I am in the throes of swapping over from my current residential mortgage to a Buy to Let Clydesdale mortgage. The bank has said that I require a solicitor as part of the process. I spoke to my former Hook Norton conveyancing solicitor who who did the conveyancing when I originally purchased the house. The quote e-mailed to me of £450 plus VAT has surprised me as its a remortgage than a sale or purchase.
The estimate does seem a tad on the high side. If you are content to spend time contrasting quotes you could shave off some of the expense by say a hundred pounds. On the other hand, if you were satisfied with the conveyancing the firm provided you maylive to rue opting for an an untested lawyer. If is important to check the conveyancer can represent Clydesdale. You can use our search tool to find a Hook Norton conveyancing firm on the Clydesdale approved list of lawyers, which can often include conveyancing solicitors in Hook Norton.
My lawyer in Hook Norton has never been on on the Aldermore Conveyancing Panel. Is it possible for me to retain my prefered solicitor even though they are not on the Aldermore panel of approved conveyancing solicitors?
Your options are as follows:
- Complete the purchase with your preferred Hook Norton lawyers but Aldermore will need to retain a lawyer on their panel. This will result in additional overall conveyancing charges as well as cause delays.
- Get an alternative lawyer to act in the conveyancing, not forgetting to check they are Aldermore approved.
- Persuade your Aldermore based solicitor to attempt to join the Aldermore panel
four months have gone by since my purchase conveyancing in Hook Norton took place. I have checked the Land Registry site which shows that I paid £175,000 when infact I paid £170,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the premises from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
What makes a Hook Norton lease defective?
Leasehold conveyancing in Hook Norton is not unique. All leases are drafted differently and drafting errors can sometimes mean that certain clauses are erroneous. The following missing provisions could result in a defective lease:
-
Maintenance charge proportions which don’t add up to the correct percentage
A defective lease can cause problems when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Accord Mortgages Ltd, The Royal Bank of Scotland, and Alliance & Leicester all have express requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to grant the mortgage, obliging the buyer to pull out.
I bought a studio flat in Hook Norton, conveyancing having been completed half a dozen years ago. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Similar flats in Hook Norton with an extended lease are worth £195,000. The average or mid-range amount of ground rent is £45 per annum. The lease comes to an end on 21st October 2087
With just 63 years left to run we estimate the premium for your lease extension to range between £16,200 and £18,600 as well as professional fees.
The figure that we have given is a general guide to costs for extending a lease, but we are not able to provide a more accurate figure in the absence of comprehensive due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There may be additional concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information before getting professional advice.
I am buying a ground floor maisonette in Hook Norton. Conveyancing lawyer is awaiting, from the owner, building insurance documents. This afternoon I was informed that the owner must send the insurance paperwork for the flat above also. Why would my conveyancer want to check the insurance for the other flat? Is it strictly required? We have been waiting for the previous month…
It is not unheard of in leasehold conveyancing in Hook Norton to find Conveyancing in Hook Norton in a minority of cases reveals that the lease obliges the tenant's to insure their individual flats as opposed to the freeholder insuring the entire property - which is clearly preferable. Do clarify with your conveyancing practitioner but it would seem that your conveyancing practitioner is looking to verify that the entire building is insured. Insuring your apartment is no help when it comes to rebuilding after a fire if the 1st floor cannot be reinstated as a result of lack of insurance cover.