I am in the throes of transferring my current homeowner loan to a BTL Barclays mortgage. The bank has said that I must appoint a lawyer as part of the process. I had a chat my past Abingdon conveyancing practitioner who acted on my behalf when I previously acquired the property. The fee calculation issued of £550 has shocked me as I am not require purchase conveyancing - it’s simply a straightforward remortgage.
The estimate fees seem a tad high. Where you are happy to invest time scrutinising costs you might get the conveyancing a bit cheaper by perhaps £125. On the other hand, assuming were content with the conveyancing the firm provided you mightlive to regret opting for an an untested conveyancer. Don't forget to check the solicitor can also act for Barclays . You can employ our search tool to select a Abingdon conveyancing firm on the Barclays conveyancing panel, which can often include conveyancing solicitors in Abingdon.
Our mortgage company has suggested a law firm on their panel based in Abingdon but I would rather choose a conveyancing lawyer in Abingdon local to me. Are you able to assist?
Far from all Abingdon conveyancing practices are on all lender’s conveyancing panel. Use the above find an approved solicitor tool to identify a Abingdon conveyancing conveyancer on the on the bank panel.
Various web forums that I have frequented warn that are the primary cause of hinderance in Abingdon house deals. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) has noted the conclusions of a review by MoveWithUs that conveyancing searches do not figure within the most frequent causes of hindrances during the legal transfer of property. Searches are unlikely to feature in any holding up conveyancing in Abingdon.
Are there restrictive covenants that are commonly identified during conveyancing in Abingdon?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the legal transfer of property in Abingdon. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
Last December I purchased a leasehold house in Abingdon. Do I have any liability for service charges relating to a period prior to my ownership?
Where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I am the registered owner of a leasehold flat in Abingdon, conveyancing having been completed in 2000. Can you work out an approximate cost of a lease extension? Comparable flats in Abingdon with over 90 years remaining are worth £201,000. The ground rent is £45 charged once a year. The lease runs out on 21st October 2089
With only 65 years remaining on your lease we estimate the price of your lease extension to be between £13,300 and £15,400 plus costs.
The suggested premium range above a general guide to costs for extending a lease, but we cannot give you the actual costs without more comprehensive investigations. Do not use the figures in a Notice of Claim or as an informal offer. There may be other concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. Please do not move forward based on this information without first seeking the advice of a professional.