just wondered if I would be making a mistake purchasing a lease with such few years left?
If you need a mortgage that many years may be an issue. Reduce the offer by the amount the lease extension will cost if it has not already been discounted. If the current owner has owned the property for a minimum of twenty four months you may ask them to commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the existing lease term with a zero ground rent applied. You should consult your conveyancing lawyer concerning this matter.
Is it possible to transfer to a new conveyancer as I need to instruct one who is on the Britannia conveyancing panel. I hired a local conveyancing solicitor in Swadlincote five minutes from me but he is not approved by Britannia
It would be our pleasure to help you select a conveyancing solicitor in Swadlincote on the Britannia panel. Please note that the law firms that we list do not pay us commission if you instruct them and are authorised and regulated by the Solicitors Regulation Authority who oversee all conveyancing solicitors in Swadlincote. Using the find a conveyancing solicitor tool on this site, you can compare and instruct different solicitors and conveyancers both nationally and in Swadlincote.
I am attracted to a two flats in Swadlincote both have in the region of 50 years remaining on the leases. Should I regard a short lease as a deal breaker?
There are plenty of short leases in Swadlincote. The lease is a right to use the property for a prescribed time frame. As a lease shortens the saleability of the lease reduces and results in it becoming more costly to extend the lease. This is why it is often a good idea to increase the term of the lease. Sometimes it is difficult to sell a property with a short lease as mortgage lenders less inclined to grant a loan on such properties. Lease extension can be a protracted process. We advise that you seek professional help from a conveyancer and surveyor with experience in this arena.
I invested in buying a basement flat in Swadlincote, conveyancing was carried out 6 years ago. Can you work out an approximate cost of a lease extension? Corresponding properties in Swadlincote with a long lease are worth £171,000. The ground rent is £50 invoiced annually. The lease comes to an end on 21st October 2104
With just 79 years remaining on your lease we estimate the premium for your lease extension to span between £8,600 and £9,800 plus plus your own and the landlord's "reasonable" professional fees.
The figure that we have given is a general guide to costs for renewing a lease, but we are not able to advice on a more accurate figure in the absence of detailed investigations. Do not use the figures in tribunal or court proceedings. There are no doubt additional issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information without first seeking the advice of a professional.