I'm in the process of swapping over from my current residential loan to a BTL Yorkshire Building Society mortgage. I was told by my mortgage that I need a solicitor for this. I spoke to my previous Witham conveyancing solicitor who who conducted the conveyancing when I originally purchased the property. The fee calculation sent of £470 is an eye-watering amount to do this as its a refinance than a sale or purchase.
The estimate does seem a little steep. If you shop around you may be able to get the conveyancing a bit cheaper by say £100 plus VAT. On the other hand, if you were satisfied with the assistance the firm offered you couldlive to regret opting for an a cheaper solicitor. Remember to enquire that the conveyancer can represent Yorkshire Building Society. You can make use of our search tool to get a quote a Witham conveyancing firm on the Yorkshire Building Society approved list of lawyers, which can often include conveyancing solicitors in Witham.
I am buying a property for cash in Witham. I have been residing for the last dozen years in Witham. Conveyancing searches are exorbitant. Given that I have knowledge of the road and vicinity intimately must I have all the conveyancing searches?
Provided that you do not need a mortgage, then almost all of the Witham conveyancing searches are non-obligatory. Your conveyancer will try and sway you, no-doubt strongly, that you should have searches completed, but she has a professional duty to take that path of guidance. One thing to take into account; if you are going to dispose of the house at a future date, it may be of importance to your future buyer what the searches contain. Sometimes properties with no practical issues can still throw up detrimental search results. A good conveyancing solicitor in Witham will be able to give you some constructive guidance here.
It is a dozen years since I purchased my house in Witham. Conveyancing lawyers have just been instructed on the sale but I am unable to track down the deeds. Is this a problem?
Don’t worry too much. First there is a chance that the deeds will be with the mortgage company or they could be in the possession of the conveyancers who oversaw your purchase. Secondly the likelihood is that the title will be recorded at the land registry and you will be able to prove you are the registered owner by your conveyancing lawyers acquiring up to date copy of the land registers. Nearly all conveyancing in Witham relates to registered property but in the rare situation where your home is not registered it adds to the complexity but is resolvable.
Various internet forums that I have frequented warn that are the primary reason for delay in Witham house deals. Is this right?
The Council of Property Search Organisations (CoPSO) published findings of research by MoveWithUs that conveyancing searches do not feature within the most frequent causes of delays during the legal transfer of property. Searches are unlikely to be the root cause of slowing down conveyancing in Witham.
I have been on the look out for a ground for flat up to £195,000 and found one round the corner in Witham I like with amenity areas and station in the vicinity, however it's only got 52 years unexpired on the lease. I can't really find anything else in Witham in this price bracket, so just wondered if I would be making a mistake purchasing a short lease?
If you need a mortgage that many years may be problematic. Discount 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. You can add 90 years to the existing lease with a zero ground rent applied. You should speak to your conveyancing lawyer regarding this.
I’m about to sell my basement flat in Witham. Conveyancing lawyers have not yet been instructed, however I have recently had a yearly service charge demand – Do I pay up?
The sensible thing to do is discharge the invoice as normal as all ground rent and service charges will be apportioned on completion, 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.
I invested in buying a 2 bed flat in Witham, conveyancing having been completed March 2010. Can you work out an approximate cost of a lease extension? Equivalent flats in Witham with an extended lease are worth £206,000. The ground rent is £45 yearly. The lease runs out on 21st October 2090
With 66 years remaining on your lease we estimate the price of your lease extension to span between £11,400 and £13,200 as well as legals.
The suggested premium range above a general guide to costs for extending a lease, but we are not able to provide the actual costs in the absence of comprehensive due diligence. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information before getting professional advice.