I am told that my conveyancing solicitors will need to check that the building insurance when buying a house in Byfleet. My lender is Tesco Bank
Tesco Bank have specific requirements as set out in the UK Finance Lenders’ Handbook. As of 9/12/2018, the requirements read as follows :
I happen to be the single recipient of my late mum's will and I have everything in my name alone, including the house in Byfleet. The Byfleet property was put into my name in November. I plan to dispose of the house. I understand that there is a CML 6 month 'rule', which means that my property ownership will be considered the same way as though I had purchased the house in November. Will no one buy the property for half a year?
The CML handbook obliges solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you could be affected by that. How sensible a view mortgage companies take of it, depend on the bank as this clause principally exists to pick up on subsales or the wholesaling and assigning of property.
We had appointed solicitors locally in Byfleet on the Santander solicitor approved list. They have just invoiced me an additional charge for the legal aspects of the Santander mortgage. Is this a supplemental conveyancing fee set by Santander?
As unfair as it may appear, as long as it’s in their Terms and Conditions or estimate then yes your conveyancing practitioner may levy a fee for this. The fee is not set by Santander but by your Byfleet conveyancer. Some firms on the Santander panel will levy ’dealing with mortgage’ fee and others do not.
I have paid off my mortgage with Virgin Money. I assume I don't need a Byfleet solicitor on the Virgin Money panel to remove the mortgage at the Land Registry. Am I right?
If you have finished paying off your Virgin Money mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Virgin Money mortgage from the register. Virgin Money, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Virgin Money has sent the Land Registry the discharge electronically, and
- Virgin Money has instructed the Land Registry to do so
I've recently found out that there is a flying freehold element on a property I put an offer in a fortnight ago in what should have been a quick, chain free conveyancing. Byfleet is the location of the property. What do you suggest?
Flying freeholds in Byfleet are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Byfleet you would need to get your solicitor to go through the deeds diligently. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Byfleet may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.
Is there anything unique about your site and other online quote calculators when it comes to conveyancing in Byfleet?
At this site secure a fixed fee costs illustration via a Solicitor or Licensed Conveyancer that appreciates the nuances of your conveyancing in Byfleet. As opposed to estate agents and brokerage sites we do not operate referral deals with solicitors. Many agents and online brokers 'recommend' solicitors paying the highest commission, as opposed to the best value conveyancing in Byfleet
Our conveyancer has advised that he intends to complete and exchange simultaneously on the sale of our £225,000 flat in Byfleet next week. The landlords agents has quoted £348 for Landlord’s certificate, building insurance schedule and previous years service charge statements. Is the landlord entitled to charge such fees for a leasehold conveyance in Byfleet?
Byfleet conveyancing on leasehold flats usually necessitates the buyer’s conveyancer submitting questions for the landlord to address. Although the landlord is under no legal obligation to answer such questions the majority will be willing to assist. They are at liberty to levy a reasonable administration fee for responding to questions or supplying documentation. There is no set fee. The average fee for the paperwork that you are referring to is £350, in some transactions it is in excess of £800. The management information fee invoiced by the landlord must be sent together with a summary of rights and obligations in relation to administration fees, without which the invoice is technically not due. In reality you have no choice but to pay whatever is demanded should you wish to exchange contracts with the buyer.
Leasehold Conveyancing in Byfleet - Sample of Questions you should ask before Purchasing
How is the lease structured? Are any of leasehold owners in dispute over their service charge payments? Best to be warned whether fixing the lift or some other major work is pending to be shared by the tenants and could well materially increase the the maintenance fees or require a one off payment.