My previous conveyancer has given a fee calculation of £1400 for no sale no fee conveyancing in Pewsey. I’m looking to sell a Georgian property for £150,000. This sounds too much. Is it above the average fee for conveyancing in Pewsey?
The estimate does seem marginally steep. If you shop around you might decrease the fees marginally by as much as £125. That being said, you mightlive to regret opting for an an unknown lawyer. If is important to check the firm can act for your mortgage company. Do use our search tool to find a Pewsey conveyancing practice on the banks member panel which can often include conveyancing solicitors in Pewsey.
My wife and I are acquiring a newly built flat in Pewsey and my solicitor is informing me that she is duty bound to the mortgage company to disclose incentives from the builder. I am nearing the developer’s deadline to sign contracts and my preference is not to delay the conveyancing. is my lawyer playing by the book?
You should not exchange unless you have been advised to do so by your conveyancer. A precondition to being on a mortgage company panel is to comply with the UK Finance Lenders’ Handbook specifications. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
Are there restrictive covenants that are commonly picked up during conveyancing in Pewsey?
Restrictive covenants can be picked up when reviewing land registry title as part of the process of conveyancing in Pewsey. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
The estate agent has sent us the confirmation of our purchase of a new build apartment in Pewsey. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build legal work.
Here are examples of a selection of leasehold new build questions that you should expect your new-build leasehold conveyancing in Pewsey
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Please supply evidence that the form of Lease proposed has been approved by the Land Registry. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? Please confirm the Lease plans are surveyor prepared. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? Please supply a car parking plan.
Yesterday I discovered that there is a flying freehold issue on a house I have offered on a fortnight ago in what was supposed to be a straight forward, chain free conveyancing. Pewsey is the location of the property. Is there any guidance you can give?
Flying freeholds in Pewsey are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Pewsey you must be sure that your lawyer goes through the deeds very carefully. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Pewsey may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
I am looking at a couple of flats in Pewsey which have approximately forty five years left on the leases. Do I need to be concerned?
There are plenty of short leases in Pewsey. The lease is a right to use the premises for a period of time. As the lease gets shorter the value of the lease reduces and it becomes more costly to acquire a lease extension. This is why it is often a good idea to increase the term of the lease. Sometimes it is difficult to sell a property with a short lease as mortgage lenders may be reluctant to lend money on properties of this type. Lease extension can be a protracted process. We recommend you seek professional assistance from a conveyancer and surveyor with experience in this field.
I own a studio flat in Pewsey, conveyancing having been completed 9 years ago. Can you let me have an estimated range of the fair premium for a lease extension? Comparable flats in Pewsey with a long lease are worth £216,000. The average or mid-range amount of ground rent is £50 levied per year. The lease runs out on 21st October 2094
With only 69 years left to run we estimate the premium for your lease extension to span between £9,500 and £11,000 plus professional fees.
The figure that we have given is a general guide to costs for renewing a lease, but we are not able to advice on a more accurate figure without more comprehensive due diligence. You should not use this information in tribunal or court proceedings. There are no doubt other issues that need to be considered and clearly you should be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information without first getting professional advice.