My friend's sister is a property lawyer. I expect that I can be offered friends and family rates for conveyancing, but if not, what level of costs would I typically be looking at for conveyancing in Brompton?
It’s a good idea to look for two or three conveyancing quotes. Make use of our comparison tool on this site. Whilst fees seem to be different but the service one can expect differ between conveyancers as is true with the vast majority of professional services.
We're in Brompton, First time buyers purchasing with a mortgage (lender is TSB , and our lawyer is on the TSB conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the TSB conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no conveyancing practitioner should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
Do I select a Licenced Conveyancer or Solicitor for conveyancing in Brompton?
There are many registered licenced Conveyancers in Brompton and Solicitor practices in Brompton offering conveyancing We would stress that both are supervised by regulatory bodies with both specialising in the legal work in transferring property. They may both also conduct associated property related work such as remortgage conveyancing, lease extensions and transfer of equity conveyancing.
I have decided to exercise my right to buy my property in Brompton off the council. I have a mortgage agreed with Nottingham. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should have one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Nottingham, you will need to appoint a solicitor on the Nottingham conveyancing panel.
I can not work out if my bank obliges me to make sure the lease term for the flat is extended prior to the completion date. I have telephoned my Brompton building society branch on a couple of occasions and was informed it wasn't a problem and they will lend. My Brompton conveyancing solicitor - who is on the lender conveyancing panel- telephoned and was told they will not lend based on their published requirements. I simply don't know who is right.
As long as the solicitor is on the mortgage company approved list, she or he must adhere to the Council of Mortgage Lenders’ Handbook specifications for the lender. Unless your lawyer obtains specific confirmation in writing that the lender 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 mortgage company to contact your lawyer in writing confirming that they will accept the number of years remaining.
Due to the guidance of my in-laws I had a survey completed on a house in Brompton in advance of appointing conveyancers. I have been advised that there is a flying freehold element to the house. My surveyor has said that some lenders may not give a loan on such a home.
It depends who your proposed lender is. Santander has different requirements from Halifax. Should you wish to telephone us we can look into this further with the appropriate mortgage company. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Brompton. Conveyancing will be smoother if you use a solicitor in Brompton especially if they are familiar with such properties in Brompton.
Expecting to sign contracts shortly on a leasehold property in Brompton. Conveyancing lawyers assured me that they are sending me a report next week. Are there areas in the report that I should be focusing on?
The report on title for your leasehold conveyancing in Brompton should include some of the following:
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An explanation concerning the obligations in the lease to pay service charges - with regard to both the building, and the wider rights a lessee enjoys specifics of the parties to the lease, for instance these could be the leaseholder, head lessor, landlord You should know if the lease permits you to add or improve anything in the property- you should be made aware as to whether it relates to all alterations or limited to structural alteration, and whether consent is required if lease caters for for a sinking fund for major repairs?
I have tried to negotiate informally with with my landlord to extend my lease without any joy. Can the Leasehold Valuation Tribunal adjudicate on such matters? Can you recommend a Brompton conveyancing firm to help?
if there is a absentee landlord or if there is disagreement about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the LVT to judgment on the price.
An example of a Lease Extension case for a Brompton property is Flat 3 47 Cadogan Square in December 2010. the Tribunal determined that the premium payable to the landord by the leaseholder for the lease extension was £732,935 This case affected 1 flat. The unexpired term as at the valuation date was 13.33 years.
We are in the middle of purchasing a property in Brompton. Conveyancing lawyer has phoned to say the property is "Leasehold". Should this impact our lender’s valuation?
Brompton conveyancing does not normally involve leasehold houses. The main factor here is the unexpired lease term and the ground rent. If it's 999 years with a nominal rent, it's virtually freehold, so it’s unlikely to affect the marketability significantly.
At the other end of the spectrum, if it's, say, 50 years it will have a significant effect on the saleability, and most likely wouldn't be mortgageable. The length of lease and ground rent will be set out in the lease provided to your property lawyer.