I am in the market for a low cost property lawyer. Do I opt for a nationwide conveyancer or a high street Downton conveyancing solicitor?
Existing third party relationships are another important factor to consider when appointing conveyancing lawyers. Downton law firms enjoy connections with mortgage brokers and property, local authorities, valuers and other conveyancing firms meaning you will move in shortest possible time. Possessing specialist knowledge of the local area is an advantage.
I am purchasing a brand new duplex in Downton and my lawyer is informing me that she is duty bound to the mortgage company to disclose incentives from the builder. I am on a tight deadline to exchange and I have no desire to delay matters. Is my lawyer right?
You should not exchange unless you have been advised to do so by your . A precondition to being on a mortgage company panel is to comply with the UK Finance Lenders’ Handbook specifications. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
We expect to receive a AIP from this week so we know how much we could potentially offer as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc). Do recommend any Downton solicitors on the conveyancing panel, or is it better to go independently?
You will need to appoint Downton solicitors independently although you'll need to choose one on the conveyancing panel. The solicitor represents both you and through the process.
I have paid off my mortgage with . I assume I don't need a Downton on the panel to discharge the mortgage at the Land Registry. Please confirm.
If you have finished paying off your 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 mortgage from the register. , 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 has sent the Land Registry the discharge electronically, and
- has instructed the Land Registry to do so
I have a mortgage with for my property in Downton. Conveyancing has been completed 12 months ago. If I am intending to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform ?
You must advise prior to letting out your property as this is likely to be a breach of ’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 directly. You need not do this via a conveyancing panel lawyer.
Over the last few months I have been searching for a leasehold apartment up to £235,500 and found one round the corner in Downton I like with a park and station in the vicinity, however it only has 49 years unexpired on the lease. I can't really find anything else in Downton in this price bracket, so just wondered if I would be making a mistake purchasing a short lease?
Should you need a mortgage the shortness of the lease will likely be problematic. Discount the offer by the expected lease extension will cost if not already taken into account. If the existing 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 existing lease with a zero ground rent applied. You should speak to your conveyancing solicitor concerning this matter.
We are thinking of choosing a web based as opposed to a Downton conveyancing practice. Am I making a mistake?
Advantages do exist in having the option pop in to a local Downton conveyancing solicitor such as
- signing documents and and when necessary
- often being able to see someone face-to-face can make a huge difference, particularly for non-standard house moves
- the ability to raise concerns if things go pear-shaped
When comparing quotes, look out for hidden extras. The majority decent Downton high street solicitors give an all-inclusive figure. Often online agents appear to offer cheap prices, yet have hidden 'extras' in the in the terms and conditions.