My wife and I are about to exchange on the purchase of a property in Queensferry but as a result of wreckage from a small fire at the property I have managed to agree recompense from the seller in the sum of six thousand pounds by way of a adjustment in the price. I had intended this to be dealt with as part of a side agreement but HSBC will not agree to this. Why were they notified?
Any solicitor being on a HSBC approved list is required to inform HSBC of any changes to the sale price. If you were to refuse your solicitor to notify the reduction to HSBC then they would have to discontinue acting for you. In addition, HSBC and you would have to appoint a new solicitor for your conveyancing in Queensferry.
Can you explain why leasehold purchase conveyancing in Queensferry costs more?
Queensferry leasehold conveyancing transactions usually involve additional investigations than freeholds including investigating the Lease, liaising with the Landlord such as serving appropriate notices on the Landlord or managing agent, obtaining up-to-date service charge and management information, obtaining Landlord’s consents and reviewing management accounts and formation documents.
I am purchasing my first flat in Queensferry with a mortgage from The Royal Bank of Scotland. The developers would not reduce the price so I negotiated five thousand pounds worth of extras instead. The house builders rep advised me not to tell my lawyer about the side-deal as it could adversely affect my mortgage with the bank. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the builder 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.
My company is planning to take over a lease of a shop on the high street. Can you recommend solicitors offering no-sale-no charges for non-domestic conveyancing in Queensferry for less than £2000?
We can recommend firms who have an in-depth of experience of commercial conveyancing in Queensferry, including the disposal and acquisition of businesses as well as simply property. If you are looking to acquire or sell a shop, pub, restaurant, office, retail unit or a whole business we will find you the right firm. As for the charges this will depend on the structure and terms of the proposed transaction. Please provide us with your contact information or email so as to enable us to provide you with comprehensive commercial conveyancing calculation.
Planning to exchange soon on a garden flat in Queensferry. Conveyancing solicitors assured me that they are sending me a report next week. What should I be looking out for?
The report on title for your leasehold conveyancing in Queensferry should include some of the following:
-
Your conveyancers should enable you to have an understanding of the building insurance requirements The total extent of the demise. This might be the property itself but may incorporate a roof area or cellar if appropriate. Responsibility to repair and maintain the block. It is important for you to know which party is liable for the repair and maintenance of all parts of the block and estate Do you need to have carpet in the flat or are you allowed wood flooring? The unexpired lease term. You should receive guidance as what happens when the lease ends, and aware of the importance of the 80 year mark
I purchased a 1 bedroom flat in Queensferry, conveyancing was carried out in 2008. Can you please calculate a probable premium for a statutory lease extension? Comparable properties in Queensferry with over 90 years remaining are worth £190,000. The average or mid-range amount of ground rent is £65 yearly. The lease terminates on 21st October 2087
With just 61 years remaining on your lease we estimate the premium for your lease extension to span between £19,000 and £22,000 as well as plus your own and the landlord's "reasonable" professional fees.
The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of comprehensive due diligence. You should not use this information in tribunal or court proceedings. There may be other issues that need to be considered and you obviously should be as accurate as possible in your negotiations. Please do not take any other action based on this information without first getting professional advice.
My fiance and I yesterday discovered that one of the directors of the law firm acting on the purchase conveyancing in Queensferry is related to the vendor. Is this acceptable?
As long as no conflict arises this is allowable. Where you are requiring mortgage finance then the lender may have a say as many mortgage companies have specific requirements on this. For example for Leeds Building Society as of 21/2/2026, the requirements read as follows :
• a different person deals with the conveyance (i.e. not the borrower or a member of the borrower's immediate family);
• there is no conflict of interest and none arises during the transaction; and
• the Law Society guidelines are followed.