We chose a high street firm for my conveyancing in Sherston recently. Reviewing the terms of engagement it is apparent thatwe are on the hook for charges even if our purchase doesn't happen. Should I ditch them and use a web based conveyancing company promoting no-sale-no-fee conveyancing in Sherston?
It is usually a trade off in that if "No Sale No Fee" is advertised then the fee levels will generally be more expensive to neutralise those cases that do not go ahead. Please beware that these arrangements generally do not protect you from expenditure by way of example Sherston conveyancing search fees.
We see that you have a search directory identifying law firms on the Lloyds conveyancing panel. Do firms pay you a referral fee if I appoint them for our own conveyancing in Sherston?
We are a listing service only for law firms wishing to communicate if they are on the Lloyds conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Sherston.
My grandfather passed away 10 months ago and as sole heir and executor I was left the house in Sherston. The house had a relatively small loan left on it of around £4500. I want to have the title changed into my name whilst I re-mortgage to RBS, pay off the mortgage. Is this possible?
Given you plan to re-mortgage then RBS will insist on your using a conveyancer on the RBS conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your RBS conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the RBS mortgage is registered as a charge at the Land Registry.
My father has suggested that I use his conveyancers in Sherston. Should I choose my own solicitor?
Much as we are happy to recommend a Sherston conveyancing lawyer the best way to select a conveyancing lawyer is to seek guidance from friends or relatives who have used the solicitor you're considering.
Do you have any advice for leasehold conveyancing in Sherston from the perspective of saving time on the sale process?
- A significant proportion of the frustration in leasehold conveyancing in Sherston can be avoided if you instruct lawyers as soon as your agents start marketing the property and request that they start to put together the leasehold documentation needed by the purchasers’ lawyers. Some Sherston leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, it would be prudent to notify your estate agents to make sure that the purchasers obtain financial (bank) and professional references. Any bank reference will need to confirm that the buyers are financially capable of paying the annual 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 actual amount of the service charge so that they can pass this information on to the purchasers or their solicitors. In the event that you altered the property did you need the Landlord’s approval? Have you, for example installed wooden flooring? Most leases in Sherston state that internal structural changes or laying down wooden flooring necessitate a licence issued by the Landlord consenting to such works. Where you dont have the consents to hand do not contact the landlord without contacting your solicitor before hand. If you have had conflict with your freeholder or managing agents it is essential that these are settled before the property is put on the market. The purchasers and their solicitors will be nervous about purchasing a flat where a dispute is unsettled. You will have to accept that you will have to pay any arrears of service charge or settle the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose particulars of the dispute to the purchasers, but it is clearly preferable to reveal the dispute as over as opposed to unsettled. You may think that you are aware of the number of years left on your lease but it would be advisable double-check by asking your lawyers. A purchaser's conveyancer will not be happy to advise their client to to exchange contracts if the lease term is below 75 years. In the circumstances it is essential at an as soon as possible that you identify whether the lease term requires a lease extension. If it does, contact your solicitors before you put your property on the market for sale.
I acquired a 1st floor flat in Sherston, conveyancing was carried out 10 years ago. Can you please calculate a probable premium for a statutory lease extension? Equivalent flats in Sherston with over 90 years remaining are worth £180,000. The average or mid-range amount of ground rent is £65 charged once a year. The lease finishes on 21st October 2084
With just 59 years remaining on your lease we estimate the price of your lease extension to span between £20,900 and £24,200 plus costs.
The figure that we have given is a general guide to costs for renewing a lease, but we are not able to advice on a more accurate figure without more comprehensive investigations. You should not use this information in tribunal or court proceedings. There may be other issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Neither should you move forward based on this information before getting professional advice.
Me and my wife are disposing of a Sherston bungalow we inherited 8 years ago in 2011. I have over 15 years conveyancing know-how and, although retired, intend to do the legal work. The buyer's property lawyer has informed me that their building society will not allow us to do our own conveyancing requiring the funds to be transferred to a solicitor's bank account.
Mortgage requirements to lawyers from all CML members state that If the vendor does not have legal representation the borrower's lawyers should check whether the bank needs to be informed so that a decision can be reached as to whether they are willing to move forward.