I'm in the process of porting my current homeowner home loan to a Buy to Let Santander mortgage. I have been informed by my broker that I need a conveyancer for this. I spoke to my past Timperley conveyancing practitioner who who completed the conveyancing when I previously bought the premises. The costs illustration sent of just over five hundred pounds has surprised me as I am not require purchase conveyancing - it’s simply a straightforward remortgage.
The costs illustration is fractionally on the expensive side. If you shop around you may be able to decrease the fees marginally by as much as £100 plus VAT. That being said, assuming were happy with the legal work the firm provided you maycome to rue choosing an an unknown solicitor. Don't forget to be sure that the solicitor can represent Santander. Do use our search tool to locate a Timperley conveyancing firm on the Santander member panel, which can often include conveyancing solicitors in Timperley.
I happen to be the only recipient of my late grandmother’s estate and I have everything in my name now, including the house in Timperley. The Timperley property was put into my name in November. I want to move. I understand that there is a Mortgage Lenders six month 'rule', meaning my property ownership may be considered the same way as if I'd bought the property in November. Is the property unsalable for six months?
The Council of Mortgage Lenders’ handbook requires solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you could be affected by that. many lenders would take a practical view as this clause is principally there to pick up on the purchase and immediately sell or the quick reselling of properties.
We previously selected conveyancers with offices in Timperley on the Barclays solicitor panel. They have just invoiced me a further sum for dealing with the Barclays mortgage. Is this a supplemental conveyancing fee set by Barclays?
As unfair as it may seem, as long as it’s in their Terms of Engagement or estimate then yes your lawyer can levy a fee for this. This fee is not dictated by Barclays but by your Timperley lawyer. Numerous firms on the Barclays panel will quote an ‘acting for lender’ fee but some practices incorporate it on their overall fee.
The formalities of my purchase has taken place for my property in Timperley. Conveyancing was of an acceptable standard but I feel I should register my dissatisfaction about the lender. Who do I contact should I wish to lodge a complaint?
Almost all lenders have complaints procedures. Your first point of contact should be one of the lender’s branches or the Customer Services Department at head office. Ordinarily complaints to a lender are resolved very quickly. However if you are not satisfied that the matter is not resolved you can write to Financial Ombudsman Service who will take matters further.
Should our solicitor be asking questions about flooding as part of the conveyancing in Timperley.
The risk of flooding is if increasing concern for solicitors conducting conveyancing in Timperley. There are those who purchase a house in Timperley, completely expectant that at some time, it may be flooded. However, leaving to one side the physical damage, where a property is at risk of flooding, it may be difficult to obtain a mortgage, suitable insurance cover, or sell the premises. There are steps that can be taken during the course of a property purchase to forewarn the buyer.
Lawyers are not qualified to impart advice on flood risk, but there are a various checks that can be undertaken by the purchaser or on a buyer’s behalf which can figure out the risks in Timperley. The standard property information forms sent to a purchaser’s conveyancer (where the Conveyancing Protocol is adopted) incorporates a standard question of the vendor to discover whether the property has ever been flooded. In the event that flooding has previously occurred which is not disclosed by the seller, then a purchaser may commence a legal claim for losses resulting from an inaccurate response. The purchaser’s lawyers should also commission an environmental report. This will indicate whether there is a recorded flood risk. If so, further investigations should be made.
How does conveyancing in Timperley differ for new build properties?
Most buyers of new build premises in Timperley come to us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the premises is built. This is because house builders in Timperley tend to acquire the real estate, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Timperley or who has acted in the same development.
I was pointed in your direction by a couple of local estate agents in Timperley to select a solicitor on your site. What’s the financial advantage for Estate Agents to promote your lawyers over alternative conveyancing organisations?
We don’t give any financial incentive for pointing buyers and sellers to this site. We thought it would be too underhand to pay a commission because members of the public would think, ‘Why is the agent getting a kickback? Why am I not receiving any benefit too?’ We would prefer to grow our business on genuine recommendations.