I'm in the process of transferring my current homeowner home loan to a Buy to Let Halifax mortgage. The bank has said that I must appoint a lawyer as part of the process. I got in contact with my past Carisbrooke conveyancing practitioner who who completed the conveyancing when I previously bought the house. The fee calculation e-mailed to me of £450 plus VAT is an eye-watering amount to do this as its a refinance than a sale or purchase.
The estimate fees are a tad high. If you shop around you might get the conveyancing a bit cheaper by as much as £100 plus VAT. On the other hand, providing that you were content with the conveyancing the firm provided you mightcome to regret choosing an an untested lawyer. Remember to check the firm can represent Halifax. You can use our search tool to select a Carisbrooke conveyancing firm on the Halifax conveyancing panel, which can often include conveyancing solicitors in Carisbrooke.
When can the exchange of contracts occur in residential conveyancing in Carisbrooke and do I need to be at the lawyers office?
Where you are local to our conveyancing solicitors in Carisbrooke you are welcome to attend to sign contracts. However, the firms we work with provide a countrywide conveyancing service and provide as equally detailed and professional a job for you when dealing with you electronically. The signing of the contract is not the critical part. Signing on the dotted line simply enables the firm to address the formalities at the appropriate time, which will usually be very shortly after signing. The procedure is nowadays normally dealt with by telephone and can be very rapid, although where a long "chain" is in play, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Carisbrooke)to be in the office available at the end of the phone to exchange contracts.
My Conveyancer in Carisbrooke is not on the Leeds Building Society Solicitor Panel. Is it possible for me to retain my prefered solicitor even though they are excluded from the Leeds Building Society panel?
The limited options open to you here include:
- Carry on with your preferred Carisbrooke solicitors but Leeds Building Society will need to use a solicitor on their panel. This will inevitably rack up the total legal charges as well as result in delays.
- Choose an alternative solicitor to act in the conveyancing, not forgetting to check they are Leeds Building Society approved.
- Try to convince your Leeds Building Society solicitor to attempt to join the Leeds Building Society panel
Various internet forums that I have visited warn that are a common cause of hinderance in Carisbrooke conveyancing transactions. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) published determinations of a review by MoveWithUs that conveyancing searches do not feature within the common causes of delays in the conveyancing process. Searches are unlikely to feature in any delay in conveyancing in Carisbrooke.
I have a terraced Edwardian property in Carisbrooke. Conveyancing practitioner represented me and Bank of Ireland. I did a free Land Registry search last week and I saw two entries: one for freehold, the second leasehold under the exact same address. Is it worth asking Bank of Ireland to clarify?
You need to read the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Carisbrooke 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 mortgage companies. You can also check the position with your conveyancing solicitor who conducted the conveyancing.