My family lawyer has quoted £995 for fixed fee conveyancing in Houghton Le Spring. I am hoping to downsize from a modern property for £225,000. Are these conveyancing fees excessive? Is it in excess of what I should be paying for conveyancing in Houghton Le Spring?
The charges are a little high. If you shop around you might decrease the fees marginally by say £125. On the other hand, you maylive to rue choosing an a cheaper solicitor. Remember to be sure the solicitor can also act for your mortgage company. You can utilise our search tool to select a Houghton Le Spring conveyancing company on the banks conveyancing panel which can often include conveyancing solicitors in Houghton Le Spring.
Why is leasehold purchase conveyancing in Houghton Le Spring costs more?
Houghton Le Spring leasehold properties involve far more paperwork than a freehold purchase, and therefore takes more time to examine and advise upon.Conveyancing will involve the lease having to be checked which is usually a lengthy document, queries raised to ensure that the covenants and conditions have been observed. If it is a flat there will be a management company in existence and the accounts of this will need to be checked and enquiries raised to ensure it is operating efficiently and that all monies due have been paid by the Seller to the company and if not ensuring that money is paid up to date or the appropriate undertakings obtained.
I decided to have a survey completed on a property in Houghton Le Spring before appointing solicitors. I have been informed that there is a flying freehold element to the property. The surveyor advised that some lenders may not give a loan on a flying freehold home.
It varies from the lender to lender. Santander has different requirements from Halifax. Should you wish to call us we can check with the relevant bank. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Houghton Le Spring. Conveyancing will be smoother if you use a solicitor in Houghton Le Spring especially if they are familiar with such properties in Houghton Le Spring.
My father has recommend that I appoint his lawyers for conveyancing in Houghton Le Spring. Should I find my own solicitor?
No doubt it’s preferable to find a conveyancing solicitor is to get feedback from friends or relatives who have previously instructed the conveyancer that you are considering.
Having had my offer accepted I require leasehold conveyancing in Houghton Le Spring. Before I set the wheels in motion I want to be sure as to the unexpired term of the lease.
Assuming the lease is recorded at the land registry - and almost all are in Houghton Le Spring - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
I inherited a ground floor flat in Houghton Le Spring, conveyancing was carried out half a dozen years ago. Can you give me give me an indication of the likely cost of a lease extension? Comparable flats in Houghton Le Spring with over 90 years remaining are worth £179,000. The average or mid-range amount of ground rent is £65 invoiced every year. The lease terminates on 21st October 2082
You have 57 years unexpired we estimate the premium for your lease extension to range between £26,600 and £30,800 plus 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 without more detailed due diligence. You should not use this information in tribunal or court proceedings. There may be additional issues that need to be considered and you obviously should be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information before getting professional advice.
What can I do to establish who owns a property in Houghton Le Spring?
Assuming that the premises is registered with HM Land Registry, and you have requisite information of the address of the premises, you will be able to view details from the the Land Registry of the recorded proprietor for a for less than a fiver.