I have just started taking steps with the aim of transferring my domestic mortgage to a Buy to Let Yorkshire Building Society mortgage. I have been informed by my broker that I need a solicitor for this. I spoke to my past Archway conveyancing firm who acted on my behalf when I originally bought the premises. The fee calculation sent of £500 has shocked me as its a refinance than a sale or purchase.

The estimate does seem a tad overpriced. If you are prepared to invest time contrasting charges you could get the conveyancing a bit cheaper by as much as £125. On the other hand, if you were happy with the service the firm gave you maycome to rue choosing an a cheaper lawyer. Don't forget to be sure that the firm can represent Yorkshire Building Society. Do employ our search tool to choose a Archway conveyancing firm on the Yorkshire Building Society member panel, which can often include conveyancing solicitors in Archway.

Are the BSA intent on creating a online directory to to identify solicitors on the Loughborough BS conveyancing panel for example in Archway?

We have not been informed any intention on the part of the BSA to develop such a tool.

How does conveyancing in Archway differ for newly converted properties?

Most buyers of new build property in Archway approach us having been asked by the housebuilder to sign contracts and commit to the purchase even before the property is constructed. This is because builders in Archway typically purchase the land, 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 conveyancing solicitors 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 Archway or who has acted in the same development.

I opted to have a survey carried out on a house in Archway ahead of instructing solicitors. I have been informed that there is a flying freehold overhang to the house. The surveyor advised that some mortgage companies tend not issue a mortgage on a flying freehold property.

It varies from the lender to lender. Lloyds has different instructions from Halifax. If you contact us we can investigate further via the appropriate lender. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Archway. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Archway to see if the conveyancing costs will increase in light of this.

I have miscalculated my finances and am a couple of grand short a 10% deposit on my house purchase in Archway , but I am anxious exchange. Do I have options?

One option is to try and agree a lesser deposit. Most property owners will accept a smaller deposit or even no deposit for a first time buyer or 100% mortgage. Be aware though that if you fail to complete you will still need to hand over a minimum of 10% of the purchase price regardless of how much deposit was agreed.

You can also agree a simultaneous exchange and completion as no deposit is required for this however neither party will be tied in until completion actually takes place and it can be risky if sellers change their mind at the last second