Recently contacted my conveyancing lawyer in Kidlington who completed the legal work 18 months ago asking for a conveyancing quote based on an identical type of house sale & purchase (a leasehold residence and a freehold premises) of almost identical values with a mortgage from Godiva Mortgages Ltd. It looks as though am now being quoted twice the amount. Am I right to be tempted to shop around for an alternative firm of conveyancing solicitor?
The estimate does seem a little on the high side. If you you were to look around you could shave off some of the expense by say £100 plus VAT. That being said, if you were satisfied with the legal work the firm gave you mightcome to regret opting for an an unknown conveyancer. If is important to check that the solicitor can represent Godiva Mortgages Ltd. Do use our search tool to choose a Kidlington conveyancing firm on the Godiva Mortgages Ltd approved list of lawyers, which can often include conveyancing solicitors in Kidlington.
Due to move into my new home in Kidlington next Monday. I have now been asked to send a copy of my building insurance schedule by my solicitor as as she informs me that she is duty bound to validate that it is in order for the bank. What risks does the mortgage company expect the insurance to cover?
All property lawyers on acting for lenders would need to check that the following risks are covered fire; lightning; aircraft; explosion; earthquake; storm; flood; escape of water or oil; riot; malicious damage; theft or attempted theft; falling trees and branches and aerials; subsidence; heave;landslip;collision;accidental damage to underground services;professional fees, demolition and site clearance costs; and public liability to anyone else. There are some other issues such as the level of excess that are set out in a lender’s UK Finance Lenders’ Handbook instructions. These obligations are not specific to conveyancing in Kidlington.
Should my solicitor be making enquiries about flooding during the conveyancing in Kidlington.
Flooding is a growing risk for conveyancers specialising in conveyancing in Kidlington. There are those who buy a house in Kidlington, fully expectant that at some time, it may be flooded. However, leaving to one side the physical destruction, if a property is at risk of flooding, it may be difficult to get a mortgage, adequate building insurance, or dispose of the premises. Steps can be carried out as part of the conveyancing process to forewarn the purchaser.
Conveyancers are not qualified to offer advice on flood risk, but there are a various searches that may be carried out by the buyer or by their lawyers which should figure out the risks in Kidlington. The standard completed inquiry forms sent to a buyer’s conveyancer (where the Conveyancing Protocol is adopted) includes a standard question of the vendor to determine whether the property has suffered from flooding. If the property has been flooded in past which is not revealed by the vendor, then a purchaser may commence a compensation claim as a result of such an incorrect answer. A buyer’s conveyancers should also order an enviro report. This should higlight whether there is a recorded flood risk. If so, further investigations will need to be made.
I used Arc property Solicitors several years past for my conveyancing in Kidlington. I now require my papers however the law firm is no longer operating. What do I do?
You should contact the Solicitors Regulatory Authority (SRA) to assist in tracing your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Kidlington of the conveyancing firm of solicitors you previously retained, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
Taking into account that I will soon part with hundreds of thousands of pounds on a house in Kidlington I would like to have a conversation with the conveyancer concerning thehome move ahead of appointing the firm. Is this something that you can arrange?
We could not agree more - we would be pleased to talk to you we do not take any clients on without you first talking to the conveyancer who will be carrying out your conveyancing in Kidlington.There is no ‘factory style conveyancing’ - every client is unique 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 Kidlington should be the amount on the final invoice that you end up paying.
I am a negotiator for a reputable estate agent office in Kidlington where we have experienced a few leasehold sales put at risk as a result of leases having less than 80 years remaining. I have received inconsistent advice from local Kidlington conveyancing firms. Can you clarify whether the vendor of a flat can commence the lease extension process 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 buyer can avoid having to sit tight for 2 years for a lease extension. 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 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 own a 1 bedroom flat in Kidlington, conveyancing was carried out in 1997. Can you let me have an estimated range of the fair premium for a lease extension? Equivalent properties in Kidlington with an extended lease are worth £201,000. The ground rent is £45 yearly. The lease expires on 21st October 2089
You have 64 years left to run we estimate the premium for your lease extension to be between £14,300 and £16,400 plus legals.
The figure that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of detailed due diligence. Do not use this information in tribunal or court proceedings. There are no doubt additional concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Neither should you move forward based on this information before getting professional advice.