Just contacted my conveyancing lawyer in Babbacombe who acted for me 18 months ago and wanted a conveyancing estimate based on the same type of house sale & purchase (a leasehold residence and a freehold premises) of almost identical values with a mortgage from Norwich and Peterborough Building Society. I am now being charged twice the amount. Should I hunt for a cheaper internet conveyancer?
The quote is fractionally on the high side. Where you are prepared to expend time scrutinising charges you may be able to get the conveyancing a bit cheaper by say £125. That being said, if you were satisfied with the assistance the firm gave you couldlive to regret opting for an a cheaper solicitor. Don't forget to check the conveyancer can act for Norwich and Peterborough Building Society. Do use our search tool to get a quote a Babbacombe conveyancing firm on the Norwich and Peterborough Building Society member panel, which can often include conveyancing solicitors in Babbacombe.
In the event thatI was to purchase a straightforward homein Babbacombe mortgage fee and dispense with a survey and no conveyancing searches how much should I expect to have to pay for conveyancing in Babbacombe?
The only saving you would achieve is the Babbacombe conveyancing searches. Your property lawyer is obliged to do the vast majority of work - money laundering, liaising with the sellers lawyer, SDLT submission, register the property etc. A marginal saving might be made by not having to register a mortgage however it will not be significant.
We are purchasing a property and the lawyer has referenced Chancel Repair for which the house may be obligated to pay given it’s proximity to the area of such a church. She has suggested insurance. Is this really required for conveyancing in Babbacombe
Unless a prior acquisition of the house took place post 12 October 2013 you can expect lawyers handling conveyancing in Babbacombe to continue to advocate a chancel search and or chancel repair liability policy.
I have been on the look out for a leasehold apartment up to £195,000 and identified one near me in Babbacombe I like with amenity areas and station nearby, however it only has 52 years unexpired on the lease. There is not much else in Babbacombe in this price bracket, so just wondered if I would be making a grave error purchasing a lease with such few years left?
Should you require a mortgage the remaining unexpired lease term may be a potential deal breaker. Discount the price by the amount the lease extension will cost if not already taken into account. If the current proprietor has owned the premises for a minimum of 2 years you can ask them to commence the lease extension formalities and pass it to you. You can add 90 years to the existing lease term with a zero ground rent applied. You should speak to your conveyancing lawyer about this.
I was advised by a few property agents in Babbacombe to locate a property lawyer using your seach tool. What’s the financial incentive for Estate Agents to recommend your services over and above a competitor’s?
We don’t offer any financial incentive for sending work in our direction. We found it would be just too difficult to pay a commission because members of the public would think, ‘Why is the agent getting a kickback? Why aren’t I getting any benefit too?’ So we decided to step away from that.
I have recently realised that I have 72 years unexpired on my flat in Babbacombe. I now want to extend my lease but my freeholder is absent. What are my options?
On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be granted an extra 90 years by the magistrate. You will be obliged to prove that you or your lawyers have made all reasonable attempts to locate the landlord. For most situations a specialist should be helpful to carry out a search and to produce an expert document which can be used as proof that the freeholder is indeed missing. It is advisable to get professional help from a conveyancer both on investigating the landlord’s disappearance and the application to the County Court overseeing Babbacombe.
I inherited a 1 bedroom flat in Babbacombe, conveyancing having been completed 3 years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Similar properties in Babbacombe with over 90 years remaining are worth £185,000. The average or mid-range amount of ground rent is £65 levied per year. The lease ceases on 21st October 2084
You have 59 years left to run we estimate the premium for your lease extension to range between £20,900 and £24,200 plus professional fees.
The suggested premium range above a general guide to costs for extending a lease, but we are not able to advice on the actual costs without more comprehensive due diligence. You should not use the figures in tribunal or court proceedings. There are no doubt other concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Please do not take any other action based on this information before getting professional advice.