I am in the throes of swapping over from my current homeowner home loan to a BTL Virgin Money mortgage. The bank has said that I must appoint a conveyancer as part of the process. I spoke to my former Pitstone conveyancing practitioner who who did the conveyancing when I initially purchased the premises. The fee estimate supplied of £500 has shocked me as I am not require purchase conveyancing - it’s just a bog-standard refinance.
The quote is fractionally on the expensive side. If you are content to spend time comparing costs you may be able to trim some of the cost by perhaps £100 plus VAT. That being said, if you were pleased with the conveyancing the firm offered you maylive to regret opting for an a cheaper conveyancer. Remember to check the firm can also act for Virgin Money. You can make use of our search tool to locate a Pitstone conveyancing firm on the Virgin Money approved list of lawyers, which can often include conveyancing solicitors in Pitstone.
A relative recommended that if I am buying in Pitstone I should carry out a Neighbourhood, Planning and Local Amenity Search. What does it cover?
A search of this type is occasionally included in the estimate for your Pitstone conveyancing searches. It is not a small document of more than thirty pages, listing and detailing important information about Pitstone around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average House Prices, Crime statistics, Pitstone Education with maps and statistics, Local Amenities and other useful information concerning Pitstone.
How does conveyancing in Pitstone differ for new build properties?
Most buyers of new build or newly converted property in Pitstone approach us having been asked by the developer to sign contracts and commit to the purchase even before the house is ready to move into. This is because developers in Pitstone usually purchase the real estate, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Pitstone or who has acted in the same development.
I'm remortgaging my primary house to a BTL mortgage with Barnsley Building Society and I will use the ballance of the raised equity towards further house. The location we are looking at is Pitstone. Will your conveyancers be able to act for the two banks and tie in the transactions?
Make use of our comparison tool on this site to ensure that the solicitors are approved by both lenders. On the basis that they are the lawyer should be able to connect the two conveyancing matters but you should have a chat with you conveyancer and communicate your desired outcome and needs.
I only have 72 years unexpired on my flat in Pitstone. I now wish to get lease extension but my freeholder is absent. What are my options?
On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be extended by the magistrate. You will be obliged to demonstrate that you or your lawyers have used your best endeavours to locate the landlord. In some cases an enquiry agent would be helpful to try and locate and to produce a report which can be used as proof that the landlord is indeed missing. It is wise to seek advice from a property lawyer in relation to proving the landlord’s absence and the vesting order request to the County Court covering Pitstone.
I inherited a 1 bedroom flat in Pitstone, conveyancing was carried out half a dozen years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Similar flats in Pitstone with an extended lease are worth £197,000. The ground rent is £55 invoiced annually. The lease terminates on 21st October 2078
With just 55 years left to run we estimate the price of your lease extension to be between £31,400 and £36,200 as well as legals.
The figure above a general guide to costs for renewing a lease, but we cannot give you the actual costs without more detailed due diligence. Do not use the figures in tribunal or court proceedings. There may be additional issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information without first getting professional advice.