Me and my partner are purchasing a house in Shepshed. I might seem paranoid but how we can trust a conveyancer? At some point we have to send funds into their account. What is the protection we have from them run away with our deposit?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
I'm spending time looking at flats in Shepshed and I am about to put in an offer. Is it advisable to have a property lawyer on ‘stand by’? I intend to finance via a home loan with HSBC.
You should start obtaining conveyancing estimates from solicitors ASAP. Once you decide who you want to use and once your offer is accepted you can instruct them to work for you and pass their contact information on to the selling agent. Given that you are obtaining a mortgage with HSBC, make sure you remember to check that your lawyer is on the HSBC conveyancing panel.
I am due to exchange contracts on my apartment. I had a double glazing fitted in September 2007, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's mortgage company, RBS are being pedantic. The Shepshed solicitor who is on the RBS conveyancing panel is recommending indemnity insurance as a solution but RBS are insisting on a building regulation certificate. Why do RBS have a conveyancing panel if they don't accept advice from them?
It is probably the case that RBS have referred the matter to their valuer. The reason why RBS 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.
A relative advised me that where I am buying in Shepshed I should carry out a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
A search of this type is occasionally quoted for as part of the standard Shepshed conveyancing searches. It is a large document of about 40 pages, listing and setting out important information about Shepshed around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average Property Price, Crime details, Shepshed Education with plans and statistics, Local Amenities and other useful data about Shepshed.
How does conveyancing in Shepshed differ for new build properties?
Most buyers of new build premises in Shepshed approach us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the residence is finished. This is because house builders in Shepshed typically buy the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Shepshed or who has acted in the same development.
I am using a search engine for the phrase cheap conveyancing in Shepshed it reveals numerous property lawyersin the area. How do I determine which is the right conveyancing solicitor for purchase transaction?
The ideal way of choosing a suitable conveyancer is via trusted referral, so ask colleagues and relatives who have bought a property in Shepshed or the local estate agent or financial adviser. Costs for conveyancing in Shepshed vary, so it's advisable to request a minimum of four costs illustrations from varying types of property lawyers. Make sure that you clarify that the fees are fixed.
Estate agents have just been given the go-ahead to market my ground floor apartment in Shepshed. Conveyancing has not commenced, however I have recently had a half-yearly maintenance charge demand – should I leave it to the buyer to sort out?
The sensible thing to do is pay the maintenance contribution as usual given that all ground rent and service invoices should be apportioned on completion, 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 unless 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 own a 1 bedroom flat in Shepshed, conveyancing formalities finalised in 2008. 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 Shepshed with a long lease are worth £186,000. The ground rent is £55 charged once a year. The lease ceases on 21st October 2078
With 52 years remaining on your lease we estimate the premium for your lease extension to be between £29,500 and £34,000 plus plus your own and the landlord's "reasonable" professional fees.
The figure above a general guide to costs for extending a lease, but we are not able to advice on the actual costs without more comprehensive due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. You should not take any other action based on this information before seeking the advice of a professional.
When it comes to my conveyancing in Shepshed should I be paying VAT on the following: (1) Land reg fee on purchase (2) Pre - completion search fee (3) SDLT E submission on purchase (4) Bank TT fee
(1) Land reg fee on purchase - No (2) Pre - completion search fees -No, (such conveyancing searches are HMLR ones and means £4 and possibly £2 bankruptcy per name on your mortgage) (3) SDLT E submission on your purchase - There is no VAT on Stamp Duty. However if the firm is charging a stamp duty e-submission fee as part of their services - some Shepshed conveyancers do - that will incur VAT(4) Bank transfer fee - Yes it is for the solicitor's time in submitting the funds this way.