I am in the throes of changing my current homeowner loan to a BTL lend mortgage. I have been informed by my broker that I must appoint a lawyer as part of the process. I had a chat the same Ainsdale conveyancing solicitor who who completed the conveyancing when I originally purchased the property. The fee estimate issued of £550 has taken me by surprise as I am not require purchase conveyancing - it’s simply a straightforward remortgage.
The estimate does seem a little on the high side.If you are prepared to expend time comparing prices you might decrease the fees marginally by say a hundred pounds. On the other hand, assuming were content with the legal work the firm gave you couldlive to rue choosing an a cheaper conveyancer. If is important to ensure that the conveyancer can act for . You can use our search tool to find a Ainsdale conveyancing firm on the conveyancing panel, which can often include conveyancing solicitors in Ainsdale.
The deeds to my house can not be found. The solicitors who dealt with the conveyancing in Ainsdale years ago are no longer around.What are my options?
As long as you have a registered title the details of your ownership will be retained by HMLR under a Title Number. It is easy to conduct a search at the Land Registry, locate your property and get current copies of the Registered Entries for less than a fiver. If the title is Leasehold then the Land Registry will also normally hold a file duplicate of the Registered Lease and again, a copy can be retrieved for twenty pounds.
Over the last few months I have been searching for a ground for flat up to £235,500 and found one round the corner in Ainsdale I like with amenity areas and transport links in the vicinity, the downside is that it's only got 52 years unexpired on the lease. There is not much else in Ainsdale in this price bracket, so just wondered if I would be making a mistake acquiring a lease with such few years left?
Should you require a mortgage the remaining unexpired lease term will likely be a potential deal breaker. Discount the price by the anticipated lease extension will cost if it has not already been discounted. If the current proprietor has owned the property for a minimum of twenty four months you may request that they start the process of the extension and pass it to you. An additional ninety years can be extended on to the existing lease term with a zero ground rent applied. You should consult your conveyancing solicitor concerning this.