Willinstructing a Burford conveyancing firm make the ownership transfer easier?
Burford is a unique place, where regional know-how counts for a lot. The relaxed pace of life has it’s attractions – but not when it comes to your conveyancing. The solicitors that we list providing in-depth Burford insight with a positive, hands-onattitude that ensures the conveyancing to progress without delay. It will certainly help if they can make use of long term rapport with mortgage brokers, estate agents, valuers and other Burford conveyancing practices
There are a variety of conveyancing solicitors in Burford but how do I know who's good?
Do not opt for the cheapest Burford conveyancing costs illustration. You really do get what you’re paying for when it comes to conveyancing solicitors. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you know exactly what you’ll have to pay in ahead of the deal.
We had chosen conveyancers located in Burford on the Bank of Ireland solicitor panel. They have just billed me a supplemental charge for dealing with the Bank of Ireland mortgage. Is this an additional conveyancing fee specified by Bank of Ireland?
Provided it is contained in their Terms of Engagement or Quote then yes your lawyer may levy a fee for this. This charge is not dictated by Bank of Ireland but by your Burford lawyer. Numerous firms on the Bank of Ireland panel will levy ’dealing with mortgage’ fee and others do not.
It is unclear whether my lender requires a lease extension. I have telephoned my Burford bank branch on a couple of occasions and was told they are content with the situation and they will lend. My Burford conveyancing solicitor - who is on the mortgage company conveyancing panel- called to say that they refuse to lend based on their published requirements. Who do I believe?
As long as the solicitor is on the bank panel, she or he must comply with the CML Handbook requirements for the bank. 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 bank to contact your lawyer in writing confirming that they will accept the number of years remaining.
Should our lawyer be asking questions concerning flooding as part of the conveyancing in Burford.
The risk of flooding is if increasing concern for lawyers conducting conveyancing in Burford. Plenty of people will acquire a house in Burford, fully aware that at some time, it may suffer from flooding. However, aside from the physical damage, where a house is at risk of flooding, it may be difficult to get a mortgage, suitable insurance cover, or sell the premises. There are steps that can be taken during the course of a property purchase to forewarn the buyer.
Solicitors are not qualified to give advice on flood risk, however there are a various checks that may be undertaken by the buyer or on a buyer’s behalf which should figure out the risks in Burford. The standard property information forms sent to a purchaser’s lawyer (where the Conveyancing Protocol is adopted) contains a standard question of the seller to find out if the property has ever been flooded. In the event that the premises has been flooded in past and is not disclosed by the owner, then a buyer could commence a claim for damages as a result of such an misleading answer. A purchaser’s solicitors will also carry out an enviro report. This should indicate whether there is a recorded flood risk. If so, further investigations will need to be carried out.
It has been 4 months since my purchase conveyancing in Burford took place. I have checked the Land Registry website which shows that I paid £175,000 when infact I paid £170,000. 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 asset 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.
What are your top tips when it comes to appointing a Burford conveyancing practice to deal with our lease extension?
If you are instructing a property lawyer for your lease extension (regardless if they are a Burford conveyancing practice) it is most important that they be familiar with the legislation and specialises in this area of work. We recommend that you speak with several firms including non Burford conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. The following questions could be useful:
-
What are the legal fees for lease extension work? Can they put you in touch with clients in Burford who can give a testimonial?
I invested in buying a 2 bed flat in Burford, conveyancing was carried out September 2000. Can you work out an approximate cost of a lease extension? Equivalent flats in Burford with over 90 years remaining are worth £260,000. The ground rent is £45 invoiced annually. The lease ends on 21st October 2099
You have 74 years unexpired we estimate the premium for your lease extension to be between £8,600 and £9,800 plus plus your own and the landlord's "reasonable" professional fees.
The figure above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more detailed due diligence. Do not use this information in a Notice of Claim or as an informal offer. There may be additional issues that need to be considered and you obviously should be as accurate as possible in your negotiations. Please do not take any other action based on this information without first getting professional advice.
Should one remove a departed person's details from the title register for a property in Burford?
Where a Burford property is co-owned and one of the owners dies, their name will not immediately be removed from the title deeds. You are not required to remove their name as when it comes to a sale your lawyer would just need to evidence as to the reason the other proprietor is missing from the contract, ordinarily this takes the form of the probate documents.
With the aim of making things simpler for the sale of the property you can arrange to have the deceased name removed from the title by applying to HM Land Registry with evidence of the death. There is no land registry fee payable.