IfI was to buy a straightforward housein Atherstone mortgage fee and have no survey and no local authority searches how much would I expect to have to pay for conveyancing in Atherstone?
The sole saving you would achieve is the costs for searches. A lawyer still be obliged to do everything else - money laundering, correspond with the sellers lawyer, stamp duty submission, register the ownership etc. A slight saving might be made by not needing to register a charge however it will not be meaningful.
We had instructed conveyancing lawyers located in Atherstone on the Co-operative solicitor panel. They are now charging me a further amount for the legal aspects of the Co-operative mortgage. Is this an additional conveyancing fee specified by Co-operative?
Unfortunately, so long as it is in their Terms and Conditions or estimate then yes your property lawyer may levy a fee for this. This fee is not dictated by Co-operative but by your Atherstone conveyancing practitioner. Numerous firms on the Co-operative panel will charge an ‘acting for lender’ fee and others do not.
I am expecting a OIP from RBS this week so we can work out what to offer on a property we like as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc). Do RBS recommend any Atherstone solicitors on the RBS conveyancing panel, or is it better to find our own lawyer?
You will need to appoint Atherstone solicitors independently although you'll need to choose one on the RBS conveyancing panel. The solicitor represents both you and RBS through the process.
After months of negotiation I have agreed a price on a house in Atherstone. My financial adviser suggested a property lawyer. I paid an upfront payment of £200. Soon after, the solicitor called me to say that they were not on the RBS conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the RBS panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
3 months have elapsed since my purchase conveyancing in Atherstone completed. I have checked the Land Registry website which shows that I paid £150,000 when infact I paid £160,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the property from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
How does conveyancing in Atherstone differ for new build properties?
Most buyers of new build or newly converted property in Atherstone approach us having been asked by the developer to exchange contracts and commit to the purchase even before the house is finished. This is because builders in Atherstone tend to acquire the site, 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 accustomed to new build conveyancing in Atherstone or who has acted in the same development.
Due to complete next month on a ground floor flat in Atherstone. Conveyancing solicitors assured me that they will have a report out to me tomorrow. What should I be looking out for?
The report on title for your leasehold conveyancing in Atherstone should include some of the following:
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The landlord’s rights to access the flat. You should be made aware that your landlord has rights of access as well as be informed how much notice must be provided. Rent payments - what is payable and when you need to pay, and be on notice if this is subject to change What the implications are if you breach a clause of your lease? You should receive a copy of the lease Information as to the provision in the lease to pay service charges - in relation to the building, and the more general rights a lessee has
I acquired a 1 bedroom flat in Atherstone, conveyancing was carried out in 2001. Can you give me give me an indication of the likely cost of a lease extension? Similar flats in Atherstone with an extended lease are worth £179,000. The average or mid-range amount of ground rent is £65 invoiced annually. The lease terminates on 21st October 2082
With 57 years unexpired we estimate the premium for your lease extension to range between £26,600 and £30,800 plus plus your own and the landlord's "reasonable" professional fees.
The figure that we have given is a general guide to costs for extending a lease, but we are not able to provide a more accurate figure in the absence of detailed due diligence. You should not use this information in a Notice of Claim or as an informal offer. There may be other issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information before getting professional advice.
I have recently placed an offer on an apartment in Atherstone and the broker that we are dealing with suggested his conveyancer. They quoted £900 including VAT and disbursements. Does this sound steep?
You should not rely on one quote. You should obtain like-for-like quotes for your conveyancing in Atherstone. Then pick one that you trust and just as important, is on the approved list of the bank that you have applied for a mortgage from.