Just been in touch with my conveyancing lawyer in Rowlands Gill who completed the legal work 18 months ago requesting a conveyancing estimate based on an identical type of house move (a leasehold premises and a freehold premises) of similar values with a mortgage from Leeds Building Society. I am now being charged double. Should I hunt for an alternative property lawyer?
The estimate does seem a little steep. Where you are happy to spend time contrasting costs you may be able to get the conveyancing a bit cheaper by as much as £100 plus VAT. On the other hand, assuming were pleased with the service the firm gave you mightlive to regret opting for an an unknown solicitor. Don't forget to check that the solicitor can act for Leeds Building Society. You can employ our search tool to find a Rowlands Gill conveyancing firm on the Leeds Building Society approved list of lawyers, which can often include conveyancing solicitors in Rowlands Gill.
My fiance and I intend to remortgage our flat in Rowlands Gill with Leeds Building Society. We have a son 19 who lives with us. Our solicitor has asked us to disclose any adults other than ourselves who lives in the flat. Our lawyer has now e-mailed a document for our son to sign, waiving any legal rights in the event that the flat is repossessed. I have a couple of concerns (1) Is this document specific to the Leeds Building Society conveyancing panel as he never had to sign this form when we remortgaged 4 years ago (2) In signing this form is our son in any way compromising his right to inherit the property?
First, rest assured that your Leeds Building Society conveyancing panel solicitor is doing the right thing as it is established procedure for any occupier who is aged 17 or over to sign the necessary Consent Form, which is purely to state that any rights he has in the property are postponed and secondary to Leeds Building Society. This is solely used to protect Leeds Building Society if the property were re-possessed so that in such circumstances, your son would be legally obliged to leave. It does not impact your son’s right to inherit the apartment. Please note that if your son were to inherit and the mortgage in favour of Leeds Building Society had not been discharged, he would be liable to take over the loan or pay it off, but other than that, there is nothing stopping him from keeping the property in accordance with your will or the rules of intestacy.
Will my conveyancer be raising enquiries regarding flooding during the conveyancing in Rowlands Gill.
Flooding is a growing risk for lawyers dealing with homes in Rowlands Gill. There are those who buy a house in Rowlands Gill, fully expectant that at some time, it may be flooded. However, aside from the physical damage, where a property is at risk of flooding, it may be difficult to obtain a mortgage, adequate building insurance, or sell the premises. Steps can be carried out as part of the conveyancing process to forewarn the buyer.
Solicitors are not qualified to give advice on flood risk, however there are a number of searches that may be carried out by the buyer or on a buyer’s behalf which should figure out the risks in Rowlands Gill. The conventional set of information given to a buyer’s conveyancer (where the Conveyancing Protocol is adopted) incorporates a standard inquiry of the seller to find out whether the property has historically flooded. If the property has been flooded in past which is not revealed by the seller, then a buyer could commence a claim for damages resulting from an misleading response. The buyer’s conveyancers will also carry out an enviro report. This should higlight whether there is any known flood risk. If so, more detailed inquiries will need to be carried out.
Me and my brother have a semi-detached Georgian property in Rowlands Gill. Conveyancing practitioner represented me and Nationwide Building Society. I happened to do a free search for it on the Land Registry database and I saw two entries: one for freehold, the second leasehold with the exact same address. Is it worth asking Nationwide Building Society to clarify?
You need to assess the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Rowlands Gill and other areas of the country and poses no real issues for owners other than when they buy they have to account for both freehold and leasehold interests when dealing with lenders. You can also enquire as to the situation with your conveyancing solicitor who conducted the purchase.
I am intending to let out my leasehold flat in Rowlands Gill. Conveyancing solicitor who did the purchase is retired - so can't ask him. Do I need to ask my freeholder for permission?
Even though your last Rowlands Gill conveyancing solicitor is no longer available you can review your lease to see if you are permitted to let out the premises. The rule is that if the lease is non-specific, subletting is permitted. Quite often there is a prerequisite that you are obliged to seek consent from your landlord or some other party in advance of subletting. The net result is you not allowed to sublet without prior consent. The consent must not not be unreasonably withheld. If your lease prohibits you from letting out the property you will need to ask your landlord for their consent.
I acquired a garden flat in Rowlands Gill, conveyancing having been completed June 2008. Can you let me have an estimated range of the fair premium for a lease extension? Similar flats in Rowlands Gill with over 90 years remaining are worth £185,000. The ground rent is £65 charged once a year. The lease ends on 21st October 2086
With just 60 years left to run we estimate the premium for your lease extension to be between £20,000 and £23,000 as well as professional fees.
The figure above a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more comprehensive due diligence. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be considered and clearly you 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.
Why do Rowlands Gill conveyancing fees differ for leasehold and freehold properties?
There is always increased work required in leasehold conveyancing. Rowlands Gill has many leasehold properties. There is more time involved in the purchase: for example, the lease and leasehold information (including up to date service charge, ground rent and buildings insurance details) obtained from the freeholder or managing agents. There are strict criteria that the lease must meet in order to be acceptable to a mortgage company. If it does not meet these requirements, the lease must be amended, which can involve additional expense for the seller.