I'm in the process of transferring my current residential loan to a Buy to Let Clydesdale mortgage. I have been informed by my broker that I need a conveyancer as part of the process. I got in contact with the same Kimbolton conveyancing solicitor who who completed the conveyancing when I previously purchased the property. The quote e-mailed to me of £470 has shocked me as I am not require purchase conveyancing - it’s just a bog-standard refinance.
The estimate does seem a little overpriced. If you shop around you might get the conveyancing a bit cheaper by as much as £100 plus VAT. That being said, assuming were content with the conveyancing the firm gave you mightlive to regret opting for an an unknown lawyer. Remember to be sure that the conveyancer can also act for Clydesdale. You can employ our search tool to choose a Kimbolton conveyancing firm on the Clydesdale conveyancing panel, which can often include conveyancing solicitors in Kimbolton.
How does conveyancing in Kimbolton differ for new build properties?
Most buyers of new build or newly converted property in Kimbolton contact us having been asked by the developer to exchange contracts and commit to the purchase even before the premises is built. This is because new home sellers in Kimbolton tend to purchase the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Kimbolton or who has acted in the same development.
Due to the input of my in-laws I had a survey completed on a house in Kimbolton ahead of appointing conveyancers. I have been informed that there is a flying freehold overhang to the property. My surveyor has said that some mortgage companies may refuse to give a mortgage on this type of premises.
It depends who your proposed lender is. Santander has different requirements from Halifax. If you e-mail 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 Kimbolton. Conveyancing will be smoother if you use a solicitor in Kimbolton especially if they are accustomed to such properties in Kimbolton.
I want to sublet my leasehold flat in Kimbolton. Conveyancing solicitor who did the purchase is retired - so can't ask him. Do I need to ask my freeholder for their consent?
Some leases for properties in Kimbolton do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord is not entitled to unreasonably withhold but, in such cases, they would need to review references. Experience suggests that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting consent.
I invested in buying a 2 bed flat in Kimbolton, conveyancing was carried out 3 years ago. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Similar flats in Kimbolton with a long lease are worth £191,000. The average or mid-range amount of ground rent is £55 invoiced annually. The lease ends on 21st October 2079
You have 54 years left to run we estimate the premium for your lease extension to range between £32,300 and £37,400 as well as legals.
The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs without more comprehensive due diligence. Do not use this information in tribunal or court proceedings. There are no doubt additional issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information before getting professional advice.
Do I cancel my mortgage payments with Skipton once a completion date for my home sale in Kimbolton has been set?
No, you should maintain meeting any mortgage payments to Skipton pending the mortgage being repaid from the proceeds of sale as part of your Kimbolton conveyancing.