I am in the throes of porting my domestic mortgage to a Buy to Let Virgin Money mortgage. The bank has said that I must appoint a conveyancer for this. I spoke to my former Market Deeping conveyancing solicitor who dealt with the legals when I originally bought the premises. The quote supplied of £470 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 overpriced. Where you are prepared to invest time scrutinising prices you might decrease the fees slightly by as much as £125. That being said, if you were happy with the assistance the firm provided you couldlive to regret opting for an an unknown conveyancer. Remember to check the firm can act for Virgin Money. You can use our search tool to get a quote a Market Deeping conveyancing firm on the Virgin Money member panel, which can often include conveyancing solicitors in Market Deeping.
Do banks and building societies provide you with an approved list of Market Deeping conveyancing solicitors? How do you know who is on the Virgin Money conveyancing panel?
Market Deeping conveyancing firms themselves provide us confirmation that they are on the Virgin Money conveyancing panel as opposed to being supplied with a list from Virgin Money directly.
What is the best way to find out if the solicitor conducting my conveyancing in Market Deeping is on the lender’sconveyancing panel? I am looking to avoid the situation of having one lawyer for me and one for Nationwide Building Society thus paying £192.00 in additional legal costs.
Please do take advantage of the search tool on this web page. Please choose the lender and type ‘Market Deeping’ or your location and you will see numerous conveyancers offices in Market Deeping or near you.
Just acquired a semi-detached house in Market Deeping , how long should it take for the Land Registry to record my title? My Market Deeping conveyancing solicitor works at snail pace, so I want to check the land registry aspects are dealt with.
As far as conveyancing in Market Deeping registration is no quicker or slower than anywhere else in the country. As opposed to being determined by geographic area, timescales can differ subject to the party submitting the application, whether there are errors and if the Land registry need to notify any other parties. Currently in the region of three quarters of submission are fully dealt with in less than three weeks but occasionally there can be longer delays. Historically registration takes place after the new owner has moved in to the premises therefore post completion formalities is not always an essential issue but where there is a degree of urgency associated with the registration then you or your lawyers can speak with the land registry and explain the circumstances.
Can you provide any top tips for leasehold conveyancing in Market Deeping with the intention of speeding up the sale process?
- A significant proportion of the delay in leasehold conveyancing in Market Deeping can be reduced if you instruct lawyers as soon as you market your property and ask them to put together the leasehold documentation which will be required by the purchasers’ solicitors. If you have had conflict with your landlord or managing agents it is essential that these are settled before the property is marketed. The purchasers and their solicitors will be warry about purchasing a property where a dispute is unresolved. You will have to accept that you will have to discharge any arrears of service charge or settle the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose details of the dispute to the buyers, but it is better to reveal the dispute as over rather than unresolved. You may think that you are aware of the number of years remaining on your lease but you should verify this by asking your lawyers. A buyer’s lawyer will be unlikely to recommend their client to proceed with the purchase of a leasehold property the lease term is below 75 years. In the circumstances it is essential at an early stage that you consider whether the lease term for your property needs extending. If it does, contact your solicitors before you put your home on the market for sale. If you are supposed to have a share in the Management Company, you should make sure that you are holding the original share certificate. Arranging a duplicate share certificate can be a lengthy formality and frustrates many a Market Deeping conveyancing transaction. Where a duplicate share certificate is needed, do contact the company director and secretary or managing agents (where applicable) for this as soon as possible.
I am the registered owner of a split level flat in Market Deeping, conveyancing formalities finalised half a dozen years ago. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Similar properties in Market Deeping with an extended lease are worth £260,000. The ground rent is £45 invoiced annually. The lease terminates on 21st October 2099
With 74 years left to run we estimate the premium for your lease extension to be between £8,600 and £9,800 as well as costs.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of comprehensive investigations. Do not use this information in tribunal or court proceedings. There are no doubt additional issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information without first seeking the advice of a professional.