I am getting a mortgage with Lloyds. I intend to retain the legal services of a Licensed Conveyancer in Westminster. Does the Lloyds Conveyancing panel allow for Licensed Conveyancers?
The Lloyds conveyancing panel is, like many other lenders, associated to the CML or BSA, open to Licensed Conveyancers regulated by the CLC.
My grandfather passed away six months ago and as sole heir and executor I was left the property in Westminster. The house had a small mortgage left on it of around £4500. I want to transfer the title deeds into my name whilst I re-mortgage to UBS, pay off the mortgage. Is this allowed?
Where you plan to re-mortgage then UBS will require that you use a conveyancer on the UBS conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your UBS conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the UBS mortgage is registered as a charge at the Land Registry.
When it comes to mortgage companies such as Coventry BS, do Westminster property lawyers have to pay a fee to be on the list of approved solicitors?
We are not aware of any lender fees to be on their list of approved firms, although some do charge an administration fee to deal with the processing of the conveyancing panel submission.
My wife and I are at the point of viewing houses in Westminster and I am now considering a potential offer. Should I already have a conveyancing practitioner appointed at this stage? I will be getting a home loan with Aldermore.
You should start obtaining conveyancing quotes from solicitors ASAP. Once you decide who you want to use and once your offer is accepted you can instruct them to work for you and pass their contact information on to the EA. Given that you are getting a mortgage with Aldermore, make sure you remember to check that your lawyer is on the Aldermore conveyancing panel.
I have a mortgage with HSBC for my property in Westminster. Conveyancing has been completed months ago. In the event that I decide to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform HSBC?
HSBC must be informed of your intention in advance of letting out your property as this is likely to be a breach of HSBC’s mortgage conditions. In many cases banks or building societies will permit you to let out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact HSBC directly. You need not do this via a HSBC conveyancing panel lawyer.
Due to the input of my in-laws I had a survey completed on a property in Westminster in advance of appointing lawyers. I have been informed that there is a flying freehold overhang to the house. Our surveyor advised that some lenders will refuse to give a loan on this type of property.
It depends who your proposed lender is. Bank of Scotland has different requirements from Birmingham Midshires. Should you wish to telephone us we can check with the appropriate mortgage company. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Westminster. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Westminster to see if the conveyancing costs will increase in light of this.
Is it best to choose a Westminster conveyancing lawyer in close proximity to the house I am buying? I have an old university friend who can perform the legal formalities however his firm is located 400kilometers away.
The benefit of a high street Westminster conveyancing practice is that you can visit the firm to execute paperwork, present your identification documents and pester them where appropriate. They will also have local knowledge which is a benefit. However nothing is more important than finding someone that will pull out all the stops for you. If if people you trust instructed your friend and the majority were impressed that should outweigh using an unfamiliar Westminster conveyancing solicitor solely due to them being local.
Completion is due on the disposal of our £250,000 garden flat in Westminster in 5 days. The freeholder has quoted £348 for Certificate of Compliance, insurance certificate and previous years statements of service charge. Is the landlord entitled to charge an administration fee for a leasehold conveyance in Westminster?
Westminster conveyancing on leasehold maisonettes normally requires the buyer’s conveyancer submitting enquiries for the landlord to answer. Although the landlord is not legally bound to answer such questions the majority will be willing to assist. They may levy a reasonable charge for responding to enquiries or supplying documentation. There is no upper cap for such fees. The average fee for the paperwork that you are referring to is over three hundred pounds, in some transactions it is above £800. The management information fee levied by the landlord must be accompanied by a synopsis of entitlements and obligations in respect of administration charges, without which the invoice is technically not due. Reality however dictates that you have no option but to pay whatever is requested of you if you want to sell the property.
After months of dialogue we cannot agree with our landlord on how much the lease extension should cost for our flat in Westminster. Can we issue an application to the Residential Property Tribunal Service?
in cases where there is a missing freeholder or where there is disagreement about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the LVT to judgment on the price.
An example of a Lease Extension case for a Westminster property is Flats 12A & 19, Evelyn Mansions Carlisle Place in June 2009. The Tribunal held that the price to be paid for the new lease of Flat 12A is £168,824, For the other flat the price was set at £169,110 This case affected 2 flats. The unexpired term as at the valuation date was 56 years.