The conveyancer who assisted with my former purchase has sent a quote for £1700 for leasehold conveyancing in Enfield Highway. I am hoping to downsize from a newly refurbished house for £200,000. Are the quoted fees excessive? Is it in excess of the average fee for conveyancing in Enfield Highway?
The estimate does seem marginally overpriced. Where you are prepared to spend time scrutinising quotes you may be able to get the conveyancing a bit cheaper by as much as a hundred pounds. That being said, you mightlive to rue opting for an a cheaper lawyer. If is important to be sure the conveyancer can represent your bank. Do utilise our comparison tool to get a quote a Enfield Highway conveyancing firm on the banks member panel which can often include conveyancing solicitors in Enfield Highway.
Our Enfield Highway conveyancer has uncovered an inconsistency between the assumptions in the valuation report and what is revealed within the legal papers for the property. My solicitor says that he is duty bound to ensure that the bank is happy with this discrepancy and is still content to lend. Is my solicitor’s course or action correct?
Your property lawyer must comply with the UK Finance Lenders’ Handbook conditions which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.
When it comes to lenders such as Nottingham, do Enfield Highway conveyancers incur a fee to be on the conveyancing panel?
We are not aware of any bank fees to be on their panel, although some do charge an administration fee to deal with the processing of the conveyancing panel application.
We previously selected conveyancers based in Enfield Highway on the Virgin Money solicitor approved list. They are now charging me a supplemental amount for handling the Virgin Money mortgage. Is this an additional conveyancing fee set by Virgin Money?
As unfair as it may seem, as long as it’s in their Terms and Conditions or Quote then yes your property lawyer may levy a fee for this. The fee is not dictated by Virgin Money but by your Enfield Highway lawyer. Plenty of firms on the Virgin Money panel will charge an ‘acting for lender’ fee and others do not.
I can not fathom if my mortgage offer requires a lease extension. I have called my Enfield Highway building society branch on numerous occasions and was informed it wasn't a problem and they will lend. My Enfield Highway conveyancing solicitor - who is on the mortgage company conveyancing panel- telephoned and was told they refuse to lend in accordance with their UK Finance Lenders’ Handbook minimum lease term requirements. I simply don't know who is right.
Your property lawyer must follow the CML Handbook section two provisions for your bank. Unless your lawyer obtains specific confirmation in writing that the bank will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the mortgage company to contact your lawyer in writing confirming that they will accept the number of years remaining.
I require fast conveyancing in Enfield Highway as I have a deadline to exchange contracts inside one month. Thankfully I do not need a mortgage. Is it possible to escape the need for conveyancing searches to save money and time?
As you are not obtaining a home loan you have the choice not to do searches although no conveyancer would advise that you don't. Drawing on our experience of conveyancing in Enfield Highway the following are examples of issues that can show up and adversely affect future mortgageability: Enforcement Actions, Outstanding Charges, Outstanding Grants, Unadopted Roads,...
I decided to have a survey completed on a house in Enfield Highway in advance of retaining lawyers. I have been told that there is a flying freehold aspect to the property. Our surveyor advised that some banks tend refuse to grant a mortgage on this type of house.
It depends who your proposed lender is. Santander has different requirements for example to Birmingham Midshires. If you call us we can check via the appropriate bank. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Enfield Highway. Conveyancing may be slightly more expensive based on your lender's requirements.
Do you have any advice for leasehold conveyancing in Enfield Highway from the perspective of speeding up the sale process?
- Much of the delay in leasehold conveyancing in Enfield Highway can be reduced where you get in touch lawyers as soon as your agents start marketing the property and ask them to put together the leasehold information needed by the purchasers’ representatives. If you have carried out any alterations to the property would they have required Landlord’s approval? In particular have you laid down wooden flooring? Enfield Highway leases often stipulate that internal structural alterations or installing wooden flooring calls for a licence issued by the Landlord approving such changes. If you dont have the approvals to hand do not communicate with the landlord without checking with your conveyancer before hand. You may think that you are aware of the number of years remaining on your lease but it would be advisable verify this by asking your solicitors. A purchaser's conveyancer will be unlikely to recommend their client to where the remaining number of years is less than 80 years. In the circumstances it is important at an early stage that you identify whether the lease requires a lease extension. If it does, contact your solicitors before you put your premises on the market for sale. If there is a history of any disputes with your landlord or managing agents it is essential that these are resolved prior to the flat being marketed. The buyers and their solicitors will be reluctant to purchase a property where there is a current dispute. You may have to bite the bullet and pay any arrears of service charge or resolve the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose particulars of the dispute to the purchasers, but it is better to reveal the dispute as over rather than unsettled.
I have tried to negotiate informally with with my landlord for a lease extension without any joy. Can a leaseholder make an application to the Leasehold Valuation Tribunal? Can you recommend a Enfield Highway conveyancing firm to assist?
Absolutely. We are happy to put you in touch with a Enfield Highway conveyancing firm who can help.
An example of a Vesting Order and Purchase of freehold decision for a Enfield Highway flat is Ground Floor Flat 4A Baronet Road in February 2010. Following a vesting order by Edmonton County Court on 23rd December 2008 (case number 8ED064) the Tribunal decided that the price that the Applicant for the freehold interest should pay is £8,689.00 This case affected 2 flats. The unexpired residue of the current lease was 80.01 years.