Recently been in touch with my conveyancing lawyer in New Forest who completed the legal work two years ago requesting a conveyancing quote based on the same type of house sale & purchase (a leasehold property and a freehold premises) of almost identical values with a loan from The Royal Bank of Scotland. It looks as though am now being quoted twice the amount. Should I look for a cheaper internet firm of conveyancing solicitor?
The estimate does seem a tad on the high side. If you shop around you may be able to get the conveyancing a bit cheaper by say £100 plus VAT. On the other hand, if you were happy with the assistance the firm gave you couldlive to regret choosing an an untested lawyer. Don't forget to enquire the conveyancer can act for The Royal Bank of Scotland. You can use our search tool to get a quote a New Forest conveyancing firm on the The Royal Bank of Scotland conveyancing panel, which can often include conveyancing solicitors in New Forest.
I have todaybeen informed that Arc property Solicitors have closed. They conducted my conveyancing in New Forest for a purchase of a leasehold flat 10 months ago. How can I be sure that the property is not still registered in the name of the former proprietor?
The quickest way to check if the property is in your name, you can carry out a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of New Forest conveyancing specialists.
I am buying a new build house in New Forest with a loan from Aldermore. The sellers refused to move on the price so I negotiated 6k of extras instead. The property agent told me not reveal to my conveyancer about this extras as it will impact 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.
I opted to have a survey carried out on a property in New Forest in advance of instructing solicitors. I have been told that there is a flying freehold overhang to the house. My surveyor advised that some banks may not issue a mortgage on such a home.
It depends who your proposed lender is. Bank of Scotland has different instructions for example to Birmingham Midshires. If you e-mail us we can check with the relevant lender. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in New Forest. Conveyancing will be smoother if you use a solicitor in New Forest especially if they are familiar with such properties in New Forest.
I am looking at a two apartments in New Forest both have in the region of 50 years unexpired on the lease term. should I be concerned?
A lease is a right to use the premises for a prescribed time frame. As the lease shortens the saleability of the lease deteriorates and results in it becoming more costly to acquire a lease extension. For this reason it is advisable to extend the lease term. It is often difficulties arise selling premises with a short lease as mortgage companies may be unwilling to lend money on properties of this type. Lease enfranchisement can be a difficult process. We advise that you seek professional help from a conveyancer and surveyor with experience in this area.
I bought a ground floor flat in New Forest, conveyancing was carried out in 2006. How much will my lease extension cost? Equivalent properties in New Forest with an extended lease are worth £190,000. The average or mid-range amount of ground rent is £45 levied per year. The lease finishes on 21st October 2087
With 62 years remaining on your lease the likely cost is going to span between £17,100 and £19,800 plus legals.
The figure that we have given is a general guide to costs for extending a lease, but we are not able to provide a more accurate figure without more detailed investigations. You should not use this information in a Notice of Claim or as an informal offer. There may be other issues that need to be considered and you obviously should be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information without first getting professional advice.
I'm purchasing a bungalow in New Forest. I can find my conveyancer's company on the CLC list, but I can't find my conveyancer's name as listed on the regulator's website. Is this a big problem?
Not every individual in the practice must be listed by the regulator. Provided there is someone qualified to 'oversee' the transaction, the actual day-to-day activity can be undertaken by unqualified staff.