Can you explain why leasehold purchase conveyancing in Great Harwood costs more?
The conveyancing fees on a leasehold premises in Great Harwood is often higher when contrasted to a freehold transaction. This is due to the extra work required in corresponding with the landlord and management company to collate the information about whether the rent and service fee have been paid and whether there are any large sums expected to be spent in the near future on repairs or maintenance of the building.
After scouring online forums for a cheap solicitor in Great Harwood, many advise that I should look for a CQS accredited lawyer. Can you explain what CQS is?
The Conveyancing Quality Scheme (CQS) provides a recognised quality standard for residential conveyancing practices issued by the Law Society. Membership achievement establishes a level of credibility for member firms with stakeholders (regulators, lenders, insurers and consumers) based upon: * the integrity of the senior responsible officer and other key conveyancing staff * the firm's adherence to good practice management standards * compliance with best practice conveyancing procedures through the scheme protocol the standard covers numerous companies who execute conveyancing in Great Harwood.
I am buying a end of terrace house in Great Harwood. The intention is to convert the garage to a playroom at the house.Will legal investigations on the property include enquiries to see if these works are permitted?
Your solicitor should review the registered title as conveyancing in Great Harwood will on occasion identify restrictions in the title documents which prohibit categories of alterations or need the consent of another owner. Many additions call for local authority planning consent and approval in accordance building regulations. Some areas are designated conservation areas and special planning restrictions apply which frequently prevent or affect extensions. It would be prudent to check these things with a surveyor prior to committing yourself to a purchase.
It is not clear whether my lender requires a lease extension. I have called into my local Great Harwood bank branch on numerous occasions and was told it does not affect the mortgage offer and they will lend. My Great Harwood conveyancing solicitor - who is on the bank conveyancing panel- called to say that they refuse to lend based on their published requirements. Who do I believe?
As long as the lawyer is on the bank approved list, she or he must comply with the Council of Mortgage Lenders’ Handbook specifications for the lender. 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 bank to contact your lawyer in writing confirming that they will accept the number of years remaining.
I have instructed a Great Harwood property lawyer having checked that they are on the Kent Reliance conveyancing panel. Does my lawyer arrange the survey of the property?
Kent Reliance will need an independent valuation of the property. Your lawyer will not arrange this. Usually Kent Reliance will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. You may wish to consider appointing your own Great Harwood surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
In my capacity as executor for the will of my grandfather I am selling a house in Swansea but live in Great Harwood. My solicitor (approximately 250 kilometers awayhas requested that I execute a stat dec ahead of the transaction finalising. Could you suggest a conveyancing solicitor in Great Harwood to attest this legal document for me?
strictly speaking you should not be required to have the documents attested by a conveyancing solicitor. Ordinarily or notary public or solicitor will suffice regardless of whether they are Great Harwood based
I am a negotiator for a busy estate agency in Great Harwood where we see a number of leasehold sales jeopardised due to short leases. I have been given conflicting advice from local Great Harwood conveyancing firms. Please can you clarify whether the vendor of a flat can instigate the lease extension formalities for the purchaser on completion of the sale?
As long as the seller has been the owner 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. This means that the proposed purchaser can avoid having 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 at the same time as completion of the sale.
Alternatively, it may be possible 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 am the registered owner of a 1st floor flat in Great Harwood, conveyancing having been completed half a dozen years ago. Can you let me have an estimated range of the fair premium for a lease extension? Comparable flats in Great Harwood with over 90 years remaining are worth £201,000. The average or mid-range amount of ground rent is £45 levied per year. The lease runs out on 21st October 2090
With only 65 years remaining on your lease we estimate the price of your lease extension to span between £13,300 and £15,400 plus plus your own and the landlord's "reasonable" professional fees.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of comprehensive investigations. Do not use this information in tribunal or court proceedings. There may be other concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information before getting professional advice.
When it comes to my conveyancing in Great Harwood should I be paying VAT on the following: (1) Land reg fee on purchase (2) Pre - completion search fee (3) SDLT E submission on purchase (4) Bank TT fee
(1) Land reg fee on purchase - No (2) Pre - completion search fees -No, (such conveyancing searches are HMLR ones and means £4 and possibly £2 bankruptcy per name on your mortgage) (3) SDLT E submission on your purchase - There is no VAT on Stamp Duty. However if the firm is charging a stamp duty e-submission fee as part of their services - some Great Harwood conveyancers do - that will incur VAT(4) Bank transfer fee - Yes it is for the property lawyer's time in submitting the funds this way.