Having been told to check out your company we were about to use a conveyancing solicitor in Shenfield endorsed using your comparison tool but stumbled across alternative estimates on the internet seem cheaper – how come?
There are many firms of solicitors promoting so-called cut-price conveyancing, yet more often than not additionalfees result in the closing bill markedly uplifted. According to the Legal Ombudsman costs outlined in terms and conditions should be equitable and be applied The conveyancers that we list for conveyancing in Shenfield specify all legal fees for the property you plan topurchase.
My Shenfield lawyer has discovered a discrepancy when comparing the surveyor’s assumptions in the home valuation survey and what is revealed within the conveyancing documents. My solicitor has advised that he is obliged to ensure that the lender is OK with this discrepancy and is still content to lend. Is my solicitor’s course or action right?
Your solicitor must comply with the UK Finance Lenders’ Handbook conditions which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.
I purchased a freehold property in Shenfield but still invoiced for rent, why is this and what is this?
It’s unusual for properties in Shenfield and has limited impact for conveyancing in Shenfield 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 date back many centuries, but the Rent Charge Act 1977 barred the establishment of fresh rentcharges from 1977 onwards.
Previous rentcharges can now be redeemed by making a one off payment under the Act. Any rentcharges that are still in existence in 2037 is to be dispensed with completely.
When it comes to mortgage companies such as Leeds Building Society, do Shenfield solicitors incur a yearly amount to be on the list of approved solicitors?
We are not aware of any lender fees to be on their panel, although some do levy an administration charge to deal with the processing of the conveyancing panel application.
Is there a list of Lloyds panel solicitors in Shenfield on the UK Finance Lenders’ Handbook Website?
Unfortunately not yet. There is no such tool on the CML or Building Society Association sites. A small selection of banks make their panel listings viewable over the internet. Where you are in need of a Shenfield lawyer on the Lloyds please make the most of our tool.
My wife and I have organised a further advance on our home loan from RBS as we want to conduct alterations to our house in Shenfield. Are we obliged to select a high street Shenfield solicitor on the RBS conveyancing panel to handle the legals?
RBS would not normally appoint firms on their approved list of lawyers to deal with such a matter. If they do require any legal work then you would need to ensure that such a lawyer was on the RBS conveyancing panel.
We are 3 weeks into a residential purchase having been referred to conveyancers by the high street agent to execute conveyancing in Shenfield. I am not happy. Can you you assist me in finding new conveyancers?
They would need to be really bad in order to consider changing them. Has your mortgage offer been issued? In the event that it has you need to inform them of the new contact details and ensure the offer are re-issued. Your new solicitor ideally needs to be on the mortgage company approved list to avoid added fees and complications. So that should be your starting point. The find a solicitor tool can assist you in finding a bank approved lawyer for your home move in Shenfield
Do you have any advice for leasehold conveyancing in Shenfield from the perspective of expediting the sale process?
- A significant proportion of the delay in leasehold conveyancing in Shenfield can be bypassed where you get in touch lawyers the minute your agents start advertising the property and request that they start to put together the leasehold information which will be required by the purchasers’ representatives. If you hold a share in a the freehold, you should make sure that you are holding the original share certificate. Obtaining a replacement share certificate can be a time consuming formality and slows down many a Shenfield conveyancing deal. Where a new share is needed, you should approach the company officers or managing agents (where applicable) for this at the earliest opportunity. Some Shenfield leases require Licence to Assign from the landlord. If this is the case, you should notify your estate agents 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 service charge figures so that they can pass this information on to the buyers or their solicitors. You believe that you know the number of years remaining on your lease but it would be wise to double-check via your lawyers. A buyer’s lawyer will be unlikely to recommend their client to proceed with the purchase of a leasehold property the remaining number of years is under 75 years. It is therefore essential at an as soon as possible that you identify whether the lease for your property needs extending. If it does, contact your solicitors before you put your property on the market for sale.
Leasehold Conveyancing in Shenfield - A selection of Queries before Purchasing
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The prefered form of lease arrangement is if the freehold reversion is in the ownership of the leaseholders. In this scenario the lessees benefit from being in charge if their destiny and although a managing agent is usually employed if the building is larger than a house conversion, the managing agent acts for the leaseholders themselves. Is there a share of the freehold? Most Shenfield leasehold properties will be liable to pay a service charge for maintenance of the block invoiced by the freeholder. Should you buy the apartment you will have to meet this contribution, usually quarterly throughout the year. This may vary from a few hundred pounds to thousands of pounds for large purpose-built blocks. There will also be a ground rent for you to pay yearly, this is usually not a large figure, say approximately £50-£100 but you should to enquire it because occasionally it can be many hundreds of pounds.