I am in the throes of switching my existing standard loan to a BTL Britannia mortgage. I have been informed by my broker that I must appoint a lawyer as part of the process. I got in contact with my previous Wollaston conveyancing practitioner who who completed the conveyancing when I initially purchased the premises. The fee estimate sent of £550 is an eye-watering amount to do this as I am not require purchase conveyancing - it’s simply a bog-standard refinance.
The estimate does seem a little on the high side. If you you were to look around you could reduce the fees marginally by perhaps £100 plus VAT. That being said, providing that you were pleased with the service the firm offered you maylive to rue opting for an an unknown solicitor. If is important to enquire that the firm can represent Britannia. Do employ our search tool to select a Wollaston conveyancing firm on the Britannia conveyancing panel, which can often include conveyancing solicitors in Wollaston.
I purchased a freehold residence in Wollaston yet invoiced for rent, why is this and what is this?
It’s unusual for properties in Wollaston and has limited impact for conveyancing in Wollaston 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.
Old rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence after 2037 is to be dispensed with completely.
My property lawyer in Wollaston is not listed on the Barnsley Building Society Approved Panel. Can I still retain my family solicitor even though they are not on the Barnsley Building Society approved list?
Your options are as follows:
- Carry on with your existing Wollaston solicitors but Barnsley Building Society will need to use a lawyer on their list of acceptable firms. This will inevitably rack up the total legal fees and result in frustration.
- Get an alternative lawyer to act in the conveyancing, remembering to check they are Persuade your lawyer to do everything within their powers to join the Barnsley Building Society conveyancing panel
I am looking for a flat up to £305k and found one close by in Wollaston I like with a park and transport links nearby, however it only has 52 years unexpired on the lease. I can't really find anything else in Wollaston in this price bracket, so just wondered if I would be making a mistake purchasing a short lease?
Should you need a home loan the remaining unexpired lease term may be an issue. Reduce the price by the amount the lease extension will cost if it has not already been discounted. If the current owner has owned the property for a minimum of 2 years you could ask them to commence the lease extension formalities and pass it to you. You can add 90 years to the existing lease term and have £0 ground rent by law. You should consult your conveyancing lawyer regarding this matter.
I previously informed by my mortgage company that their panel lawyers operate no completion no charge basis for conveyancing in Wollaston. I had a purchase fall through and now the conveyancers want search fees! They are stating that the fees are independent!
Wollaston conveyancing search fees are separate expenses not solicitors fees as these are payable to a third party.