I am obtaining a offer of a home loan from Santander. My intention is to retain the legal services of a Licensed Conveyancer in Maesteg. Does the Santander Solicitor panel allow for Licensed Conveyancers?
The Santander conveyancing panel is, like many other lenders, associated to the CML or BSA, open to Licensed Conveyancers regulated by the Council of Licensed Conveyancers.
Why is leasehold purchase conveyancing in Maesteg is more expensive?
Maesteg leasehold properties involve far more paperwork than a freehold purchase, and therefore takes more time to examine and advise upon.Conveyancing will involve the lease having to be checked which is usually a lengthy document, queries raised to ensure that the covenants and conditions have been observed. If it is a flat there will be a management company in existence and the accounts of this will need to be checked and enquiries raised to ensure it is operating efficiently and that all monies due have been paid by the Seller to the company and if not ensuring that money is paid up to date or the appropriate undertakings obtained.
Do I have to attend the offices of the solicitor to execute the mortgage deed? If so, I will appoint a lawyer who conducts conveyancing in Maesteg so that I can pop in to their offices if required.
Most approved lawyers for lenders carry out all of the communications through the post, e-mail or over the phone. This means that they can undertake the conveyancing transaction regardless of where you live in England or Wales. That being said you should check if you have the option of visiting the offices of your conveyancing lawyer if needed.
I have been advised by a few property agents in Maesteg to find a property lawyer on your site. What’s the financial upside for Estate Agents to offer your site ahead of alternative conveyancing organisations?
We refuse to offer any commission for sending work in our direction. We found it would be just too difficult to pay a commission as home movers will think, ‘How come the agent getting a kickback? Why am I not receiving any benefit too?’ So we decided to step away from that.
Our conveyancer has advised that he intends to complete and exchange simultaneously on the sale of our £450,000 garden flat in Maesteg in just under a week. The managing agents has quoted £348 for Certificate of Compliance, building insurance schedule and 3 years statements of service charge. Is it legal for a freeholder to charge such fees for a leasehold conveyance in Maesteg?
Maesteg conveyancing on leasehold maisonettes often involves the purchaser’s solicitor sending questions for the landlord to address. Although the landlord is under no legal obligation to answer these enquiries the majority will be content to assist. They may invoice a reasonable charge for responding to enquiries or supplying documentation. There is no upper cap for such fees. The average costs for the information that you are referring to is over three hundred pounds, in some cases it is in excess of £800. The management information fee invoiced by the landlord must be sent together with a summary of rights and obligations in respect of administration fees, otherwise the invoice is not strictly payable. In reality you have little option but to pay whatever is requested of you if you want to exchange contracts with the buyer.
I invested in buying a leasehold flat in Maesteg, conveyancing having been completed in 1997. Can you let me have an estimated range of the fair premium for a lease extension? Equivalent properties in Maesteg with an extended lease are worth £265,000. The average or mid-range amount of ground rent is £50 invoiced every year. The lease ceases on 21st October 2102
With just 76 years remaining on your lease the likely cost is going to be between £8,600 and £9,800 plus professional fees.
The suggested premium range above a general guide to costs for extending a lease, but we are not able to provide a more accurate figure without more comprehensive investigations. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information without first getting professional advice.
Is it the case that all Maesteg law firms on every lender conveyancing panel?
The Lexsure search tool on this page may be of use or you can go into your high street lender branch in Maesteg. the probability is that they will be in a position to list some reputable conveyancing solicitors in Maesteg