The lawyer who helped my last purchase has sent a quote for £1700 for leasehold conveyancing in East Cowes. I’m looking to sell a modern property for £300,000. Is this over the top? Is it in excess of the norm for conveyancing in East Cowes?
The charges are a little high. If you shop around you may be able to get the conveyancing a bit cheaper by as much as a hundred pounds. On the other hand, you couldlive to regret opting for an an unknown lawyer. If is important to enquire the conveyancer can act for your mortgage company. Do use our comparison tool to get a quote a East Cowes conveyancing company on the banks member panel which can often include conveyancing solicitors in East Cowes.
My partner and I swapping mortgage lender for our maisonette in East Cowes with Bank of Ireland. We have a son 18 who lives with us. Our solicitor requested us to identify anyone over the age of 17 other than ourselves who reside at the property. Our lawyer has now e-mailed a document for our son to sign, waiving any legal rights in the event that the flat is forfeited by the lender. I have a couple of concerns (1) Is this form unique to the Bank of Ireland conveyancing panel as he never had to sign this form when we remortgaged 5 years ago (2) In signing this form is our son in any way compromising his right to inherit the property?
First, rest assured that your Bank of Ireland conveyancing panel solicitor is doing the right thing as it is established procedure for any occupier who is aged 17 or over to sign the necessary Consent Form, which is purely to state that any rights he has in the property are postponed and secondary to Bank of Ireland. This is solely used to protect Bank of Ireland if the property were re-possessed so that in such circumstances, your son would be legally obliged to leave. It does not impact your son’s right to inherit the apartment. Please note that if your son were to inherit and the mortgage in favour of Bank of Ireland had not been discharged, he would be liable to take over the loan or pay it off, but other than that, there is nothing stopping him from keeping the property in accordance with your will or the rules of intestacy.
My apartment in East Cowes is up for sale and I have a purchaser. Does the property lawyer have to be required to be on the Coventry BS conveyancing panel in order to deal with redeeming my mortgage?
Ordinarily, even if your lawyer is not on the Coventry BS conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their panel criteria fairly frequently at the moment.
I used Arc property Solicitors several years past for my conveyancing in East Cowes. Now, I need the documents however cannot find the solicitor. What do I do?
You should call the Solicitors Regulatory Authority (SRA) to assist in tracing your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in East Cowes of the conveyancing firm of solicitors you previously used, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
I am thinking of appointing a conveyancing lawyer in East Cowes for my sale. Is it possible to see a solicitor's complaints history with the legal regulator?
One may review documented Solicitor Regulator Association (SRA) decisions stemming from inquisitions from 2008 onwards. Go to Check a solicitor's record. To find details Pre 2008, or to check a firm's record, call 0870 606 2555, 08.00 - 18.00 any week day save for Tuesday when lines open at 9.30am. For callers outside the UK, call +44 (0)121 329 6800. The SRA may recorded telephone calls for training requirements.
My wife and I purchased a leasehold flat in East Cowes. Conveyancing and Virgin Money mortgage organised. A letter has just been received from someone claiming to own the freehold. It included a demand for arrears of ground rent dating back to 1995. The conveyancing practitioner in East Cowes who previously acted has now retired. Any advice?
First contact HMLR to be sure that the individual purporting to own the freehold is in fact the new freeholder. There is no need to incur the fees of a East Cowes conveyancing solicitor to do this as you can do this on the Land Registry website for £3. Rest assured that regardless, even if this is the rightful landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I inherited a garden flat in East Cowes, conveyancing having been completed 10 years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Equivalent flats in East Cowes with over 90 years remaining are worth £206,000. The average or mid-range amount of ground rent is £45 charged once a year. The lease finishes on 21st October 2092
You have 67 years unexpired we estimate the premium for your lease extension to be between £10,500 and £12,000 as well as legals.
The suggested premium range above a general guide to costs for extending a lease, but we are not able to advice on the actual costs in the absence of 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 clearly you want to be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information without first seeking the advice of a professional.