My fiance’s brother is a property lawyer. I hope that I'll be able to get friends and family rates for conveyancing, However if that does not come materialise, what level of fees would I typically be looking at for conveyancing in Basingstoke?
You should contrast pricing. Do use our comparison tool on this page. Whilst amounts seem to contrast greatly but service levels do differ between conveyancers as is true with most professions.
I am the registered owner of a freehold residence in Basingstoke but still invoiced for rent, why is this and what is this?
It’s unusual for properties in Basingstoke and has limited impact for conveyancing in Basingstoke but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges have existed for hundreds of years, but the Rent Charge Act 1977 barred the establishment of fresh rentcharges post 1977.
Old rentcharges can now be redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence after 2037 will be dispensed with completely.
We are expecting a mortgage offer soon. The lender mentioned the home loan came with free conveyancing. Does this mean I have to appoint their panel conveyancer as I would prefer to appoint a Basingstoke based conveyancing firm?
You should check but the chances are that give you one of their panel lawyers where you want the "fee-free" deal. Speak to the mortgage company and explore if they make available a cash alternative. Some banks have previously offered a £250 cashback as an alternative in which case that money can go towards your preferred conveyancing solicitor in Basingstoke.
I am assisting my niece sell her house in Basingstoke. Does the conveyancer order the EPC or it is for the seller to coordinate?
After the abolition of Home Packs, energy assessments was maintained a compulsory element of moving property. An EPC must be commissioned in advance of the property being put on the market. This is not as aspect of the sale process that conveyancers normally arrange. Where you are using a Basingstoke conveyancing practitioner they might be willing to arrange energy assessments given their contacts with long established Basingstoke assessors
I'm the single recipient of my late father’s estate and I have everything in my name now, including the house in Basingstoke. Conveyancing formalities meant that the Land Registry date was in August. I want to move. I understand that there is a Mortgage Lenders 6 month 'rule', meaning my proprietorship could be regarded the same way as if I'd bought the property in August. Will no one buy the property for half a year?
The Council of Mortgage Lenders’ handbook obliges solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you could be caught by that. Most mortgage companies would take a sensible view as this requirement chiefly exists to identify subsales or the flipping of properties.
We had selected conveyancing lawyers with offices in Basingstoke on the Bank of Ireland solicitor panel. They are now charging me an additional charge for dealing with the Bank of Ireland mortgage. Is this an additional conveyancing fee set by Bank of Ireland?
Unfortunately, so long as it is in their Terms of Engagement or estimate then yes your lawyer is entitled to charge a fee for this. This charge is not set by Bank of Ireland but by your Basingstoke property lawyer. Plenty of firms on the Bank of Ireland panel will quote an ‘acting for lender’ fee and others do not.
Should our lawyer be raising enquiries regarding flooding during the conveyancing in Basingstoke.
The risk of flooding is if increasing concern for conveyancers carrying out conveyancing in Basingstoke. There are those who buy a property in Basingstoke, completely expectant that at some time, it may be flooded. However, leaving to one side the physical destruction, where a house is at risk of flooding, it may be difficult to obtain a mortgage, satisfactory building insurance, or sell the property. There are steps that can be taken during the course of a house purchase to forewarn the purchaser.
Solicitors are not best placed to offer advice on flood risk, however there are a numerous searches that may be undertaken by the purchaser or on a buyer’s behalf which will give them a better understanding of the risks in Basingstoke. The conventional set of completed inquiry forms supplied to a purchaser’s conveyancer (where the Conveyancing Protocol is adopted) includes a usual inquiry of the seller to discover if the property has historically flooded. In the event that the property has been flooded in past and is not disclosed by the seller, then a purchaser may issue a legal claim for losses stemming from an incorrect response. A buyer’s lawyers may also commission an environmental search. This will reveal whether there is any known flood risk. If so, further inquiries should be initiated.
I work for a long established estate agent office in Basingstoke where we see a number of flat sales jeopardised due to leases having less than 80 years remaining. I have been given inconsistent advice from local Basingstoke conveyancing firms. Can you shed some light as to whether the seller of a flat can initiate the lease extension process for the buyer?
As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser can avoid having to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or simultaneously with completion of the sale.
Alternatively, it may be possible to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.
I acquired a 2 bed flat in Basingstoke, conveyancing was carried out half a dozen years ago. 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? Corresponding flats in Basingstoke with a long lease are worth £265,000. The ground rent is £50 yearly. The lease ends on 21st October 2101
With 75 years left to run the likely cost is going to be between £8,600 and £9,800 as well as plus your own and the landlord's "reasonable" professional fees.
The figure above a general guide to costs for extending a lease, but we are not able to advice on a more accurate figure without more comprehensive investigations. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information without first seeking the advice of a professional.