Just been in touch with my conveyancing lawyer in Felpham who acted for me 18 months ago requesting a conveyancing quote based on the same type of house move (a leasehold residence and a freehold property) of almost identical values with a home loan from Santander. I am now being charged double. Better the devil I know or should I try and find a cheaper internet property lawyer?
The quote is slightly on the high side. Where you are happy to expend time scrutinising charges you may be able to reduce the fees marginally by perhaps £100 plus VAT. On the other hand, assuming were pleased with the legal work the firm offered you mightlive to regret opting for an an untested solicitor. If is important to ensure that the firm can also act for Santander. Do make use of our search tool to locate a Felpham conveyancing firm on the Santander approved list of lawyers, which can often include conveyancing solicitors in Felpham.
I purchased a freehold house in Felpham yet invoiced for rent, why is this and what is this?
It’s unusual for properties in Felpham and has limited impact for conveyancing in Felpham 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 date back hundreds of years, but the Rent Charge Act 1977 barred the generation of new rentcharges post 1977.
Previous rentcharges can now be redeemed by making a one off payment under the Act. Any rentcharges that are still in existence after 2037 is to be extinguished.
I had intended to instruct a property lawyer in Felpham for our home move. Our broker informed us that our bank The Mortgage Works won't deal with them. Surely this is unfair competition?
Banks tend to restrict either the category or the amount of conveyancing firms on their member panel. Typical examples of such restriction(s) being that a firm must have two or more partners. As well as restricting the profile of firm, a few lenders have reduced the number of firms they allow to act for them. Be aware that The Mortgage Works have no responsibility for the quality of advice provided by any member of The Mortgage Works Conveyancer Panel. Mortgage fraud was a primary driver in the reduction of conveyancing panels a few years ago even though there remains mixed views about the extent of solicitor involvement in some of that fraud. Data from the Land Registry indicate that thousands of law firms, including some in or near Felpham only conduct one or two conveyances per annum.
This question may be naive but I am wet behind the ears as a 1st time buyer of a garden flat in Felpham. Do I receive the keys to the house on completion from my lawyer? If this is the case, I will instruct a High Street conveyancing solicitor in Felpham?
On the day of completion you will not be required to attend the conveyancers office in Felpham. Your solicitors will electronically transfer the purchase money to the seller's lawyers, and once they have received this, you will be invited to collect the keys from the selling Agents and move into your new home. This tends to happen between 1 and 3pm.
We have agreed to purchase a house in Felpham. A rare aspect is that the roof has a solar panel. Santander have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
Given that you are obtaining a mortgage with Santander your lawyer must check the formal requirements outlined in Part two of UK Finance Lenders’ Handbook for Santander. The Council of Mortgage Lenders’ Handbook stipulates minimum provisions for solar panel roof-space leases, and solicitors are required to report to Santander where a lease fails to meet these requirements. The specifications relate to the installation of panels on properties in England and Wales and is not isolated to Felpham.
My wife and I are in the throws of looking at houses in Felpham and I am now considering a potential offer. Is it premature to have a solicitor in place? I will be getting a mortgage with RBS.
You should start requesting conveyancing quotes from solicitors ASAP. Once you decide who you want to use and once your offer is accepted you can instruct them to work for you and forward their details on to the estate agent. As you are taking out a mortgage with RBS, ask your prospective lawyers if they are on the RBS conveyancing panel otherwise they can't do the mortgage legal work.
Over the last few months I have been searching for a flat up to £195,000 and found one round the corner in Felpham I like with a park and transport links nearby, the downside is that it's only got 61 years on the lease. There is not much else in Felpham suitable, so just wondered if I would be making a mistake purchasing a lease with such few years left?
If you require a home loan that many years may be problematic. Discount the price by the expected lease extension will cost if it has not already been discounted. If the existing owner has owned the property for a minimum of 2 years you can request that they start the process of the extension and pass it to you. You can add 90 years to the existing lease term and have £0 ground rent by law. You should consult your conveyancing lawyer about this matter.
Completion is due on the disposal of our £375,000 apartment in Felpham in just under a week. The managing agents has quoted £360 for Certificate of Compliance, insurance certificate and 3 years service charge statements. Is the landlord entitled to charge such fees for a flat conveyance in Felpham?
For the majority of leasehold sales in Felpham conveyancing will involve, questions about the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :
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Addressing conveyancing due diligence enquiries
Where consent is required before sale in Felpham
Supplying insurance information
Deeds of covenant upon sale
Registering of the assignment of the change of lessee after a sale
I invested in buying a studio flat in Felpham, conveyancing was carried out 3 years ago. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Similar flats in Felpham with a long lease are worth £211,000. The ground rent is £45 charged once a year. The lease expires on 21st October 2092
With 67 years remaining on your lease we estimate the price of your lease extension to range between £10,500 and £12,000 as well as legals.
The figure that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs without more comprehensive due diligence. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Neither should you move forward based on this information before seeking the advice of a professional.