Just contacted my conveyancing solicitor in Nafferton who completed the legal work 18 months ago and wanted a conveyancing costs illustration based on an identical type of home move (a leasehold residence and a freehold property) of almost identical values with a mortgage from Yorkshire Building Society. It looks as though am now being charged double. Should I look for an alternative property lawyer?
The costs illustration is fractionally on the steep side. If you you were to look around you might get the conveyancing a bit cheaper by say £125. On the other hand, if you were pleased with the assistance the firm gave you maycome to rue opting for an a cheaper solicitor. Remember to enquire that the firm can act for Yorkshire Building Society. You can employ our search tool to get a quote a Nafferton conveyancing firm on the Yorkshire Building Society conveyancing panel, which can often include conveyancing solicitors in Nafferton.
My wife and I are getting closer to an exchange on a flat in Nafferton and my parents have sent the ten percent deposit to my property lawyer. I am now told that as the deposit has not come from me my lawyer needs to disclose this to my mortgage company. I am advised that, in also acting for the bank he must advise them that the balance of the purchase price is coming from anyone other than me. I informed the bank regarding my parents' contribution when I applied for the home loan, so is it really appropriate for him to raise this?
The solicitor is obliged to check with the bank to ensure that they understand that the balance of the purchase price is not from your own funds. The solicitor can only notify this to your lender if you agree, failing which, your lawyer must cease to continue acting.
Do all mortgage companies provide you with an approved list of Nafferton conveyancing solicitors? How do you know who is on the Kent Reliance conveyancing panel?
Nafferton conveyancing firms themselves provide us confirmation that they are on the Kent Reliance conveyancing panel as opposed to being supplied with a list from Kent Reliance directly.
We are expecting a mortgage offer soon. The bank mentioned the mortgage came with free conveyancing. Is the implication that I have to use their panel solicitor as I would prefer to use a high street conveyancing solicitor in Nafferton?
Do check but the the likelihood is that appoint one of their panel conveyancers if you take up the "fee-free" offer. Contact the lender and determine if they make available a monetary alternative. In the past a few lenders offered a £250 cashback as an alternative in which case you could put that amount towards your preferred conveyancing solicitor near Nafferton.
I am looking for a ground for flat up to £305k and found one close by in Nafferton I like with a park and station in the vicinity, the downside is that it only has 49 remaining years left on the lease. There is not much else in Nafferton suitable, so just wondered if I would be making a mistake acquiring a short lease?
Should you need a home loan the shortness of the lease will be an issue. Discount the price by the expected lease extension will cost if not already taken into account. If the existing proprietor has owned the property for a minimum of twenty four months you could request that they commence the lease extension formalities 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 consult your conveyancing solicitor concerning this matter.
Back In 2004, I bought a leasehold flat in Nafferton. Conveyancing and HSBC Bank mortgage organised. A letter has just been received from someone saying they have taken over the freehold. Attached was a demand for arrears of ground rent dating back to 1995. The conveyancing solicitor in Nafferton who acted for me is not around. Do I pay?
The first thing you should do is make enquiries of HMLR to make sure that the individual purporting to own the freehold is indeed the new freeholder. It is not necessary to incur the fees of a Nafferton conveyancing firm to do this as you can do this on the Land Registry website for a few pound. You should note that in any event, even if this is the legitimate landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I purchased a basement flat in Nafferton, conveyancing formalities finalised August 2007. Can you work out an approximate cost of a lease extension? Comparable flats in Nafferton with an extended lease are worth £222,000. The ground rent is £50 charged once a year. The lease finishes on 21st October 2095
With 70 years left to run we estimate the price of your lease extension to be between £9,500 and £11,000 as well as plus your own and the landlord's "reasonable" professional fees.
The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more comprehensive due diligence. You should not use this information in tribunal or court proceedings. There may be other issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Please do not take any other action based on this information without first getting professional advice.