I have just started taking steps with a view to switching my existing standard mortgage to a BTL mortgage. I have been informed by my broker that I require a solicitor as part of the process. I had a chat my previous Lymington conveyancing firm who who completed the conveyancing when I first acquired the house. The quote provided of £575 plus disbursements has shocked me as its a refinance than a sale or purchase.

The costs illustration is slightly on the expensive side. If you are willing to expend time scrutinising charges you might reduce the fees slightly by perhaps £125. That being said, assuming were pleased with the legal work the firm gave you couldlive to rue choosing an an unknown conveyancer. Don't forget to be sure that the conveyancer can act for . Do make use of our search tool to find a Lymington conveyancing firm on the conveyancing panel, which can often include conveyancing solicitors in Lymington.

My nephew is about to exchange on a house that has just been built in Lymington with a home loan from . His solicitor has said that there is a delay in completing the ‘Disclosure of Incentive Form’. What is this document - I have never come across this before?

The document is intended to provide information to the main parties engaged in the purchase. Therefore, it will be provided to your son’s lawyer who should be on the conveyancing panel as a standard part of the process, and to the valuer when asked. The developer will be required to start the process by downloading the form and completing it. The form will therefore need to be available for the valuer at the time of his or her site visit. The form should be sent to the conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.

I own a freehold residence in Lymington but nevertheless charged rent, why is this and what is this?

It’s unusual for properties in Lymington and has limited impact for conveyancing in Lymington but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.

Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges have existed for hundreds of years, but the Rent Charge Act 1977 barred the establishment of fresh rentcharges from 1977 onwards.

Old rentcharges can now be extinguished by making a one off payment under the Act. Any rentcharges that are still in existence post 2037 is to be dispensed with completely.

Do I need to pay for insurance to protect me from financial exposure to chancel repairs when acquiring a house in Lymington?

Unless a prior purchase of the house took place post 12 October 2013 you may expect lawyers conducting conveyancing in Lymington to remain recommending a chancel search and or insurance against a claim.

I dont have enough spare money to pay a 10% deposit on my house purchase in Lymington , but I am keen proceed. What can I do?

One option is to try and accept a lesser deposit. Many property owners will agree to a lower deposit or even no deposit for a first time buyer or 100% mortgage. Be aware though that if you fail to complete you will still need to hand over a minimum of 10% of the purchase price regardless of how much deposit was agreed.

You can also agree a simultaneous exchange and completion as no deposit is required for this however neither party will be tied in until completion actually takes place and it can be risky if sellers change their mind at the last moment