The solicitor who assisted with my previous purchase has given a fee estimate £1350 for fixed fee conveyancing in Corby. I am hoping to downsize from a newly refurbished house for £150,000. Are the quoted fees excessive? Is it in excess of what I should be paying for conveyancing in Corby?
The estimate does seem a tad overpriced. Where you are willing to spend time comparing costs you may be able to shave off some of the expense by say a hundred pounds. That being said, you mightcome to regret opting for an an unknown solicitor. If is important to check that the solicitor can represent your mortgage company. You can make use of our search tool to locate a Corby conveyancing practice on the lender’s approved list of lawyers which can often include conveyancing solicitors in Corby.
Our grandson is buying a house that has just been built in Corby with a mortgage from Nottingham. His solicitor has said that there is a delay in receiving the ‘Disclosure of Incentive Form’. This document is news to me - what is it and who needs sight of it?
The form is intended to provide information to the main parties engaged in the transaction. Therefore, it will be provided to your son’s lawyer who should be on the Nottingham conveyancing panel as a standard part of the process, and to the valuer when asked. The developer will be required to start the process by downloading the form and completing it. The form will therefore need to be available for the valuer at the time of his or her site visit. The form should be sent to the Nottingham conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
I am buying a new build flat in Corby. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.
Here is a sample of a selection of leasehold new build questions that you can expect your new-build leasehold conveyancing in Corby
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If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified. Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme.
I decided to have a survey completed on a house in Corby ahead of retaining lawyers. I have been advised that there is a flying freehold element to the property. Our surveyor advised that some banks tend refuse to grant a loan on a flying freehold premises.
It varies from the lender to lender. Lloyds has different requirements for example to Nationwide. Should you wish to call us we can look into this further with the appropriate lender. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Corby. Conveyancing may be slightly more expensive based on your lender's requirements.
I am 3 weeks into a residential purchase having been directed to a firm by the local agent to handle our conveyancing in Corby. We are not happy. Can you you assist me in finding new solicitors?
A solicitor would have to be very poor in order to consider diss instructing them. Has the mortgage been generated? In the event that it has you need to advise them of the new contact details and have the offer are re-sent. Your conveyancer should be on the mortgage company approved list to avoid added costs and complications. So that should be your starting point. The search tool will help you find a bank approved solicitor for your conveyancing in Corby
Can you provide any advice for leasehold conveyancing in Corby with the aim of saving time on the sale process?
- A significant proportion of the delay in leasehold conveyancing in Corby can be avoided where you instruct lawyers as soon as your agents start advertising the property and ask them to put together the leasehold documentation needed by the purchasers’ conveyancers. A minority of Corby leases require Licence to Assign from the landlord. If this is the case, you should place the estate agents on notice to make sure that the purchasers put in hand bank and professional references. The bank reference will need to confirm that the buyers are able to meet the yearly service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the actual amount of the service charge so that they can pass this information on to the buyers or their solicitors. The majority of landlords or Management Companies in Corby charge for supplying management packs for a leasehold premises. You or your lawyers should enquire as to the fee that they propose to charge. The management pack can be applied for on or before finding a buyer, thus reducing delays. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most usual reason for frustration in leasehold conveyancing in Corby. If you hold a share in a the Management Company, you should make sure that you have the original share certificate. Organising a re-issued share certificate is often a time consuming formality and frustrates many a Corby conveyancing deal. Where a reissued share is necessary, you should approach the company director and secretary or managing agents (if relevant) for this as soon as possible. If you have carried out any alterations to the premises would they have required Landlord’s permission? In particular have you laid down wooden flooring? Corby leases often stipulate that internal structural changes or installing wooden flooring calls for a licence from the Landlord approving such alterations. If you fail to have the consents to hand do not communicate with the landlord without contacting your lawyer first.
Corby Leasehold Conveyancing - A selection of Questions you should ask before Purchasing
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The answer will be useful as a) areas can result in problems for the building as the communal areas may begin to deteriorate if repairs are not paid for b) if the leasehold owners have an issue with the running of the building you will need to have full disclosure How many of the leaseholders are in arrears for their service charge payments? Many Corby leasehold properties will be liable to pay a service bill for maintenance of the block levied on behalf of the landlord. Where you buy the apartment you will have to pay this charge, normally periodically accross the year. This may vary from two or three hundred pounds to thousands of pounds for large purpose-built buildings. In all likelihood there will be a rentcharge for you to pay yearly, this is usually not a exorbitant figure, say about £25-£75 but you need to enquire as occasionally it could be surprisingly expensive.