I am in the throes of transferring my existing standard loan to a BTL Lloyds TSB Bank mortgage. The bank has said that I must appoint a conveyancer for this. I got in contact with the same Lymington conveyancing practitioner who who conducted the conveyancing when I initially bought the house. The costs illustration e-mailed to me of £450 plus VAT has taken me by surprise as its a refinance than a sale or purchase.

The charges seem a little high. If you are content to spend time comparing quotes you may be able to trim some of the expense by as much as a hundred pounds. That being said, if you were content with the service the firm gave you maylive to rue choosing an a cheaper solicitor. Remember to ensure that the conveyancer can act for Lloyds TSB Bank. You can employ our search tool to choose a Lymington conveyancing firm on the Lloyds TSB Bank conveyancing panel, which can often include conveyancing solicitors in Lymington.

What is the difference between a licensed conveyancer and conveyancing solicitor in Lymington

There are many registered licenced Conveyancers in Lymington and Solicitor partnerships in Lymington to choose from It is important to make clear that the two are regulated professionals specialising in the legal work in the home buying process. The two can deal with associated property related work such as remortgage conveyancing, enfranchisement and transfer of equity conveyancing.

I am purchasing a end of terrace house in Lymington. The intention is to carry out a loft conversion at the house.Will the conveyancing process include enquiries to see if these works are permitted?

Your property lawyer should review the registered title as conveyancing in Lymington can occasionally identify restrictions in the title deeds which prevent categories of changes or necessitated the consent of another owner. Some extensions require local authority planning permissions and approval under the building regulations. Some locations are designated conservation areas and special planning restrictions apply which frequently prevent or impact extensions. It would be prudent to check these things with a surveyor ahead of any purchase.

When it comes to mortgage companies such as HSBC, do Lymington lawyers face a yearly amount to be on the conveyancing panel?

We are not aware of any bank fees to be on their list of approved firms, although some do charge an administration charge to deal with the processing of the conveyancing panel application.

Is it necessary to pay for insurance to cover chancel repairs when purchasing a property in Lymington?

Unless a prior purchase of the house took place after 12 October 2013 you could take it that conveyancing practitioners handling conveyancing in Lymington to continue to advocate a chancel search and or insurance against a claim.

2 months have gone by since my purchase conveyancing in Lymington took place. I have checked the Land Registry site which shows that I paid £175,000 when infact I paid £170,000. Why the discrepancy?

The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the asset from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.

We own a leasehold flat in Lymington. Conveyancing was completed in 21012. I have read on a number of advice forums that I mustn’t allow the lease length fall too short. What is the reasoning?

Lymington residential long term leases are for a fixed period - usually ninety nine years when they are first granted. However a significant appartments in Lymington were built or converted 35 or more years ago and so these leases now have under eighty years unexpired. This may sound like plenty of time however Banks, Building Societies and other mortgage institutions on the whole require leases to have a minimum of 75 years remaining to be mortgageable. This means that when you come to sell the property you will need a lease extension if you are getting close to eighty years. To increase the marketability of your property you should be thinking about whether or not to extend your lease long before you come to sell it. You should note that there are significant benefits to taking action before the lease hits eighty years as when the lease is below eighty years the amount you have to pay to extend starts to increase.