In the event thatI were to purchase a freehold propertyin Mudeford mortgage fee and dispense with a survey and no conveyancing searches how much would I expect to have to pay for conveyancing in Mudeford?
Any savings you would gain would be isolated to the Mudeford conveyancing searches. The property lawyer still be obliged to do everything else - money laundering, liaising with your vendors property lawyer, stamp duty return, register the ownership etc. You might save a bit for them not having to register a mortgage but it won't be meaningful.
Have just purchased a repossessed house at auction in Mudeford. Conveyancing is required. What happens now?
Now that you have legally committed yourself to purchase you will need to hire the services of a conveyancing practitioner quickly as you now have a fast approaching a drop dead date to complete the transaction. An auction property should have a corresponding auction pack. This will include evidence of title and search results. Where you are dealing with leasehold premises the conveyancing pack may provide a copy of the lease, management information and a sellers leasehold information form and other conveyancing documentation specific to leasehold premises. You need to pass this on to your appointed conveyancing solicitor as soon as possible. Do make sure that your finances are in place to complete on the on the contractual date .
We previously instructed solicitors based in Mudeford on the Yorkshire BS solicitor approved list. They are now charging me an additional fee for the legal aspects of the Yorkshire BS mortgage. Is this a supplemental conveyancing fee set by Yorkshire BS?
Provided it is contained in their Terms and Conditions or estimate then yes your lawyer is entitled to charge a fee for this. This charge is not dictated by Yorkshire BS but by your Mudeford property lawyer. Some firms on the Yorkshire BS panel will levy ’dealing with mortgage’ fee and others do not.
My husband and I have arranged a further advance on our home loan from UBS as we wish to conduct alterations to our home in Mudeford. Are we obliged to appoint a high street Mudeford solicitor on the UBS conveyancing panel to handle the legals?
UBS would not normally instruct a member of their conveyancing panel to deal with the formalities. If they do require any legal work then you would need to ensure that such a lawyer was on the UBS conveyancing panel.
Will my solicitor be making enquiries concerning flooding as part of the conveyancing in Mudeford.
The risk of flooding is if increasing concern for lawyers dealing with homes in Mudeford. Some people will acquire a property in Mudeford, fully expectant that at some time, it may suffer from flooding. However, aside from the physical destruction, where a house is at risk of flooding, it may be difficult to get a mortgage, adequate building insurance, or sell the premises. Steps can be carried out during the course of a house purchase to forewarn the buyer.
Conveyancers are not best placed to give advice on flood risk, but there are a number of checks that can be undertaken by the purchaser or on a buyer’s behalf which should give them a better appreciation of the risks in Mudeford. The standard property information forms given to a buyer’s conveyancer (where the Conveyancing Protocol is adopted) includes a standard question of the seller to discover whether the premises has ever been flooded. In the event that flooding has previously occurred and is not revealed by the seller, then a purchaser could commence a compensation claim as a result of such an incorrect answer. A buyer’s solicitors will also order an environmental search. This should indicate whether there is a recorded flood risk. If so, additional inquiries should be carried out.
It has been five months since my purchase conveyancing in Mudeford completed. I have checked the Land Registry website which shows that I paid £150,000 when infact I paid £180,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the premises from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
My father-in-law has suggested that I use his conveyancing solicitors in Mudeford. Should I use them?
There are no two ways about it the best way to choose a conveyancing solicitor is to get referrals from friends or family who have actually used the firm you're contemplating using.
My wife and I may need to sub-let our Mudeford 1st floor flat temporarily due to a career opportunity. We instructed a Mudeford conveyancing firm in 2003 but they have closed and we did not have the foresight to seek any guidance as to whether the lease prohibits the subletting of the flat. How do we find out?
Some leases for properties in Mudeford do contain a provision to say that subletting is only allowed with permission. The landlord cannot unreasonably withhold but, in such cases, they would need to review references. Experience dictates that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting consent.
I invested in buying a studio flat in Mudeford, conveyancing was carried out half a dozen years ago. Can you let me have an estimated range of the fair premium for a lease extension? Equivalent properties in Mudeford with a long lease are worth £195,000. The average or mid-range amount of ground rent is £45 per annum. The lease finishes on 21st October 2088
With just 63 years unexpired we estimate the price of your lease extension to span between £16,200 and £18,600 plus costs.
The figure that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more comprehensive 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. Please do not move forward based on this information before getting professional advice.