The solicitor who helped my last purchase has given a fee estimate just over a thousand pound for leasehold conveyancing in Northfleet. I am looking to sell a modern detached home for £300,000. Are these conveyancing fees excessive? Is it in excess of what I should be paying for conveyancing in Northfleet?
The charges are a little high. If you shop around you may be able to reduce the fees marginally by perhaps a hundred pounds. That being said, you couldcome to rue opting for an an untested lawyer. Don't forget to enquire that the solicitor can also act for your bank. Do utilise our search tool to locate a Northfleet conveyancing company on the banks conveyancing panel which can often include conveyancing solicitors in Northfleet.
My wife and I are acquiring a brand new apartment in Northfleet and my conveyancer is telling me that she has to the mortgage company to reveal incentives from the developer. The Estate Agents are hassling me to exchange contracts and my preference is not to prolong matters. is my lawyer playing by the book?
You should not exchange unless you have been advised to do so by your conveyancing practitioner. A precondition to being on a lender panel is to comply with the UK Finance Lenders’ Handbook conditions. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
three months have elapsed since my purchase conveyancing in Northfleet concluded. I have checked the Land Registry site which shows that I paid £175,000 when infact I paid £170,000. 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 asset 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.
I am buying my first flat in Northfleet with a loan from Skipton Building Society. The developers refused to reduce the price so I negotiated 6k of extras instead. The sale representative suggested that I not reveal to my conveyancer about the side-deal as it could jeopardize my mortgage with Skipton Building Society. 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'm refinancing my existing house to a BTL loan with HSBC Bank and I will use the ballance of the raised equity as a down payment on further property. The area we are talking about is Northfleet. Will your solicitors be able to act for the two banks and link together the transactions?
Do use our search tool on this page to check that the solicitors are approved by both banks. Assuming that they are the conveyancer should be able to connect the two conveyancing matters but you should have a chat with you solicitor and specify your desired outcome and requirements.
I want to let out my leasehold flat in Northfleet. Conveyancing solicitor who did the purchase is retired - so can't ask him. Do I need to ask my freeholder for their consent?
Notwithstanding that your last Northfleet conveyancing solicitor is not available you can review your lease to check if it allows you to sublet the premises. The accepted inference is that if the deeds are non-specific, subletting is allowed. There may be a precondition that you need to seek consent from your landlord or some other party prior to subletting. This means that you cannot sublet in the absence of first obtaining permission. The consent should not be unreasonably refused ore delayed. If the lease does not allow you to sublet you should ask your landlord for their consent.
I invested in buying a 1st floor flat in Northfleet, conveyancing having been completed 10 years ago. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Equivalent properties in Northfleet with over 90 years remaining are worth £171,000. The ground rent is £50 invoiced annually. The lease finishes on 21st October 2104
With just 79 years left to run we estimate the price of your lease extension to span between £8,600 and £9,800 as well as professional fees.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to advice on the actual costs without more comprehensive due diligence. Do not use this information in tribunal or court proceedings. There are no doubt additional concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information before getting professional advice.