I have just started taking steps with the intention of changing my current homeowner loan to a BTL Halifax mortgage. I was told by my mortgage that I must appoint a lawyer for this. I had a chat the same Burghfield Common conveyancing practitioner who who did the conveyancing when I previously acquired the premises. The fee calculation e-mailed to me of £575 plus disbursements has taken me by surprise as its a refinance than a sale or purchase.
The costs illustration is slightly on the high side. If you shop around you could get the conveyancing a bit cheaper by as much as £100 plus VAT. That being said, providing that you were content with the service the firm provided you maylive to regret choosing an a cheaper conveyancer. Don't forget to check that the conveyancer can represent Halifax. Do utilise our search tool to locate a Burghfield Common conveyancing firm on the Halifax approved list of lawyers, which can often include conveyancing solicitors in Burghfield Common.
I purchased a freehold property in Burghfield Common yet invoiced for rent, why is this and what is this?
It is rare for properties in Burghfield Common and has limited impact for conveyancing in Burghfield Common but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges have existed for hundreds of years, but the Rent Charge Act 1977 barred the establishment of fresh rentcharges post 1977.
Old rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence post 2037 will be dispensed with completely.
Do I need to pay for insurance to cover chancel repairs when purchasing a residence in Burghfield Common?
Unless a previous purchase of the premises completed post 12 October 2013 you could take it that conveyancing practitioners handling conveyancing in Burghfield Common to remain recommending a chancel search and or chancel repair liability insurance.
How does conveyancing in Burghfield Common differ for new build properties?
Most buyers of new build premises in Burghfield Common approach us having been asked by the builder to sign contracts and commit to the purchase even before the premises is ready to move into. This is because house builders in Burghfield Common tend to purchase 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 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 accustomed to new build conveyancing in Burghfield Common or who has acted in the same development.
My wife and I are acquiring a ground floor flat in Burghfield Common. When we first instructed solicitor, they told us that they were on all mainstream lender panels. Our mortgage broker contacted us just now to say that they are not on the Yorkshire BS approved list. Should that be true, what should we do? Should we just find a different conveyancer that is on their approved list or should we cover the costs for separate representation, with Yorkshire BS selecting their own approved conveyancing practitioner.
When acquiring a property with mortgage finance it is standard for the purchaser’s solicitors to also represent the mortgage company. In order to act for a bank or building society a conveyancing practitioner has to be on that lender's list of approved lawyers. An application has to be made by the conveyancer to the lender to become a member of the lender's panel and there are increasingly strict criteria which the lawyer has to meet. Some mortgage companies now insist their panel members to be part of the Law Society’s Conveyancing Accreditation Scheme. Your solicitor should contact Yorkshire BS to find out if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own lawyers to represent them. You are not legally obliged to appoint a law firm on Yorkshire BS's conveyancing panel as you are at liberty to use your preferred Burghfield Common lawyers, in which case it will likely add costs, and it will likely delay the transaction as you are adding another property lawyer into the mix.