I have just started taking steps with the intention of swapping over from my existing standard home loan to a BTL The Royal Bank of Scotland mortgage. The bank has said that I require a lawyer as part of the process. I had a chat my previous Lound conveyancing practitioner who who did the conveyancing when I originally acquired the property. The costs illustration provided of £575 plus disbursements is an eye-watering amount to do this as I am not require purchase conveyancing - it’s simply a bog-standard refinance.
The estimate fees appear a tad high. If you shop around you may be able to reduce the fees slightly by perhaps £100 plus VAT. That being said, providing that you were pleased with the service the firm offered you maycome to regret opting for an an unknown solicitor. Don't forget to ensure that the solicitor can act for The Royal Bank of Scotland. You can utilise our search tool to find a Lound conveyancing firm on the The Royal Bank of Scotland approved list of lawyers, which can often include conveyancing solicitors in Lound.
Our solicitor has identified a a problem with the lease for the flat we are purchasing in Lound. The other side have offered defective title insurance as a workaround. We are happy with insurance and will cover the costs. Our lawyer says that he must ensure that the bank is happy with this solution. Are we the client or is the mortgage company ?
The short answer to your last question is that, notwithstanding the risk of a conflict of interest, you and the bank are the client. Your lawyer must comply with the UK Finance Lenders’ Handbook conditions. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects with the lease so that the bank can be afforded the opportunity to check with their valuer as to the extent that the value of the property is affected. Should you refuse to allow your lawyer to make the appropriate notification then your conveyancer will have no choice but to discontinue acting for you.
We note that you have a post code search directory identifying firms on the Skipton conveyancing panel. Do companies pay you a commission if I appoint them for our own conveyancing in Lound?
We are a listing service only for law firms wishing to communicate if they are on the Skipton conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Lound.
Have purchased a a terraced house in Lound , how long should it take for the Land Registry to deal with the formalities evidencing my title? My Lound conveyancing solicitor works at snail pace, so I want to be sure the registration is addressed.
There is nothing unique about conveyancing in Lound registration formalities. As opposed to being determined by geographic area, timeframes can adjust according to the party submitting the application, whether there are errors and whether the Land registry have to notify any third persons or bodies. As of today in the region of three quarters of such applications are fully addressed in less than three weeks but occasionally there can be protracted delays. Historically registration takes place once the purchaser is living at the property so 'speed' is not usually primary concern but where it is urgent that the the registration takes place urgently then you or your lawyers could communicate with the Registry to express the reasoning for the application to be prioritised.
Yesterday I discovered that there is a flying freehold issue on a house I put an offer in a fortnight ago in what should have been a simple, no chain conveyancing. Lound is the location of the property. Can you offer any assistance?
Flying freeholds in Lound are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Lound 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 Lound 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 premises.