In the event thatI were to acquire a straightforward housein Seaforth for cash and dispense with a survey and no conveyancing searches how much should I expect to have to pay for conveyancing in Seaforth?
The only saving you would make on is the disbursement for searches. The conveyancer still got to do everything else - money laundering, communicating with your vendors solicitor, stamp duty return, register the ownership etc. A marginal saving might be made by not having to register a charge however it will not be meaningful.
We note that you have a post code search directory identifying firms on the Bank of Ireland conveyancing panel. Do firms pay you a referral fee if I instruct them for our own conveyancing in Seaforth?
We are a listing service only for law firms wishing to communicate if they are on the Bank of Ireland conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Seaforth.
I just acquired a property at auction in Seaforth. Conveyancing is necessary. What are my next steps?
Given that you are now to in every practical sense signed on the dotted line you now have to hire the services of a conveyancing practitioner as a matter of urgency as you are facing a fast approaching a drop dead date to complete the conveyancing. Every auction property should have an associated legal pack. This will likely include the copy title deeds, local authority and drainage searches. If you have purchased leasehold property the auction pack may provide a copy of the lease, management information and a sellers leasehold information form and other conveyancing paperwork specific to leasehold premises. You should hand this to the solicitor instructed by you as soon as possible. You also need to ensure that that you have the requisite funding in place to complete the transaction on the set completion date.
I can not work out if my bank obliges me to make sure the lease term for the flat is extended prior to the completion date. I have called my Seaforth building society branch on a couple of occasions and was told they are content with the situation and they will lend. My Seaforth conveyancing solicitor - who is on the mortgage company conveyancing panel- telephoned to say that they would not lend based on their published requirements. Who do I believe?
As long as the conveyancer is on the bank approved list, she or he must adhere to the Council of Mortgage Lenders’ Handbook requirements for the bank. Unless your lawyer obtains specific confirmation in writing that the mortgage company will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the lender to contact your lawyer in writing confirming that they will accept the number of years remaining.
I am due to exchange contracts on my flat. I had a double glazing fitted in April 2010, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's lender, Leeds Building Society are being pedantic. The Seaforth solicitor who is on the Leeds Building Society conveyancing panel is recommending indemnity insurance as a solution but Leeds Building Society are requiring a building regulation certificate. Why do Leeds Building Society have a conveyancing panel if they don't accept advice from them?
It is probably the case that Leeds Building Society have referred the matter to their valuer. The reason why Leeds Building Society may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
I'm buying my first flat in Seaforth with a loan from Bank of Scotland. The developers would not move on the price so I negotiated £7000 of extras instead. The house builders rep told me not to tell my conveyancer about the deal as it could impact my loan with the bank. 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 about to sell my 2 bed apartment in Seaforth. Conveyancing lawyers have not yet been instructed, but I have just received a half-yearly maintenance charge demand – what should I do?
Your conveyancing lawyer is likely to suggest that you should clear the service charge as normal as all rents and maintenance payments should be apportioned as part of the financial calculations for completion monies, so you will be reimbursed by the purchaser for the period running from after the completion date to the next payment date. Most management companies will not acknowledge the buyer until the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.
I invested in buying a garden flat in Seaforth, conveyancing having been completed half a dozen 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 flats in Seaforth with an extended lease are worth £260,000. The average or mid-range amount of ground rent is £50 charged once a year. The lease comes to an end on 21st October 2101
With 75 years unexpired the likely cost is going to range between £8,600 and £9,800 plus legals.
The figure that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of comprehensive due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be considered and you obviously should be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information before seeking the advice of a professional.
I have recently had an offer accepted on an apartment in Seaforth and the estate agent that we are dealing with recommended his property lawyer. They quoted £800 plus VAT and 3rd party costs. Does this sound steep?
You should not rely on one estimate. One should obtain like-for-like quotes for your conveyancing in Seaforth. Then select one that you trust and just as important, is on the approved list of the bank that you are sourcing your mortgage from.