I am in the throes of swapping over from my current residential mortgage to a BTL Virgin Money mortgage. I was told by my mortgage that I require a lawyer as part of the process. I spoke to my past Derbyshire conveyancing solicitor who who did the conveyancing when I first bought the premises. The costs illustration supplied of £450 plus VAT has surprised me as I am not require purchase conveyancing - it’s simply a straightforward remortgage.
The charges seem a tad high. If you are willing to expend time comparing quotes you might trim some of the cost by as much as £100 plus VAT. That being said, if you were pleased with the assistance the firm provided you maycome to regret opting for an an untested solicitor. Don't forget to be sure that the firm can represent Virgin Money. You can employ our search tool to locate a Derbyshire conveyancing firm on the Virgin Money conveyancing panel, which can often include conveyancing solicitors in Derbyshire.
Can you help? My Derbyshire conveyancer is assuring me that she is duty bound toconduct Derbyshire conveyancing searches asthe firm are on the Lloydsconveyancing panel. These Derbyshire checks cost a lot of money can this be avoided?
Unfortunately both you and your lawyer have little choice here. Given that you are taking out a loan with a mortgage company your conveyancer has to comply with their conditions as set out in their version of the CML Conveyancing Handbook. Your lawyer would have previously signed the Terms and Conditions of your lender’s conveyancing panel appointment which obliges them to comply with the Council of Mortgage Lenders’ Handbook specifications . Even if you were a cash buyer you would be ill advised not to carry out Derbyshire conveyancing searches.
What does my ID and proof of funds have anything to do with my conveyancing in Derbyshire? Why is this being asked of me?
It is indeed that case that the requirement set out by your lawyer has nothing to do with conveyancing in Derbyshire. However these days you can not proceed with any conveyancing deal in the absence supplying evidence of your identity. This usually takes the form of a either your passport or driving licence plus a utility bill. Please note that if you are supplying your driving licence as evidence of identification it needs to be both the paper section as well as the photo card part, one is not satisfactory in the absence of the other.
Proof of the origin of monies is necessary under Money Laundering Regulations. Please do not be offended when you are asked to produce this as your conveyancer must retain this information on file. Your Derbyshire conveyancing lawyer will need to see evidence of proof of funds prior to accepting any monies from you into their client account and they will also ask further queries concerning the origin of funds.
I am looking for a leasehold apartment up to £195,000 and found one round the corner in Derbyshire I like with amenity areas and railway links in the vicinity, however it only has 51 years unexpired on the lease. There is not much else in Derbyshire suitable, so just wondered if I would be making a grave error buying a short lease?
Should you require a mortgage the remaining unexpired lease term may be problematic. Discount the price by the expected lease extension will cost if it has not already been discounted. If the current proprietor has owned the property for at least 2 years you may request that they commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the current lease term with a zero ground rent applied. You should speak to your conveyancing lawyer concerning this matter.
I need to instruct a conveyancing solicitor for purchase conveyancing in Derbyshire. I have land on a site which appears to be the ideal answer If it is possible to get all the legals done via web that would be preferable. Do I need to be wary? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?