I am in the throes of transferring my current residential home loan to a Buy to Let Yorkshire Building Society mortgage. I was told by my financial advisor that I need a lawyer as part of the process. I had a chat my past Rhiwbina conveyancing practitioner who who conducted the conveyancing when I previously bought the house. The quote issued of £550 has surprised me as its a remortgage than a sale or purchase.
The estimate does seem a little on the high side. If you are prepared to spend time scrutinising prices you may be able to get the conveyancing a bit cheaper by say £100 plus VAT. On the other hand, if you were content with the conveyancing the firm gave you couldcome to rue opting for an a cheaper conveyancer. Remember to be sure the solicitor can represent Yorkshire Building Society. Do utilise our search tool to choose a Rhiwbina conveyancing firm on the Yorkshire Building Society member panel, which can often include conveyancing solicitors in Rhiwbina.
My nephew is about to exchange on a house that has just been built in Rhiwbina with a mortgage from Leeds Building Society. His solicitor has said that there is a delay in receiving the ‘Disclosure of Incentive Form’. Who needs to receive the form?
The document is intended to provide information to the main parties involved in the transaction. Therefore, it will be provided to your son’s lawyer who should be on the Leeds Building Society 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 Leeds Building Society conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
I am the registered owner of a freehold property in Rhiwbina but still charged rent, why is this and what is this?
It’s unusual for properties in Rhiwbina and has limited impact for conveyancing in Rhiwbina 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 many centuries, but the Rent Charge Act 1977 barred the creation of new rentcharges from 1977 onwards.
Previous rentcharges can now be redeemed by making a one off payment under the Act. Any rentcharges that are still in existence in 2037 is to be dispensed with completely.
There is lots of information on this site regarding conveyancing in Rhiwbina but what is your top tip for choosing the right conveyancer in Rhiwbina
It would be unwise to be seduced by the cheapest Rhiwbina conveyancing costs illustration. You really do get what you pay for when it comes to conveyancing solicitors. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you go into the conveyancing with your eyes wide open.
We had chosen solicitors located in Rhiwbina on the UBS solicitor approved list. They are now charging me a further amount for dealing with the UBS mortgage. Is this an additional conveyancing fee set by UBS?
Unfortunately, as long as it is in their Terms and Conditions or estimate then yes your solicitor may charge a fee for this. The charge is not dictated by UBS but by your Rhiwbina conveyancing practitioner. Numerous firms on the UBS panel will levy ’dealing with mortgage’ fee and others do not.
The mortgage over my property is with UBS for my property in Rhiwbina. Conveyancing was finalised some time 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 BTL mortgage or inform UBS?
Your original mortgage agreement with UBS will provide that you need their approval in advance of renting your property as this is likely to be a breach of UBS’s mortgage conditions. In many cases banks or building societies will allow you to rent 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 UBS directly. You need not do this via a UBS conveyancing panel lawyer.
I'm refinancing my primary house to a buy to let loan with Britannia and intend to use the remaining equity towards a second property. The area we are looking at is Rhiwbina. Will your lawyers be able to act for both sets of lenders and link together the transactions?
Do use our search tool on this site to check that the conveyancers are on the appropriate lender panels. Having checked that they are the lawyer will be able to tie up the two conveyancing matters but you should have a chat with you solicitor and make apparent your desired outcome and needs.