My family lawyer has quoted £1700 for leasehold conveyancing in Dudley. I’m selling a purpose built property for £225,000. This appears too much. Is it above what I should be paying for conveyancing in Dudley?
The estimate does seem marginally steep. If you are willing to spend time scrutinising prices you could shave off some of the cost by say a hundred pounds. That being said, you maylive to rue opting for an a cheaper solicitor. Don't forget to ensure that the solicitor can represent your bank. You can make use of our comparison tool to choose a Dudley conveyancing firm on the banks conveyancing panel which can often include conveyancing solicitors in Dudley.
I purchased a freehold residence in Dudley but still invoiced for rent, why is this and what is this?
It is rare for properties in Dudley and has limited impact for conveyancing in Dudley 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 creation of fresh rentcharges from 1977 onwards.
Old rentcharges can now be redeemed by making a one off payment under the Act. Any rentcharges that are still in existence post 2037 is to be extinguished.
We're in Dudley, First timers buying with a mortgage (lender is Coventry BS , and our solicitor is on the Coventry BS conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Coventry BS conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no solicitor 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.
I am purchasing a new build house in Dudley with a loan from National Westminster Bank. The developers would not move on the price so I negotiated 6k of extras instead. The house builders rep told me not reveal to my solicitor about the side-deal as it will adversely affect my loan with National Westminster Bank. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
Yesterday I discovered that there is a flying freehold element on a property I have offered on two weeks back in what was supposed to be a quick, no chain conveyancing. Dudley is where the house is located. Can you offer any opinion?
Flying freeholds in Dudley are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Dudley you would need to get your solicitor to go through the deeds thoroughly. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Dudley may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.
My step-father has recommend that I instruct his conveyancers in Dudley. Do I follow his advice?
There are no two ways about it it’s preferable to select a conveyancing solicitor is to get guidance from friends or family who have actually experience in using the conveyancer you're are thinking of instructing.