Recently been in touch with my conveyancing lawyer in Horsforth who completed the legal work two years ago and wanted a conveyancing estimate based on an identical type of home move (a leasehold premises and a freehold property) of almost identical values with a mortgage from Britannia. It looks as though am now being quoted twice the amount. Better the devil I know or should I try and find an alternative firm of conveyancing solicitor?
The estimate does seem a little overpriced. If you you were to look around you could decrease the fees slightly by as much as £125. On the other hand, providing that you were satisfied with the legal work the firm gave you maycome to regret opting for an an untested solicitor. If is important to be sure that the solicitor can act for Britannia. You can use our search tool to find a Horsforth conveyancing firm on the Britannia member panel, which can often include conveyancing solicitors in Horsforth.
I just bought a property at auction in Horsforth. Conveyancing is needed. What are my next steps?
Having for in every practical sense signed on the dotted line you should find a conveyancing practitioner soon as you are facing a fast approaching a fixed date to complete the transaction. All auction property will have an associated legal set of papers. This will likely include the copy title deeds, local authority and drainage searches. In the case of leasehold property the conveyancing pack may contain a copy of the lease, management information and a sellers leasehold information form and other conveyancing paperwork pertinent to leasehold premises. You should give this to your appointed conveyancing solicitor at the earliest opportunity. Do make sure that that you have the requisite funding in order to complete on the date specified in the contract.
Is it correct that all Horsforth CQS (Conveyancing Quality Scheme) solicitors are on the RBS conveyancing panel?
Some major banks and building societies now use CQS as the kick off point for Panel membership such as HSBC and Santander. CQS accreditation however is no guarantee to lender panel acceptance. Nevertheless,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for firms wishing to join their panels.
Santander have agreed my mortgage in principle, my bid on a apartment in Horsforth has been accepted, what happens next?
The estate agent will want to be advised as to your conveyancing practitioner's details (ensure that the lawyers are on the lender’s approved list). Call up Santander or your broker and finish off any outstanding paperwork. Santander will sellect a valuer who will get in contact with the estate agent or vendor to schedule a slot for the valuation to occur. Once carried out (assuming no problems) it takes about a fortnight to receive the mortgage offer. Santander will send the offer to you and your conveyancers. The legal work will then take it’s course according the nature and complexity of the conveyancing in Horsforth.
I have been on the look out for a flat up to £245,000 and found one close by in Horsforth I like with amenity areas and transport links nearby, however it's only got 61 remaining years left on the lease. I can't really find anything else in Horsforth suitable, so just wondered if I would be making a mistake acquiring a lease with such few years left?
Should you require a mortgage the shortness of the lease will likely be problematic. Discount the offer by the anticipated lease extension will cost if it has not already been discounted. If the existing proprietor has owned the premises for at least twenty four months you may request that they commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the existing lease with a zero ground rent applied. You should speak to your conveyancing solicitor about this matter.
I'm remortgaging my existing home to a buy to let mortgage with Nationwide Building Society and I will use the ballance of the raised equity as a deposit on further house. The location we are talking about is Horsforth. Will your conveyancers be able to act for the two banks and link together the conveyances?
Do use our search tool on this page to ensure that the conveyancers are on the appropriate lender panels. On the basis that they are your lawyer should be able to simultaneously deal with the two conveyancing matters but you should have a chat with you conveyancer and specify your desired outcome and needs.
We're new to the buying process - agreed a price, but the property agent informed us that the vendor will only proceed if we instruct the agent's chosen conveyancers as they want an ‘expedited deal’. Our preferred option is to instruct a family solicitor with experience of conveyancing in Horsforth
We suspect that the seller is unaware of this demand. If they desire ‘a quick sale', alienating a genuine buyer is is going to put the whole deal at risk. Contact the vendors directly and make sure they understand (a)you are genuine purchasers (b)you are ready to progress, with mortgage lined up © you do not need to sell (d) you intend to proceed fast (e)but you intend to instruct your own,trusted Horsforth conveyancing solicitors - as opposed tothose that will give their negotiator at the agency a referral fee or hit his conveyancing figures pre-set by senior management.
I work for a reputable estate agency in Horsforth where we have witnessed a few leasehold sales derailed due to short leases. I have been given inconsistent advice from local Horsforth 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 been the owner 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. This means that the proposed purchaser need not have to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done 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 purchaser.
I purchased a basement flat in Horsforth, conveyancing having been completed half a dozen years ago. Can you work out an approximate cost of a lease extension? Corresponding properties in Horsforth with an extended lease are worth £190,000. The average or mid-range amount of ground rent is £45 yearly. The lease finishes on 21st October 2087
With only 62 years left to run we estimate the price of your lease extension to range between £17,100 and £19,800 as well as professional fees.
The suggested premium range above a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of comprehensive investigations. Do 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 should be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information without first seeking the advice of a professional.