Recently been in touch with my conveyancing lawyer in Shepton Mallet who conducted the legals two years ago asking for a conveyancing costs illustration based on an identical type of home move (a leasehold premises and a freehold property) of similar values with a loan from Coventry Building Society. It looks as though am now being charged double. Stick with what I know or should I try and find a cheaper internet property lawyer?
The costs illustration is slightly on the steep side. If you are willing to invest time contrasting costs you could get the conveyancing a bit cheaper by as much as a hundred pounds. That being said, assuming were pleased with the assistance the firm provided you couldlive to rue choosing an a cheaper conveyancer. Remember to enquire the solicitor can also act for Coventry Building Society. Do make use of our search tool to locate a Shepton Mallet conveyancing firm on the Coventry Building Society member panel, which can often include conveyancing solicitors in Shepton Mallet.
I am buying a right to buy a flat in Shepton Mallet. Can I do my own conveyancing?
Leaving aside the complexities and merits of DIY conveyancing in Shepton Mallet you will have to appoint a solicitor on your mortgage company's conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to be made in you doing conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on your lender panel in Shepton Mallet.
A colleague advised me that where I am buying in Shepton Mallet I should carry out a Neighbourhood, Planning and Local Amenity Search. What does it cover?
A search of this type is occasionally included in the estimate for your Shepton Mallet conveyancing searches. It is not a small document of about 40 pages, listing and setting out important information about Shepton Mallet around the property and the people living there. It incorporates 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 House Prices, Crime details, Shepton Mallet Education with maps and statistics, Local Amenities and other useful information about Shepton Mallet.
Are there restrictive covenants that are commonly picked up during conveyancing in Shepton Mallet?
Restrictive covenants can be picked up when reviewing land registry title as part of the legal transfer of property in Shepton Mallet. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
I'm buying my first flat in Shepton Mallet with a mortgage from Clydesdale. The developers would not reduce the amount so I negotiated £7000 of additionals instead. The sale representative told me not disclose to my lawyer about the side-deal as it could adversely affect my loan with Clydesdale. Is this normal?.
All lenders require a Disclosure of Incentives Form from the builder 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 am employed by a reputable estate agent office in Shepton Mallet where we have experienced a few leasehold sales derailed due to short leases. I have received contradictory information from local Shepton Mallet conveyancing solicitors. Please can you confirm whether the vendor of a flat can instigate the lease extension process for the purchaser on completion of the sale?
Provided that the seller has been the owner 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. This means that the proposed purchaser need not have to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or at the same time as completion of the disposal of the property.
Alternatively, it may be possible 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 purchaser.
I bought a leasehold flat in Shepton Mallet, conveyancing formalities finalised 5 years ago. Can you work out an approximate cost of a lease extension? Equivalent properties in Shepton Mallet with over 90 years remaining are worth £171,000. The ground rent is £50 yearly. The lease comes to an end on 21st October 2104
With just 79 years remaining on your lease we estimate the premium for your lease extension to be between £8,600 and £9,800 plus legals.
The figure above a general guide to costs for renewing a lease, but we are not able to advice on the actual costs in the absence of comprehensive investigations. Do not use this information in tribunal or court proceedings. There may be other concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Neither should you take any other action based on this information before seeking the advice of a professional.