My best friend’s dad is a solicitor. I suspect that I will receive preferential pricing for conveyancing, but if not, what kind of costs would I typically be looking at for conveyancing in Retford?
It’s wise to get multiple conveyancing estimates. Make use of our comparison tool on this page. You will notice that quotes seem to contrast greatly but the service one can expect are distinct between property lawyers as is true with the vast majority of professional services.
We are a couple about to exchange contracts for a ground floor flat in Retford. We have hit a stumbling block. Our loan offer with Lloyds TSB Bank expires on 24/3/2025 but the vendors are putting forward a completion date of 26/3/2025. Can one extend the mortgage expiry date?
The best person to deal with your issue is your lawyer who should calculate if they better off negotiating with the mortgage broker, vendor’s conveyancers, estate agents or possibly all three given the circumstances your house move as of today.
I am the registered owner of a freehold premises in Retford yet invoiced for rent, why is this and what is this?
It is rare for properties in Retford and has limited impact for conveyancing in Retford but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges have existed for many centuries, but the Rent Charge Act 1977 barred the creation of fresh rentcharges post 1977.
Old rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence post 2037 will be dispensed with completely.
I am purchasing a new build house in Retford with a mortgage from Alliance & Leicester . The developers would not reduce the amount so I negotiated £7000 of extras instead. The property agent told me not reveal to my conveyancer about this extras as it may affect my mortgage with the lender. Is this normal?.
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.
Do you have any top tips for leasehold conveyancing in Retford from the point of view of speeding up the sale process?
- Much of the frustration in leasehold conveyancing in Retford can be bypassed if you get in touch lawyers as soon as your agents start advertising the property and request that they start to collate the leasehold documentation needed by the purchasers’ conveyancers. If you hold a share in a the freehold, you should ensure that you have the original share document. Arranging a replacement share certificate can be a time consuming process and delays many a Retford conveyancing transaction. If a reissued share certificate is necessary, do contact the company director and secretary or managing agents (if applicable) for this at the earliest opportunity. If you have carried out any alterations to the property would they have required Landlord’s consent? Have you, for example installed wooden flooring? Retford leases often stipulate that internal structural changes or laying down wooden flooring calls for a licence from the Landlord approving such works. If you fail to have the approvals to hand do not contact the landlord without checking with your solicitor in the first instance. You may think that you are aware of the number of years remaining on your lease but you should verify this via your lawyers. A purchaser's lawyer will not be happy to advise their client to to exchange contracts if the lease term is below 80 years. In the circumstances it is important at an as soon as possible that you consider whether the lease term for your property needs extending. If it does, contact your solicitors before you put your home on the market for sale. Some Retford leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, you should place the estate agents on notice to make sure that the purchasers put in hand bank and professional references. Any bank reference will need to confirm that the buyers are able to meet the yearly service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the actual amount of the service charge so that they can pass this information on to the purchasers or their lawyers.
I inherited a 1st floor flat in Retford, conveyancing was carried out half a dozen years ago. Can you please calculate a probable premium for a statutory lease extension? Similar flats in Retford with a long lease are worth £260,000. The average or mid-range amount of ground rent is £45 invoiced every year. The lease expires on 21st October 2100
With 75 years remaining on your lease we estimate the premium for your lease extension to span between £8,600 and £9,800 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 extending a lease, but we cannot give you a more accurate figure in the absence of detailed due diligence. 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 clearly you should be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information before getting professional advice.
Is it necessary during the course of the conveyancing process to visit the offices of the lender conveyancing panel solicitor to execute the mortgage deed? If so, I will choose one who does conveyancing in Retford as it will be easier to attend their offices when needed.
Whereas this was necessary 15 years ago, most lenders no longer require their conveyancing panel solicitor to witness the borrowers signature. You will still be obliged to provide ID Documents and there are still distinct advantages to using a local solicitor, in your case a conveyancing solicitor in Retford.