I have just started taking steps with a view to porting my domestic mortgage to a Buy to Let Barclays mortgage. I was told by my mortgage that I need a lawyer for this. I spoke to the same Downend conveyancing firm who dealt with the legals when I previously bought the property. The fee calculation they've given of £450 plus VAT is surprising as I am not require purchase conveyancing - it’s just a bog-standard refinance.
The estimate does seem a little overpriced. If you you were to look around you may be able to get the conveyancing a bit cheaper by perhaps a hundred pounds. On the other hand, if you were pleased with the assistance the firm provided you couldcome to regret opting for an a cheaper solicitor. Don't forget to ensure that the solicitor can represent Barclays . Do employ our search tool to choose a Downend conveyancing firm on the Barclays member panel, which can often include conveyancing solicitors in Downend.
Will my conveyancing lawyers need to check that the building insurance for my purchase of a house in Downend. My lender is Bank of Ireland
Bank of Ireland have specific requirements as set out in the UK Finance Lenders’ Handbook. As of 25/11/2020, the requirements read as follows :
What is the difference between a licensed conveyancer and conveyancing solicitor in Downend
There are many registered licenced Conveyancers in Downend and Solicitor partnerships in Downend offering conveyancing We would stress that the two are regulated professionals specialising in the legal aspects of the home buying process. The two can handle associated property related work such as remortgage conveyancing, enfranchisement and transfer of equity conveyancing.
I currently have a mortgage with Leeds Building Society for my property in Downend. Conveyancing has been completed some time ago. Should I wish to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Leeds Building Society?
Leeds Building Society must be informed of your intention prior to letting out your property as this is likely to be a breach of Leeds Building Society’s mortgage conditions. In many cases banks or building societies will permit you to let out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Leeds Building Society directly. You need not do this via a Leeds Building Society conveyancing panel lawyer.
Having read lots of mortgage guides, I note that it is considered advisable to get your house surveyed prior to buying it. When I asked my local Downend solicitor - who is on the Nationwide conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. is that correct?
Nationwide will need an independent valuation of the property. Your lawyer will not arrange this. Usually Nationwide will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. Your conveyancing practitioner will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by your Downend postcode. As you are getting a mortgage with Nationwide, you could contact them to see if they have a list of approved surveyors in Downend.
Yesterday I discovered that there is a flying freehold element on a house I have offered on two weeks back in what should have been a simple, no chain conveyancing. Downend is the location of the property. Can you offer any assistance?
Flying freeholds in Downend are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Downend you would need to get your solicitor to go through the deeds thoroughly. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Downend may decide 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 residence.
My dad completed his conveyancing in Downend eight years ago. He has got married, widowed and has recently remarried. He now intends to dispose of the Downend property. I believe he will just be requested to provide a copy of his marriage certificates to the lawyer but he is worried it could frustrate the sale of the apartment. Should he instruct a property lawyer to update the title documents for the property?
It is not absolutely necessary to bring up to date the register as long as you have the proof needed to demonstrate how the name change has come about.
Any buyer’s lawyer should review the land registry information and request evidence by way of proof of the name change for example marriage documentation.