The conveyancer who assisted with my last purchase has given a fee calculation of £1400 for fixed fee conveyancing in Ludlow. I’m hoping to sell a Georgian detached home for £275,000. Is this too much? Is it above the norm for conveyancing in Ludlow?
The costs illustration is slightly on the steep side. Where you are willing to expend time contrasting quotes you might get the conveyancing a bit cheaper by perhaps a hundred pounds. On the other hand, you maycome to regret opting for an a cheaper solicitor. Remember to ensure the solicitor can represent your lender. Do use our search tool to select a Ludlow conveyancing company on the banks conveyancing panel which can often include conveyancing solicitors in Ludlow.
Me and my brother own a terraced Victorian property in Ludlow. Conveyancing lawyer acted for me and Skipton Building Society. I did a free Land Registry search last week and I saw a couple of entries: the first freehold, the second leasehold under the exact same address. If a house is not a freehold shouldn't I have been informed?
You should read the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Ludlow and other locations in the country and poses no real issues for owners other than when they sell they have to account for both freehold and leasehold interests when dealing with buyers. You can also question the position with your conveyancing lawyer who conducted the purchase.
I am purchasing my first flat in Ludlow with a mortgage from Nottingham Building Society. The builders refused to move on the price so I negotiated five thousand pounds worth of additionals instead. The sale representative advised me not to tell my solicitor about the deal as it may adversely affect my mortgage with the lender. Should I keep quiet?.
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.
I am looking for a leasehold apartment up to £195,000 and found one close by in Ludlow I like with open areas and railway links in the vicinity, the downside is that it only has 51 years unexpired on the lease. There is not much else in Ludlow in this price bracket, so just wondered if I would be making a grave error acquiring a short lease?
If you need a home loan the remaining unexpired lease term may be an issue. Discount the price by the expected lease extension will cost if not already taken into account. If the current proprietor has owned the premises for at least 2 years you may ask them to start the process of the extension and then assign it to you. An additional ninety years can be extended on to the existing lease term and have £0 ground rent by law. You should speak to your conveyancing lawyer about this.
We're first time buyers - had an offer accepted, but the estate agent advised that the seller will only move forward if we appoint their recommended solicitors as they want an ‘expedited deal’. Our preferred option is to instruct a local conveyancer who is familiar with conveyancing in Ludlow
It is unlikely the sellers are behind this. Should the seller require ‘a quick sale', alienating a genuine purchaser is counter productive. Speak to the owners direct and make sure they comprehend that (a)you are keen to buy (b)you are excited to move forward, with mortgage lined up © you have nothing to sell (d) you wish to move quickly (e)however you are going to use your preferred Ludlow conveyancing lawyers - as opposed tothose that will give the negotiator at the agency a introducer fee or hit his conveyancing figures set by senior management.
I've recently bought a leasehold property in Ludlow. Am I liable to pay service charges for periods before my ownership?
Where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
Ludlow Leasehold Conveyancing - Sample of Queries Prior to Purchasing
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Are any of leasehold owners in dispute over their service charge liability? You should be aware if it is fewer than 80 years it will affect the marketability of the property. Check with your lender that they are willing to to proceed given the lease term. Leases with fewer than 80 years remaining means that you will almost definitely have to extend the lease at some point and you need to have some idea of what this will be. Remember, in most cases you would be be obliged to have been the owner of the property for a couple of years before you are entitled to extend the lease. What restrictions are there in the Ludlow Lease?