My best friend’s mother is a property lawyer. I hope that I will receive preferential rates for conveyancing, but if not, what level of fees would I typically be looking at for conveyancing in Shaftesbury?
Do compare pricing. Make use of our comparison tool on this page. Whilst amounts seem to be different but the service one can expect differ between law firms as is the case with the vast majority of professional services.
What does my ID and proof of funds have anything to do with my conveyancing in Shaftesbury? Why is this being asked of me?
It is indeed that case that these requests have nothing to do with conveyancing in Shaftesbury. However these days you can not proceed with any conveyancing transaction if you have not handing over evidence of your identity. Ordinarily this takes the form of a either your passport or driving licence plus a utility bill. Please note that if you are providing your driving licence as proof of ID it must be both the paper part and photo card part, one is not acceptable without the other.
Evidence of the source of funds is required in accordance with the Money Laundering Regulations. Don’t be offended when you are asked to produce this as your conveyancing solicitor must retain this information on file. Your Shaftesbury conveyancing solicitor will require evidence of proof of funds prior to accepting any funds from you into their client account and they may also ask additional queries concerning the origin of funds.
Are the BSA planning on creating a searchable register to list solicitors on the Melton Mowbray Building Society conveyancing panel for instance in Shaftesbury?
We would not expect to be advised of any intention on the part of the BSA to develop such a search facility.
I've recently found out that there is a flying freehold element on a house I put an offer in a fortnight ago in what should have been a quick, chain free conveyancing. Shaftesbury is where the house is located. Can you offer any guidance?
Flying freeholds in Shaftesbury are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Shaftesbury you must be sure that your lawyer goes through the deeds very carefully. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Shaftesbury 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.
We're new to the buying process - had an offer accepted, but the agent informed us that the seller will only go ahead if we appoint their recommended lawyers as they want an ‘expedited deal’. Our preferred option is to instruct a local conveyancer who is accustomed to conveyancing in Shaftesbury
We suspect that the owner is unaware of this request. Should the owner require ‘a quick sale', taking such a hostile approach to a serious purchaser is likely to cause more damage than good. Avoid the agents and go straight to the owners and explain that (a)you are keen to buy (b)you are excited to move forward, with mortgage lined up © you do not need to sell (d) you wish to move quickly (e)however you will continue to instruct your preferred Shaftesbury conveyancing solicitors - not the ones that will provide their negotiator at the agency a kickback or meet his conveyancing thresholds demanded by senior management.
I work for a reputable estate agency in Shaftesbury where we have experienced a number of leasehold sales jeopardised as a result of leases having less than 80 years remaining. I have been given conflicting advice from local Shaftesbury conveyancing firms. Can you clarify whether the vendor of a flat can start the lease extension process for the purchaser on completion of the sale?
Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer can avoid having to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or at the same time as completion of the sale.
An alternative approach is to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.
I inherited a 1 bedroom flat in Shaftesbury, conveyancing was carried out 4 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? Comparable properties in Shaftesbury with over 90 years remaining are worth £165,000. The average or mid-range amount of ground rent is £50 charged once a year. The lease ends on 21st October 2103
With only 77 years left to run the likely cost is going to be between £7,600 and £8,800 as well as legals.
The suggested premium range above a general guide to costs for renewing a lease, but we are not able to supply a more accurate figure in the absence of detailed due diligence. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information without first getting professional advice.