I am in the throes of porting my current residential loan to a Buy to Let Virgin Money mortgage. I have been informed by my broker that I need a conveyancer as part of the process. I had a chat the same Burford conveyancing practitioner who dealt with the legals when I initially bought the house. The costs estimate supplied of £500 is an eye-watering amount to do this as its a remortgage than a sale or purchase.
The estimate fees appear a bit high. Where you are content to invest time comparing quotes you could get the conveyancing a bit cheaper by perhaps a hundred pounds. That being said, if you were happy with the service the firm gave you couldcome to rue opting for an a cheaper lawyer. Don't forget to be sure the conveyancer can act for Virgin Money. Do utilise our search tool to find a Burford conveyancing firm on the Virgin Money member panel, which can often include conveyancing solicitors in Burford.
What is the best way to investigate if the solicitor handling my conveyancing in Burford is on the lender’sconveyancing panel? I am looking to avoid the situation of having one lawyer for me and one for Coventry Building Society thus paying £187.00 plus VAT in further legal charges.
Please do take advantage of the search tool on this page. Pick the mortgage company and type ‘Burford’ or your preferred area and you will see a number of lawyer located in Burford or by proximity to you.
How does conveyancing in Burford differ for newly converted properties?
Most buyers of new build property in Burford approach us having been asked by the developer to exchange contracts and commit to the purchase even before the premises is finished. This is because new home sellers in Burford typically acquire 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 property lawyers 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 Burford or who has acted in the same development.
I am looking for a ground for flat up to £245,000 and identified one round the corner in Burford I like with a park and railway links nearby, however it's only got 49 years unexpired on the lease. I can't really find anything else in Burford for this price, so just wondered if I would be making a grave error acquiring a lease with such few years left?
If you require a home loan the shortness of the lease may be problematic. Reduce the offer by the amount the lease extension will cost if not already taken into account. If the existing proprietor has owned the premises for at least twenty four months you could request that they start the process of the extension and pass it to you. You can add 90 years to the current lease term and have £0 ground rent by law. You should consult your conveyancing lawyer concerning this matter.
Should I use a Burford conveyancing lawyer based in the vicinity that I am purchasing? I have an old university friend who can execute the conveyancing however his firm is located over three hundred kilometers drive away.
The benefit of a high street Burford conveyancing firm is that you can attend the office to sign paperwork, hand in your ID and apply pressure on them if necessary. They will also have local intelligence which is a plus. That being said nothing is more important than finding someone that will do a good and efficient job. If other friends have instructed your friend and they were happy that should trump using an unfamiliar Burford conveyancing lawyer solely due to them being based in the area.