We chose a high street solicitor for my conveyancing in Amesbury today. After carefully reading the terms of engagement I notewe are on the hook for costs even if the sale doesn't happen. Should I go with them or use an internet firm who offer no-sale-no-fee conveyancing in Amesbury?
Generally there is a concession along the lines that if "No Completion No Fee" is available then the fee levels will generally be higher to counteract those transactions that fail to complete. Dont forget that these promotions rarely protect you from disbursements e.g. Amesbury conveyancing search fees.
We are buying a flat and need a conveyancing solicitor in Amesbury who is on the Clydesdale approved panel. Could you point me in the right direction as regards a conveyancing firm?
Our service is limited to being a directory service for firms who wish to be listed as being on the approved conveyancing panel for Clydesdale . We don't recommend any particular firms conducting conveyancing in Amesbury.
Is it the case that all Amesbury CQS (Conveyancing Quality Scheme) solicitors are on the TSB conveyancing list of approved practices?
It is true that some banks and building societies now make use of the accreditation scheme as the kick off point for Panel membership such as HSBC and Santander. CQS membership however gives no guarantee to lender panel acceptance. Nevertheless,the CML have indicated that it is likely to become a pre-requisite for solicitors wishing to remain on their approved list of firms.
I can not fathom if my bank obliges me to make sure the lease term for the flat is extended prior to the completion date. I have called my Amesbury bank branch on a couple of occasions and was reassured it wasn't a problem and they would lend. My Amesbury conveyancing solicitor - who is on the lender conveyancing panel- telephoned to say that they refuse to lend based on their specific requirements. I simply don't know who is right.
As long as the property lawyer is on the mortgage company panel, she or he must follow the Council of Mortgage Lenders’ Handbook specifications for the bank. Unless your lawyer obtains specific confirmation in writing that the bank will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the lender to contact your lawyer in writing confirming that they will accept the number of years remaining.
Co-operative have agreed my home loan in principle, my bid on a property in Amesbury has been agreed to, now what?
Your property agent will need to know who your solicitors are (ensure that the property lawyers are on the lender’s approved list). Contact Co-operative or your financial adviser and complete any appropriate paperwork. Co-operative will appoint a valuer who will get in contact with the estate agent or vendor to book a time for the valuation to take place. Once conducted (assuming no problems) it takes about ten days to get a mortgage offer. Co-operative will send the offer to you and your lawyers. The legal work will then take it’s course according the nature and complexity of the conveyancing in Amesbury.
I have been told that property searches are the primary cause of delay in Amesbury conveyancing transactions. Is that correct?
The Council of Property Search Organisations (CoPSO) released findings of research by MoveWithUs that conveyancing searches do not figure amongst the most frequent causes of delays during the legal transfer of property. Searches are not likely to feature in any slowing down conveyancing in Amesbury.
I am buying a new build flat in Amesbury. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.
Set out below are examples of a selection of leasehold new build enquiries that you can expect your new-build leasehold conveyancing in Amesbury
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There must be mutual enforceability of lessee’s covenants. Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. Forfeiture - bankruptcy or liquidation must not apply under this provision. If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided.
Last January I purchased a leasehold house in Amesbury. Am I liable to pay service charges relating to a period prior to my ownership?
In a situation where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I am the registered owner of a basement flat in Amesbury, conveyancing formalities finalised in 2008. 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? Comparable properties in Amesbury with over 90 years remaining are worth £265,000. The ground rent is £50 levied per year. The lease finishes on 21st October 2100
With 75 years unexpired we estimate the premium for your lease extension to be between £8,600 and £9,800 as well as legals.
The figure 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. Please do not take any other action based on this information before seeking the advice of a professional.