In the event thatI was to purchase a simple residential homein East Oxford mortgage fee and have no survey and no conveyancing searches how much would I expect to have to pay for conveyancing in East Oxford?
The sole saving you would achieve is the disbursement for searches. Your solicitor still be obliged to do everything else - money laundering, liaising with your sellers solicitor, SDLT return, register the ownership etc. A marginal saving might be made by not needing to register a mortgage however it will not be meaningful.
We are purchasing a property and need a conveyancing solicitor in East Oxford who is on the Aldermore approved panel. Can you recommend a local solicitor?
Our service is limited to being a directory service for firms who wish to be listed as being on the approved conveyancing panel for Aldermore . We don't recommend any particular firms conducting conveyancing in East Oxford.
My partner and I are downsizing from our property in East Oxford and according to the buyers it appears that there is a possibility that the property was built land that was not decontaminated. A high street East Oxford lawyer would know this is not the case. For the life of me I don't know why the buyers instructed an internet conveyancing practice as opposed to a conveyancing solicitor in East Oxford. We have lived in East Oxford for many years we know of no issue. Is it a good idea to get in touch with our local Authority to seek confirmation need.
It sounds as though you may have a conveyancing solicitor already. Are they able to advise? You should enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out life insurance to cover that same illness)
How does conveyancing in East Oxford differ for newly converted properties?
Most buyers of new build residence in East Oxford come to us having been asked by the housebuilder to sign contracts and commit to the purchase even before the house is completed. This is because builders in East Oxford tend to acquire the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in East Oxford or who has acted in the same development.
I decided to have a survey carried out on a property in East Oxford before retaining lawyers. I have been told that there is a flying freehold aspect to the property. My surveyor advised that some lenders will refuse to give a mortgage on this type of property.
It varies from the lender to lender. Bank of Scotland has different instructions for example to Halifax. Should you wish to telephone us we can investigate further via 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 East Oxford. Conveyancing may be slightly more expensive based on your lender's requirements.
I am tempted by the attractive purchase price for a two flats in East Oxford which have in the region of fifty years unexpired on the lease term. Will this present a problem?
A lease is a right to use the premises for a prescribed time frame. As the lease shortens the marketability of the lease decreases and results in it becoming more expensive to acquire a lease extension. This is why it is generally wise to increase the term of the lease. More often than not it is difficulties arise selling premises with a short lease because mortgage lenders may be unwilling to lend money on such properties. Lease enfranchisement can be a difficult process. We advise that you get professional assistance from a solicitor and surveyor with experience in this area.
I own a 1st floor flat in East Oxford, conveyancing having been completed half a dozen years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Similar properties in East Oxford with an extended lease are worth £191,000. The ground rent is £55 invoiced annually. The lease ceases on 21st October 2079
With only 53 years remaining on your lease we estimate the premium for your lease extension to span between £27,600 and £31,800 plus professional fees.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs without more detailed due diligence. You should not use this information in tribunal or court proceedings. There may be additional concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. You should not move forward placing reliance on this information without first seeking the advice of a professional.