I am in the throes of swapping over from my current residential mortgage to a Buy to Let Birmingham Midshires mortgage. I have been informed by my broker that I need a lawyer as part of the process. I got in contact with my past Staffordshire conveyancing practitioner who acted on my behalf when I originally acquired the premises. The costs illustration issued of £500 has shocked me as I am not require purchase conveyancing - it’s simply a straightforward remortgage.
The costs illustration is fractionally on the steep side. If you you were to look around you may be able to decrease the fees slightly by say £100 plus VAT. On the other hand, assuming were pleased with the legal work the firm gave you maycome to rue opting for an an unknown conveyancer. Don't forget to be sure the firm can also act for Birmingham Midshires. Do use our search tool to choose a Staffordshire conveyancing firm on the Birmingham Midshires conveyancing panel, which can often include conveyancing solicitors in Staffordshire.
Having spent time reviewing consumer advice sites for a high-quality lawyer in Staffordshire, many comment that I must use a CQS kitemarked lawyer. What is CQS?
Staffordshire Conveyancing Quality Scheme practices have obtained accreditation by the law Society CQS was created to establish evidence of quality standards in the home moving process. CQS helps buyers and sellers to recognise solicitor firms that provide a quality residential conveyancing. Staffordshire is one of locations in England and Wales in which accredited firms are based. The conveyancing scheme requires practices to undergo a strict assessment, compulsory training, self-certification, spot checks and annual reviews in order to maintain CQS status. It is available to solicitors and not licensed conveyancers and has the support of the Council of Mortgage Lenders.
There are numerous conveyancing solicitors in Staffordshire but how do I know who's good?
It would be unwise to be seduced by the lowest Staffordshire conveyancing costs illustration. You really do get what you pay for when it comes to property lawyers. 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 know exactly what you’ll have to pay in ahead of time.
I am the single recipient of my late grandmother’s will with all property in now in my sole name, including the my former home in Staffordshire. Conveyancing formalities meant that the Land Registry date was in November. I want to move. I understand that there is a Mortgage Lenders 6 month 'rule', meaning my property ownership could be considered the same way as if I'd bought the house in November. Is the property unsalable for six months?
The CML handbook obliges conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you may be impacted by that. How sensible a view mortgage companies take of it, depend on the bank as this obligation chiefly exists to capture subsales or the wholesaling and assigning of property.
Completion of my remortgage has taken place for my property in Staffordshire. Conveyancing was a necessary evil but I feel I should register my dissatisfaction about the lender. Who do I contact should I wish to lodge a complaint?
Almost all banks and building societies have complaints procedures. Your first port of call should be one of the lender’s branches or the Customer Care Team at head office. Ordinarily complaints to a lender are sorted out effectively and efficiently. If you feel the matter is not resolved you can write to Financial Ombudsman Service who will take matters further.
I am purchasing my first flat in Staffordshire with a mortgage from Barclays Direct. The developers refused to budge the price so I negotiated five thousand pounds worth of extras instead. The estate agent suggested that I not disclose to my conveyancer about this extras as it may affect my mortgage with the bank. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I've recently bought a leasehold house in Staffordshire. Am I liable to pay service charges relating to a period prior to completion of my purchase?
Where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
Leasehold Conveyancing in Staffordshire - A selection of Queries Prior to buying
It would be sensible to discover as much as you can regarding the managing agents as they will either make your living at the property much simpler or uncomfortable. Being a leasehold owner you will be in the clutches of the managing agents from a financial perspective and when it comes to every day issues like the cleanliness of the communal areas. Don't be shy to ask other people whether they are happy with them. Finally, investigate as to the dates that the maintenance charges are due to the managing agents and specifically what it includes. Where a Staffordshire lease has fewer than 80 years it will have adverse implications on the marketability of the apartment. Check with your mortgage company that they are willing to to proceed given the lease term. A short lease means that you will probably have to extend the lease sooner rather than later and you need to have some idea of how much this will be. For most Staffordshirelease extensions you will need to own the residence for 24 months before you are eligible to exercise a lease extension. Can you inform me if there are any major works anticipated that could add a premium to the maintenance costs?