I have just started taking steps with the intention of porting my current residential loan to a BTL Yorkshire Building Society mortgage. I was told by my financial advisor that I must appoint a conveyancer as part of the process. I spoke to my previous Streatham conveyancing firm who who did the conveyancing when I originally bought the house. The quote issued of £450 plus VAT has surprised me as I am not require purchase conveyancing - it’s simply a straightforward remortgage.
The charges appear a little high. If you shop around you may be able to decrease the fees slightly by perhaps £100 plus VAT. That being said, assuming were content with the conveyancing the firm offered you couldlive to rue choosing an an untested solicitor. If is important to enquire that the solicitor can act for Yorkshire Building Society. Do use our search tool to get a quote a Streatham conveyancing firm on the Yorkshire Building Society conveyancing panel, which can often include conveyancing solicitors in Streatham.
We have rather assertive vendors who has insisted on a lock out contract with a down payment 10k. Are such agreements sensible?
There are a couple of primary concerns with signing a lock out contract (occasionally known as a no-shop agreement) is that it diverts attention away from progressing with the conveyancing work, so unless it requires minimal or no negotiation then it may turn out to be unhelpful. It is not strongly advocated amongst Streatham conveyancing solicitors for this reason. The other main negative is the extent of the remedies available - an aggrieved buyer is not likely to be granted injunctive relief to prohibit the vendor selling to another buyer, so the only remedy available under the contract will be the recovery of abortive costs and, in rare circumstances, the additional payment of damages.
I'm buying my first flat in Streatham with the aid of help to buy. The builders refused to move on the price so I negotiated five thousand pounds worth of additionals instead. The estate agent advised me not inform my conveyancer about the side-deal as it may affect my mortgage with the bank. Do I keep my lawyer in the dark?.
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 am looking for a flat up to £195,000 and found one round the corner in Streatham I like with amenity areas and station in the vicinity, however it's only got 49 years unexpired on the lease. I can't really find anything else in Streatham suitable, so just wondered if I would be making a mistake purchasing a lease with such few years left?
Should you require a mortgage that many years may be an issue. Discount the offer by the expected lease extension will cost if not already taken into account. If the current proprietor has owned the property for at least 2 years you could ask them to commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the current lease term with a zero ground rent applied. You should consult your conveyancing lawyer regarding this.
My husband and I are novice buyers - had an offer accepted, yet the selling agent has warned us that the vendor will only go ahead if we instruct their chosen solicitors as they want an ‘expedited deal’. My instinct tells me that we should use a local conveyancer used to conveyancing in Streatham
It is unlikely the sellers are driving this. If they require ‘a quick sale', alienating a genuine purchaser is counter productive. Avoid the agents and go straight to the owners and make sure they understand (a)you are genuine buyers (b)you are ready to progress, with mortgage lined up © you have nothing to sell (d) you wish to move quickly (e)but you intend to use your preferred Streatham conveyancing firm - rather thanthe ones that will give the estate agent a kickback or achieve conveyancing figures demanded by head office.