Just been in touch with my conveyancing lawyer in Shinfield and Arborfield who conducted the legals 18 months ago asking for a conveyancing estimate based on the same type of house move (a leasehold residence and a freehold property) of similar values with a mortgage from Bank of Ireland. I am now being quoted twice the amount. Am I right to be tempted to shop around for an alternative conveyancer?
The charges seem a tad high. Where you are prepared to expend time scrutinising costs you might get the conveyancing a bit cheaper by as much as £100 plus VAT. On the other hand, if you were content with the conveyancing the firm provided you mightlive to regret opting for an an unknown solicitor. If is important to enquire the conveyancer can represent Bank of Ireland. Do make use of our search tool to find a Shinfield and Arborfield conveyancing firm on the Bank of Ireland approved list of lawyers, which can often include conveyancing solicitors in Shinfield and Arborfield.
My wife and I are nearing an exchange on a property in Shinfield and Arborfield and my parents have transferred the exchange deposit to my solicitor. I am now told that as the deposit has been sent from someone other than me my lawyer needs to disclose this to my bank. I am advised that, in also acting for the mortgage company he must inform them that the balance of the purchase price is coming from anyone other than me. I disclosed to the bank regarding my parents' contribution when I applied for the home loan, so is it really appropriate for him to raise this?
Your lawyer is obliged to check with lender to ensure that they are aware that the balance of the purchase price is not from your own funds. Your solicitor can only reveal this to your bank if you permit them to, failing which, your lawyer must cease to continue acting.
We're in Shinfield and Arborfield, First time buyers buying with a mortgage (lender is HSBC , and our solicitor is on the HSBC conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the HSBC conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no conveyancer should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
I require quick conveyancing in Shinfield and Arborfield as I have an ultimatum to complete inside one month. Luckily I do not require a mortgage. Can I escape the need for conveyancing searches to save money and time?
If.Given you are are a cash purchaser you are at liberty not to have searches carried out although no solicitor would recommend that you don't. With lots of history conveyancing in Shinfield and Arborfield the following are examples of issues that can appear and therefore affect future mortgageability: Enforcement Actions, Overdue Fees, Overdue Grants, Unadopted Roads,...
I have been on the look out for a leasehold apartment up to £305k and identified one close by in Shinfield and Arborfield I like with a park and transport links in the vicinity, the downside is that it only has 51 years unexpired on the lease. I can't really find anything else in Shinfield and Arborfield in this price bracket, so just wondered if I would be making a grave error acquiring a lease with such few years left?
Should you need a mortgage that many years will likely be a potential deal breaker. Discount the price by the expected lease extension will cost if it has not already been discounted. If the current proprietor has owned the property for at least 2 years you could request that they start the process of the extension and then assign it to you. You can add 90 years to the existing lease term with a zero ground rent applied. You should speak to your conveyancing solicitor regarding this matter.
I own a leasehold house in Shinfield and Arborfield. Conveyancing and Norwich and Peterborough Building Society mortgage are in place. A letter has just been received from someone saying they have taken over the freehold. It included a demand for arrears of ground rent dating back to 1993. The conveyancing practitioner in Shinfield and Arborfield who acted for me is not around. What should I do?
The first thing you should do is make enquiries of the Land Registry to make sure that this person is in fact the registered owner of the freehold reversion. You do not need to instruct a Shinfield and Arborfield conveyancing solicitor to do this as you can do this on the Land Registry website for less than a fiver. Rest assured that regardless, even if this is the rightful landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I acquired a garden flat in Shinfield and Arborfield, conveyancing formalities finalised half a dozen years ago. Can you work out an approximate cost of a lease extension? Comparable flats in Shinfield and Arborfield with over 90 years remaining are worth £185,000. The average or mid-range amount of ground rent is £65 yearly. The lease comes to an end on 21st October 2085
With just 60 years remaining on your lease we estimate the premium for your lease extension to range between £20,000 and £23,000 as well as costs.
The figure that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of comprehensive investigations. Do not use the figures in a Notice of Claim or as an informal offer. 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. Please do not take any other action based on this information before seeking the advice of a professional.