Recently contacted my conveyancing solicitor in Enfield who completed the legal work 18 months ago asking for a conveyancing estimate based on an identical type of home move (a leasehold premises and a freehold property) of similar values with a mortgage from Bank of Scotland. It looks as though am now being charged double. Am I right to be tempted to shop around for a cheaper internet firm of conveyancing solicitor?
The quote is fractionally on the steep side. Where you are happy to invest time scrutinising quotes you could reduce the fees marginally by as much as £100 plus VAT. That being said, if you were satisfied with the legal work the firm offered you mightlive to regret opting for an an unknown solicitor. Don't forget to check the solicitor can also act for Bank of Scotland. Do use our search tool to find a Enfield conveyancing firm on the Bank of Scotland conveyancing panel, which can often include conveyancing solicitors in Enfield.
I am acquiring a property without a mortgage in Enfield. I have resided for the last dozen years in Enfield. Conveyancing searches are a lot of money. Given that I have knowledge of the area and road intimately must I have all the conveyancing searches?
If you not getting a mortgage, then the vast majority of the Enfield conveyancing searches are optional. Your conveyancer will ’encourage you, no-doubt strongly, that you should have searches carried out, but she has a professional duty to take that path of advice. Do take into account; if you are intend to sell the house at a future date, it could be of importance to your prospective buyer what the searches determine. There are plenty of instances where houses with functional issues can still throw up adverse search results. A good conveyancing solicitor in Enfield will be able to give you some sensible advice in this regard.
How do I find out if the solicitor handling my conveyancing in Enfield is on the lender’sapproved panel? I am looking to avoid the situation of having one lawyer for me and one for Nationwide Building Society thus spending £192.00 in supplemental conveyancing charges.
Please do take advantage of the search tool on this site. Please choose the mortgage company and type ‘Enfield’ or your location and you will see numerous solicitors based in Enfield or near you.
Over the last few months I have been searching for a leasehold apartment up to £305k and identified one near me in Enfield I like with a park and railway links nearby, the downside is that it only has 49 remaining years left on the lease. There is not much else in Enfield for this price, so just wondered if I would be making a grave error acquiring a short lease?
Should you require a mortgage the remaining unexpired lease term will be a potential deal breaker. Discount the price by the expected lease extension will cost if not already taken into account. If the current proprietor has owned the property for at least twenty four months you could request that they start the process of the extension and then assign it to you. You can add 90 years to the existing lease and have £0 ground rent by law. You should speak to your conveyancing solicitor regarding this matter.
I am attracted to a couple of flats in Enfield which have in the region of forty five years left on the lease term. Should I regard a short lease as a deal breaker?
A lease is a right to use the premises for a period of time. As a lease gets shorter the marketability of the lease deteriorates and it becomes more expensive to extend the lease. This is why it is advisable to increase the term of the lease. More often than not it is difficulties arise selling premises with a short lease because mortgage lenders less inclined to grant a loan on such properties. Lease extension can be a difficult process. We advise that you seek professional assistance from a solicitor and surveyor with experience in this arena.
Notwithstanding our best efforts, we have been unsuccessful in trying to purchase the freehold in Enfield. Can this matter be resolved via the Leasehold Valuation Tribunal?
Most definitely. We are happy to put you in touch with a Enfield conveyancing firm who can help.
An example of a Lease Extension matter before the tribunal for a Enfield residence is First Floor Flat 109 Lyndhurst Road in May 2010. Following a vesting order by Edmonton County Court on 29th October 2009 the Tribunal decided on a figure of £5,012 for a lease extension. This case related to 1 flat. The unexpired lease term was 81.79 years.
I have finally had an offer on an maisonette in Enfield agreed to, the seller does nevertheless have a dependent purchase. The vendors have offered on somewhere, although it’s not been accepted yet, and are looking at other properties in the pipeline. I have chosen a local conveyancing solicitor in Enfield. What should be my next step? At what point should I apply for the mortgage with Nationwide?
It is usual to have concerns where there is an associated chain as you are unlikely to want to be too out of pocket too early (mortgage application is approx one thousand pounds, then valuation, Enfield conveyancing search charges, etc). The first course of action is to check that your property lawyer is on the Nationwide approved list. Concerning the next phase this very much depends on the specifics of your case, desire for this property and on the state of the market. In a buoyant market some home buyers would apply for a home loan with Nationwide and arrange for the valuation and only if it comes back ok would they ask their property lawyer to press on with searches.