AssumingI were to buy a straightforward propertyin Ladywell mortgage fee and dispense with a survey and no local authority searches how much could I expect to have to pay for conveyancing in Ladywell?
The sole saving you would make on is the Ladywell conveyancing searches. The lawyer still got to do everything else - money laundering, correspond with the vendors conveyancing practitioner, SDLT return, register the title etc. You might save a bit for them not having to register a charge however it won't be meaningful.
Over the last few months I have been searching for a leasehold apartment up to £195,000 and identified one round the corner in Ladywell I like with open areas and railway links in the vicinity, however it only has 52 years on the lease. There is not much else in Ladywell for this price, so just wondered if I would be making a mistake acquiring a lease with such few years left?
If you need a mortgage that many years will likely be an issue. Reduce the offer by the anticipated lease extension will cost if it has not already been discounted. If the existing owner has owned the property for at least 2 years you may ask them to start the process of the extension and pass it to you. An additional ninety years can be extended on to the current lease term and have £0 ground rent by law. You should consult your conveyancing solicitor about this matter.
What tools are available to locate a Ladywell solicitor on the Bank of Scotland conveyancing panel? I drive a motor bike and am prepared to travel upto 10miles to meet the solicitor.
You can use the facility on this page. Please pick a bank and your location and you will see a number of Ladywell conveyancing lawyers locally. We have listed some Ladywell conveyancing firms at the bottom of this page and you can telephone them to verify whether they are on the Bank of Scotland panel
My uncle has recommend that I instruct his conveyancers in Ladywell. Do I follow his recommendation?
No doubt it’s preferable to find a conveyancing solicitor is to get guidance from friends or relatives who have actually experience in using the conveyancer that you are contemplating using.
What are your top tips when it comes to finding a Ladywell conveyancing firm to deal with our lease extension?
If you are instructing a conveyancer for your lease extension (regardless if they are a Ladywell conveyancing practice) it is most important that he or she should be familiar with the legislation and specialises in this area of work. We suggest that you make enquires with two or three firms including non Ladywell conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. The following questions could be useful:
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How familiar is the firm with lease extension legislation? If they are not ALEP accredited then what is the reason?
I own a basement flat in Ladywell. In the absence of agreement between myself and the freeholder, can the Leasehold valuation Tribunal determine the sum due for a lease extension?
if there is a absentee landlord or where there is dispute about the premium for a lease extension, under the relevant legislation you can apply to the LVT to judgment on the price.
An example of a Freehold Enfranchisement case for a Ladywell property is 44 Elmer Road in January 2013. The Tribunal dacied that amount to be paid by the Leaseholders for the Landlords freehold reversion was £12,951 as at the valuation date (20" September 2012).This matter was referred back to the Bromley County Court to deal with costs, fees and any other outstanding matters. This case related to 2 flats. The unexpired residue of the current lease was 74.25 years.
I am due to assess costs for conveyancing in Ladywell from various property lawyer and decide on one. Am I right to get them to hold tight until I I have an offer accepted on a house.
We suggest that you only get your lawyer to open a file and apply for searches once the sales memo has been issued by the selling agent especially as Ladywell conveyancing searches are a couple of hundred pounds.