My previous lawyer has sent a quote for £1150 for freehold conveyancing in Hedge End and Botley. I’m hoping to sell a Georgian detached home for £225,000. Are these conveyancing fees excessive? Is it in excess of the average fee for conveyancing in Hedge End and Botley?
The estimate does seem a tad overpriced. If you are willing to spend time comparing charges you could decrease the fees slightly by perhaps £125. That being said, you couldlive to rue choosing an a cheaper lawyer. If is important to check that the solicitor can act for your lender. You can utilise our comparison tool to select a Hedge End and Botley conveyancing practice on the banks approved list of lawyers which can often include conveyancing solicitors in Hedge End and Botley.
I am the registered owner of a freehold house in Hedge End and Botley but still pay rent, why is this and what is this?
It’s unusual for properties in Hedge End and Botley and has limited impact for conveyancing in Hedge End and Botley 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 have existed for many centuries, but the Rent Charge Act 1977 barred the generation of fresh rentcharges post 1977.
Old rentcharges can now be redeemed by making a one off payment under the Act. Any rentcharges that are still in existence post 2037 will be extinguished.
I'm buying my first flat in Hedge End and Botley with a loan from The Royal Bank of Scotland. The builders refused to reduce the amount so I negotiated 6k of extras instead. The property agent suggested that I not to tell my conveyancer about this extras as it could jeopardize my loan with The Royal Bank of Scotland. 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.
Given that I am about to part with 450k on a property in Hedge End and Botley I would like to have a conversation with the lawyer concerning thetransaction ahead of giving the go ahead to the firm. Can this be arranged?
Absolutely - we would be delighted to talk to you we do not take any clients on without you first talking to the lawyer who will be carrying out your conveyancing in Hedge End and Botley.There is no ‘factory style conveyancing’ - every client is an important individual, not a file number. The practices that we put you in touch with believe that the figure you are calculated and presented to you for your conveyancing in Hedge End and Botley should be the figure that you are charged.
I am a negotiator for a reputable estate agency in Hedge End and Botley where we have experienced a few flat sales jeopardised as a result of short leases. I have received inconsistent advice from local Hedge End and Botley conveyancing solicitors. Can you clarify whether the seller of a flat can initiate the lease extension formalities for the purchaser on completion of the sale?
As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser need not have to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or at the same time as completion of the sale.
Alternatively, it may be possible to agree the lease extension with the freeholder 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 purchaser.
I bought a split level flat in Hedge End and Botley, conveyancing formalities finalised 8 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? Equivalent properties in Hedge End and Botley with over 90 years remaining are worth £191,000. The ground rent is £55 charged once a year. The lease finishes on 21st October 2079
You have 53 years remaining on your lease we estimate the premium for your lease extension to span between £27,600 and £31,800 plus professional fees.
The figure 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 detailed investigations. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. You should not move forward based on this information before getting professional advice.
At last I have had an offer on an maisonette in Hedge End and Botley agreed to, the seller does nevertheless have a tied purchase. The owners have offered on on an apartment, however it’s not been accepted yet, and has viewings of other properties in the pipeline. I have selected a local conveyancing lawyer in Hedge End and Botley. What do I do now? When do I get the mortgage application with HSBC going with HSBC?
It is understandable to have anxieties where there is an associated chain given your reluctance to be too out of pocket too early (mortgage application is approx £1k, then valuation, Hedge End and Botley conveyancing search fees, etc). The first course of action is to ensure that your conveyancer is on the HSBC approved list. As to the subsequent steps this very much dictated by the uniqueness of your case, desire for this property and on the state of the market. In a rising market the majority of purchasers will apply for a home loan with HSBC and pay for the valuation and only if it comes back ok would they ask their solicitor to move forward with the conveyancing in Hedge End and Botley.