I am in the throes of changing my current homeowner mortgage to a BTL Halifax mortgage. The bank has said that I require a lawyer for this. I had a chat my past Somersham conveyancing solicitor who who completed the conveyancing when I first bought the property. The costs illustration sent of just over five hundred pounds is an eye-watering amount to do this as its a refinance than a sale or purchase.
The estimate does seem a tad steep. Where you are willing to expend time scrutinising charges you could decrease the fees marginally by say £125. On the other hand, assuming were happy with the legal work the firm gave you mightlive to rue choosing an an untested conveyancer. Don't forget to ensure the conveyancer can act for Halifax. Do employ our search tool to locate a Somersham conveyancing firm on the Halifax approved list of lawyers, which can often include conveyancing solicitors in Somersham.
My bid for a property was accepted at auction in Somersham. Conveyancing is needed. What are my next steps?
Now that you have to in every practical sense signed on the dotted line you will need to find a conveyancing lawyer quickly as you are facing a fast approaching a fixed date to complete the transaction. An auction property will have an associated legal set of papers. This should include most,if not all of the documents that your lawyer will need. If you have purchased leasehold property the conveyancing papers should include a copy of the lease, management information and a sellers leasehold information form and associated conveyancing documentation relating to a leasehold property. You must give this to the solicitor instructed by you at the earliest opportunity. You also need to ensure that you have funds in place to complete on the on the contractual date .
I currently have a mortgage with Principality for my property in Somersham. 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 Principality?
You must advise Principality prior to renting your property as this is likely to be a breach of Principality’s mortgage conditions. In many cases banks or building societies will allow you to rent 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 Principality directly. It should not be necessary to do this via a Principality conveyancing panel lawyer.
After weeks of negotiation I have agreed a price on an apartment in Somersham. My financial adviser recommended their conveyancers. I paid an on account payment of £225. A couple of days later, the conveyancer contacted me sheepishly admitting that they were not on the Nationwide conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Nationwide panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
We are downsizing from our home in Somersham and the buyers lawyers are claiming that there is a possibility that the property was constructed land that was not decontaminated. A high street Somersham conveyancer would know that there is no such problem. It does beg the question why the purchasers used a factory type conveyancing outfit rather than a conveyancing solicitor in Somersham. We have lived in Somersham for 4 years we know of no issue. Do we get in touch with our local Authority to obtain confirmation that there is no issue.
It would appear that you have a conveyancing firm currently acting for you. Are they able to advise? You must check with your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same sickness)
How does conveyancing in Somersham differ for newly converted properties?
Most buyers of new build residence in Somersham come to us having been asked by the developer to sign contracts and commit to the purchase even before the residence is finished. This is because developers in Somersham typically acquire the real estate, 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 accustomed to new build conveyancing in Somersham or who has acted in the same development.
I have been recommended by three or four local selling agents in Somersham to locate a solicitor on your site. Is there a financial upside for Estate Agents to market your site ahead of a competitor’s?
We refuse to give any commission for directing people in our direction. We thought it would be too underhand to pay a commission as a client could think, ‘How come the agent getting a kickback? Why aren’t I getting any benefit too?’ So we decided to step away from that.