Just been in touch with my conveyancing solicitor in Victoria Park who conducted the legals two years ago and wanted a conveyancing quote based on an identical type of house move (a leasehold property and a freehold premises) of almost identical values with a home loan from Halifax. I am now being quoted double. Am I right to be tempted to shop around for a cheaper online property lawyer?
The estimate fees appear a tad high. Where you are prepared to spend time scrutinising prices you might shave off some of the cost by perhaps a hundred pounds. That being said, providing that you were satisfied with the assistance the firm offered you mightcome to rue opting for an an untested lawyer. Don't forget to be sure that the solicitor can represent Halifax. Do use our search tool to get a quote a Victoria Park conveyancing firm on the Halifax approved list of lawyers, which can often include conveyancing solicitors in Victoria Park.
It is not clear whether my mortgage offer obliges me to make sure the lease term for the flat is extended prior to the completion date. I have called my Victoria Park bank branch on various occasions and was reassured it wasn't a problem and they would lend. My Victoria Park conveyancing solicitor - who is on the mortgage company conveyancing panel- telephoned to say that they would not lend in accordance with their specific requirements. Who do I believe?
Your conveyancing practitioner must comply with the Council of Mortgage Lenders’ Handbook Part 2 provisions for your bank. Unless your lawyer obtains specific confirmation in writing that the bank will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the bank to contact your lawyer in writing confirming that they will accept the number of years remaining.
After much negotiation I have agreed a price on a house in Victoria Park. My financial adviser suggested a property lawyer. I paid an upfront payment of £200. A few days later, the conveyancer contacted me embarrassingly acknowledging that they were not on the Aldermore conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Aldermore panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
Having read lots of mortgage guides, I note that it is considered advisable to get your house surveyed prior to buying it. When I asked my local Victoria Park solicitor - who is on the Virgin Money conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. is that correct?
Virgin Money will need an independent valuation of the property. Your lawyer will not arrange this. Usually Virgin Money will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. You may wish to consider appointing your own Victoria Park surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
I opted to have a survey carried out on a property in Victoria Park before appointing solicitors. I have been advised that there is a flying freehold overhang to the property. The surveyor advised that some mortgage companies tend refuse to grant a mortgage on a flying freehold house.
It depends who your proposed lender is. Bank of Scotland has different requirements from Birmingham Midshires. Should you wish to call us we can check with the relevant lender. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Victoria Park. Conveyancing will be smoother if you use a solicitor in Victoria Park especially if they regularly deal with such properties in Victoria Park.
I'm refinancing my current house to a BTL loan with The Mortgage Works and I will use the rest of the raised equity as a down payment on another property. The neighborhood we are looking at is Victoria Park. Will your conveyancers be able to act for the two banks and tie in the two deals?
Do use our search tool on this site to check that the lawyers are approved by both lenders. Assuming that they are your conveyancer should be able to tie up the two deals but you should have a chat with you solicitor and make apparent your expectations and needs.
I am thinking of appointing a conveyancing practitioner in Victoria Park for my home move. Is there any facility to review a solicitor's record with the profession’s regulator?
One may see published Solicitor Regulator Association (SRA) decisions arising from inquisitions from 2008 onwards. Visit Check a solicitor's record. To find details Pre 2008, or to check a solicitors history, telephone 0870 606 2555, 08.00 - 18.00 any week day save for Tuesday when lines open at 9.30am. For callers outside the UK, use +44 (0)121 329 6800. The SRA sometimes recorded call for training reasons.
Estate agents have just been given the go-ahead to market my basement apartment in Victoria Park. Conveyancing has not commenced, however I have just had a yearly maintenance charge invoice – should I leave it to the buyer to sort out?
Your conveyancing lawyer is likely to suggest that you should clear the service charge as you normally would because all rents and maintenance payments will be apportioned as part of the financial calculations for completion monies, so you will be reimbursed by the buyer for the period running from after the completion date to the subsequent invoice date. Most management companies will not acknowledge the buyer until the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.
Victoria Park Conveyancing for Leasehold Flats - Examples of Questions you should ask before buying
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The best form of lease structure is a share of the freehold. In this situation the leaseholders enjoy being in charge if their destiny and notwithstanding that a managing agent is often retained if the building is bigger than a house conversion, the managing agent is directed by the tenants. Who are the managing agents? Please note that where the lease has no more than 80 years it will have adverse implications on the marketability of the flat. It is worth checking with your bank that they are happy with the length of the lease. A short lease means that you will almost definitely require a lease extension sooner rather than later and it is worth discovering what this would cost. For most Victoria Parklease extensions you will be be obliged to have owned the premises for 24 months before you are entitled to extend the lease.