We were about to instruct a conveyancing solicitor in Leicestershire listed by you but stumbled across alternative estimates via the web seem less expensive – why is this?
There are plenty of solicitors advertising supposedly £99 conveyancing, but supplementalcosts end up with the final bill markedly uplifted. In accordance with regulatory requirements charges set out in terms and conditions should be transparent and reasonable and be applied The conveyancers that we list for conveyancing in Leicestershire genuinely set out all charges for the property you plan topurchase.
All was ready to move into my new home in Leicestershire next Thursday. I have now been asked to send a copy of my building insurance schedule by my solicitor as he says that he has to check this in his capacity as lawyer for the bank. What risks does the bank expect the insurance to cover?
All property lawyers on acting for mortgage companies 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 Part 2 instructions. These obligations are not unique to conveyancing in Leicestershire.
I am buying a new build flat in Leicestershire. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build legal work.
Here is a sample of a selection of leasehold new build questions that you can expect your new-build leasehold conveyancing in Leicestershire
-
Forfeiture - bankruptcy or liquidation must not apply under this provision. If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. There must be mutual enforceability of lessee’s covenants. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme.
Taking into account that I am about to part with over three hundred thousand on a two bedroom apartment in Leicestershire I wish to talk to a conveyancer concerning theconveyancing prior to appointing the firm. Can this be arranged?
Absolutely - it is our preference to talk to you we do not take any clients on without you liaising with the conveyancer due to be doing your conveyancing in Leicestershire.There is no ‘factory style conveyancing’ - each client is an important person, not a file reference. The law firms that we put you in touch with believe that the figure you are calculated and presented to you for your conveyancing in Leicestershire should be the amount on the final invoice that you are charged.
I need to retain a conveyancing solicitor for some conveyancing in Leicestershire. I happened to stumble upon a web site which seems to have the ideal offering If it is possible to get all formalities completed via email that would be preferable. Do I need to be concerned? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
I am tempted by the attractive purchase price for a two maisonettes in Leicestershire which have about fifty years remaining on the lease term. Will this present a problem?
There are no two ways about it. A leasehold apartment in Leicestershire is a wasting asset as a result of the shortening lease. The closer the lease gets to zero years unexpired, the more it adversely affects the salability of the premises. The majority of purchasers and banks, leases with less than 75 years become less and less marketable. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of premises with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Leicestershire conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease. They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that any new terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.
I invested in buying a split level flat in Leicestershire, conveyancing formalities finalised March 2002. 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? Corresponding flats in Leicestershire with over 90 years remaining are worth £186,000. The average or mid-range amount of ground rent is £55 yearly. The lease terminates on 21st October 2077
With 52 years remaining on your lease we estimate the premium for your lease extension to span between £29,500 and £34,000 plus plus your own and the landlord's "reasonable" professional fees.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we are not able to advice on a more accurate figure without more comprehensive due diligence. You should not use this information in tribunal or court proceedings. There may be other concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. Please do not move forward based on this information without first getting professional advice.