I was recommended to a lawyer who has sent a quote for £1200 for leasehold conveyancing in Looe. I’m hoping to downsize from a modern property for £250,000. Is this expensive? Is it above the norm for conveyancing in Looe?
The estimate does seem a tad steep. If you are prepared to spend time comparing charges you could get the conveyancing a bit cheaper by perhaps a hundred pounds. On the other hand, you maycome to rue choosing an an untested solicitor. If is important to check the conveyancer can act for your mortgage company. Do make use of our comparison tool to choose a Looe conveyancing company on the banks member panel which can often include conveyancing solicitors in Looe.
I am considering applying for a Kent Reliance mortgage for purchase of a new build (under development) in Looe with 70% loan to value. Is it compulsory to choose a solicitor on the conveyancing panel for Kent Reliance ?
In theory, you could use a solicitor that is not on the Kent Reliance conveyancing panel, but Kent Reliance would require one of their panel solicitors to be instructed to act in their interests, and you'd have to pay for this - so most people instruct a panel solicitor. It's also easier, as otherwise you'd have to deal with two solicitors for the same conveyancing matter.
I understand that there are debates on Chancel Insurance on online forums. Am I compelled to have this when acquiring a residence in Looe? or I am told that there is a law dating back centuries that means some house owners living in a parish church boundary will be compelled to pay for maintenance to the chancel within the church. Is this suitable for conveyancing in Looe?
Unless a previous purchase of the property completed post 12 October 2013 you could take it that lawyers handling conveyancing in Looe to remain encouraging a chancel search and or insurance against a claim.
Are there restrictive covenants that are commonly picked up during conveyancing in Looe?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the legal transfer of property in Looe. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
I am buying my first flat in Looe with a mortgage from TSB. The builders would not move on the amount so I negotiated 6k of extras instead. The estate agent suggested that I not disclose to my conveyancer about this deal as it may affect my loan with the bank. Is this normal?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
Jane (my partner) and I may need to sub-let our Looe 1st floor flat temporarily due to a career opportunity. We instructed a Looe conveyancing practice in 2004 but they have since shut and we did not think at the time seek any guidance as to whether the lease allows us to sublet. How do we find out?
Even though your previous Looe conveyancing lawyer is not available you can check your lease to check if it allows you to sublet the premises. The accepted inference is that if the deeds are non-specific, subletting is permitted. Quite often there is a prerequisite that you must obtain consent via your landlord or some other party in advance of subletting. The net result is you not allowed to sublet in the absence of first obtaining permission. The consent should not be unreasonably withheld. If the lease prohibits you from subletting the property you should ask your landlord for their consent.
I am the registered owner of a leasehold flat in Looe, conveyancing formalities finalised April 2005. 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 Looe with over 90 years remaining are worth £191,000. The average or mid-range amount of ground rent is £55 levied per year. The lease terminates on 21st October 2078
With only 53 years unexpired we estimate the price of your lease extension to span between £27,600 and £31,800 as well as legals.
The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you the actual costs in the absence of detailed investigations. Do not use the figures in tribunal or court proceedings. There are no doubt other concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. You should not take any other action based on this information without first seeking the advice of a professional.