I am in the throes of swapping over from my current homeowner home loan to a Buy to Let Britannia mortgage. The bank has said that I need a conveyancer for this. I had a chat my former Workington conveyancing firm who acted on my behalf when I originally acquired the house. The quote sent of £500 has surprised me as I am not require purchase conveyancing - it’s simply a bog-standard refinance.
The estimate fees appear a bit high. If you you were to look around you could trim some of the cost by say £100 plus VAT. On the other hand, if you were pleased with the conveyancing the firm provided you mightcome to rue opting for an an unknown solicitor. If is important to ensure the firm can act for Britannia. Do use our search tool to choose a Workington conveyancing firm on the Britannia approved list of lawyers, which can often include conveyancing solicitors in Workington.
We are only a couple days away from an exchange on a house in Workington and my mum and dad have sent the exchange deposit to my lawyer. I am now informed that as the deposit has been sent from someone other than me my solicitor needs to disclose this to my mortgage company. Apparently, in also acting for the bank he must inform them that the balance of the purchase price is not just from me. I informed the bank about my parents' contribution when I applied for the mortgage, so is it really necessary for this now to be an issue?
Your solicitor is legally required to check with the bank to make sure that they understand that the balance of the purchase price is not from your own resources. Your solicitor can only report this to your lender if you permit them to, failing which, your lawyer must cease to continue acting.
Is it correct that all Workington CQS (Conveyancing Quality Scheme) solicitors are on the Lloyds conveyancing panel?
A selection of lenders now utilise the accreditation scheme as the kick off point for Panel approval such as HSBC and Santander. The Law Society’s CQS accreditation however is no guarantee to lender panel acceptance. Nevertheless,the CML have indicated that it is likely to become a pre-requisite for solicitor practices wishing to remain on their panels.
How can we tell if a Workington conveyancing solicitor on the Kent Reliance panel is any good?
When it comes to conveyancing in Workington seeking recommendations is a sensible start. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one advertising the lowest fees. We would always recommend that you speak with the lawyer handling your transaction.
I've digested plenty of mortgage guides, I note that it is considered advisable to get your house surveyed prior to buying it. When I asked my local Workington solicitor - who is on the HSBC conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. is that correct?
HSBC will need an independent valuation of the property. Your lawyer will not arrange this. Usually HSBC will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. You may wish to consider appointing your own Workington surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
I've recently found out that there is a flying freehold issue on a property I put an offer in a fortnight ago in what was supposed to be a simple, no chain conveyancing. Workington is the location of the property. Can you shed any light on this issue?
Flying freeholds in Workington are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Workington you would need to get your solicitor to go through the deeds diligently. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Workington may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
I need to instruct a conveyancing solicitor for remortgage conveyancing in Workington. I've stumble upon a site which looks to be the perfect solution If it is possible to get all this stuff done via web that would be preferable. Do I need to be wary? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?