Why do I have to pay up front when it comes to conveyancing in Frenchay?
Where you are retaining lawyers for conveyancing in Frenchay your lawyer will ask you place them with monies to cover the the cost of the conveyancing searches. This will be the total of the cost of the conveyancing searches. When the down payment is as part of the purchase price then this should be required shortly ahead of exchange of contracts. The final balance that is needed should be sent to your lawyer shortly before completion.
Various internet forums that I have visited warn that are a common cause of hinderance in Frenchay house deals. Is that correct?
The Council of Property Search Organisations (CoPSO) published findings of a review by MoveWithUs that conveyancing searches do not feature amongst the most frequent causes of hindrances in the conveyancing process. Searches are unlikely to feature in any slowing down conveyancing in Frenchay.
My wife and I purchased a renovated Victorian house in Frenchay. Conveyancing lawyer represented me and Platform Home Loans Ltd. I did a free Land Registry search last week and I saw two entries: the first freehold, another for leasehold under the matching property. I thought I was buying a freehold how can I check?
You need to assess the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Frenchay and other areas of the country and poses no real issues for owners other than when they buy they have to account for both freehold and leasehold interests when dealing with buyers. You can also question the situation with your conveyancing solicitor who conducted the purchase.
I am purchasing a new build house in Frenchay with a mortgage from Birmingham Midshires. The developers refused to move on the price so I negotiated £7000 of additionals instead. The property agent advised me not inform my solicitor about this extras as it could adversely affect my loan with the bank. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
How difficult is it to change firm as I need to instruct one who is on the Virgin Money conveyancing list. I was using a family conveyancing solicitor in Frenchay five minutes from me but the firm is not accepted by Virgin Money
It would be our pleasure to assist you find a conveyancing solicitor in Frenchay on the Virgin Money panel. Please note that the property lawyers that we work with do not pay us a referral fee if you instruct them and are fully regulated by the SRA who regulate all conveyancing solicitors in Frenchay. In making use of search facility on this page, you can compare charges for conveyancing solicitors in Frenchay and beyond.
Can you offer any advice when it comes to appointing a Frenchay conveyancing firm to deal with our lease extension?
When appointing a solicitor for your lease extension (regardless if they are a Frenchay conveyancing firm) it is most important that they be familiar with the legislation and specialises in this area of work. We suggest that you speak with several firms including non Frenchay conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. The following questions might be helpful:
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If they are not ALEP accredited then why not?
I acquired a basement flat in Frenchay, conveyancing was carried out 9 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? Comparable flats in Frenchay with a long lease are worth £176,000. The ground rent is £50 invoiced every year. The lease expires on 21st October 2075
With 50 years left to run we estimate the premium for your lease extension to be between £31,400 and £36,200 as well as legals.
The figure that we have given is a general guide to costs for extending a lease, but we are not able to supply a more accurate figure without more comprehensive investigations. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information without first getting professional advice.