I am in the throes of transferring my current residential loan to a BTL Aldermore mortgage. The bank has said that I must appoint a solicitor as part of the process. I spoke to my former Waterloo conveyancing firm who acted on my behalf when I originally acquired the house. The quote issued of £575 plus disbursements is an eye-watering amount to do this as I am not require purchase conveyancing - it’s just a straightforward remortgage.
The costs illustration is slightly on the high side. If you are happy to expend time scrutinising prices you could trim some of the expense by say £125. That being said, if you were content with the legal work the firm provided you couldlive to regret opting for an a cheaper lawyer. Don't forget to ensure that the solicitor can act for Aldermore. You can use our search tool to choose a Waterloo conveyancing firm on the Aldermore member panel, which can often include conveyancing solicitors in Waterloo.
The Waterloo conveyancing firm handling our Waterloo conveyancing has uncovered a difference when comparing the surveyor’s assumptions in the home valuation survey and what is revealed within the title deeds. My lawyer says that he is obliged to check that the lender is OK with this discrepancy and is content to go ahead. Is my solicitor’s stance right?
Your property lawyer must comply with the UK Finance Lenders’ Handbook specifications 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 you.
My wife and I purchased a terraced Victorian house in Waterloo. Conveyancing practitioner represented me and Norwich and Peterborough Building Society. I happened to do a free search for it on the Land Registry database and I saw a couple of entries: the first freehold, the second leasehold under the exact same property. I'd like to know for sure, how can I find out??
You should review the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Waterloo and other areas of the country and poses no real issues for owners other than when they buy they have to account for both freehold and leasehold interests when dealing with buyers. You can also enquire as to the situation with the conveyancing lawyer who conducted the purchase.
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I am a negotiator for a busy estate agency in Waterloo where we have experienced a few flat sales put at risk due to leases having less than 80 years remaining. I have been given inconsistent advice from local Waterloo conveyancing solicitors. Please can you clarify whether the vendor of a flat can initiate the lease extension process for the purchaser on completion of the sale?
Provided that the seller has been the owner 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 wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or simultaneously with completion of the disposal of the property.
An alternative approach is 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.
Leasehold Conveyancing in Waterloo - Examples of Queries before Purchasing
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Is there a share of the freehold? It would be wise to discover as much as possible about the managing agents as they will either make your living at the property much easier or uncomfortable. Being a leasehold owner you are frequently at the mercy of the managing agents both financially and when it comes to daily issues such as the tidiness of the communal areas. Ask other people what they think of them. Finally, find out the dates that the maintenance charges are due to the appropriate party and precisely how they are spending that money. What restrictions are there in the Waterloo Lease?
I am purchasing a maisonette with all finances in place. My conveyancer has been supplied with with 2 separate evidence of photo ID, bank statement, endless utility bills. Now he needs a copy from a probate lawyer advising that the money is in order and that it has come from inheritance and not dealing E's in Ibiza.
For some years now requires conveyancing solicitors as well as banks, building societies and other financial institutes to obtain satisfactory evidence of the identity of the client. This is because solicitors who deal with money and property on behalf of their clients can be used by criminals wishing to launder money. In order to comply with the law of money laundering, your Waterloo conveyancing lawyer will need to obtain evidence of your identity as as well as make sure that your funds are legitimate.