The solicitor who assisted with my former purchase has sent a quote for just over a thousand pound for no sale no fee conveyancing in Goodrich. I’m selling a Georgian detached home for £275,000. Is this expensive? Is it in excess of the average fee for conveyancing in Goodrich?
The estimate does seem a tad steep. If you shop around you may be able to get the conveyancing a bit cheaper by perhaps £125. On the other hand, you couldcome to rue choosing an an unknown solicitor. Don't forget to be sure the conveyancer can act for your lender. Do employ our search tool to select a Goodrich conveyancing firm on the banks approved list of lawyers which can often include conveyancing solicitors in Goodrich.
In what way does my ID and proof of funds have anything to do with my conveyancing in Goodrich? Is this really necessary?
In order to comply with Money Laundering Regulations any Goodrich conveyancing firm will require proof of identity in all conveyancing transactions. This is normally satisfied by provision of a passport and an original bank statement or utility account evidencing your correct address.
Under Money Laundering Regulations, conveyancing solicitors are required to ascertain not only the identity of conveyancing clients but also the source of fund that they receive in respect of any matter. An unwillingness to disclose this will result in your conveyancer terminating their retainer with you, as clearly this will cause a conflict between the set Regulations and a refusal to disclose.
Your property lawyers are duty bound to notify the relevant authorities should they believe that any amounts received by them may contravene the Anti-terror and anti-money-laundering rules.
I'm buying a new build house in Goodrich with a loan from Halifax. The sellers would not budge the amount so I negotiated five thousand pounds worth of extras instead. The property agent advised me not to tell my solicitor about the deal as it could jeopardize my loan with the bank. Do I keep my lawyer in the dark?.
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.
I decided to have a survey carried out on a house in Goodrich prior to appointing lawyers. I have been advised that there is a flying freehold aspect to the property. Our surveyor has said that some banks will not give a loan on such a property.
It varies from the lender to lender. Santander has different requirements from Nationwide. If you contact us we can check via the appropriate lender. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Goodrich. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Goodrich to see if the conveyancing costs will increase in light of this.
What does commercial conveyancing in Goodrich cover?
Goodrich conveyancing for business premises covers a broad array of advice, offered by regulated solicitors, relating to business property. For instance, this area of conveyancing can cover the sale or purchase of freehold business premises or, more usually, the transfer of existing business tenancies or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial mortgages and the termination of leases.
I am a negotiator for a long established estate agency in Goodrich where we see a few leasehold sales jeopardised as a result of short leases. I have received inconsistent advice from local Goodrich conveyancing firms. Please can you confirm whether the seller of a flat can initiate the lease extension process for the purchaser on completion of the sale?
Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer need not have to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or simultaneously with completion of the disposal of the property.
An alternative approach is to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.
I acquired a 1st floor flat in Goodrich, conveyancing having been completed September 2002. Can you please calculate a probable premium for a statutory lease extension? Similar properties in Goodrich with over 90 years remaining are worth £207,000. The ground rent is £60 per annum. The lease ends on 21st October 2082
With just 57 years remaining on your lease the likely cost is going to be between £28,500 and £33,000 as well as costs.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of detailed due diligence. Do not use the figures in tribunal or court proceedings. There may be additional concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. You should not take any other action based on this information without first seeking the advice of a professional.