In the event thatI was to buy a straightforward housein Shiremoor for cash and have no survey and no local authority searches how much should I expect to have to pay for conveyancing in Shiremoor?
The only reduction in fees you would achieve is the disbursement for searches. The solicitor is obliged to do the vast majority of work - money laundering, correspond with your vendors conveyancer, SDLT return, register the title etc. You might save a bit for them not needing to register a mortgage however it will not be significant.
Can you explain why leasehold purchase conveyancing in Shiremoor costs more?
The conveyancing costs for a leasehold premises in Shiremoor is frequently more expensive as compared to a freehold transaction. This is because there is an amount of extra work required in communicating with the freeholder and managing agents to collate the information about whether the rent and service fee have been paid and whether there are any large sums expected to be spent in the near future on repairs or maintenance of the building.
How does conveyancing in Shiremoor differ for newly converted properties?
Most buyers of new build premises in Shiremoor contact us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the property is built. This is because house builders in Shiremoor usually acquire 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 used to new build conveyancing in Shiremoor or who has acted in the same development.
Due to the guidance of my in-laws I had a survey completed on a property in Shiremoor before instructing lawyers. I have been informed that there is a flying freehold overhang to the property. My surveyor has said that some lenders tend not grant a loan on this type of home.
It depends who your proposed lender is. HSBC has different instructions for example to Birmingham Midshires. If you call us we can look into this further via the relevant lender. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Shiremoor. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Shiremoor to see if the conveyancing will be more expensive.
My uncle has suggested that I instruct his conveyancers in Shiremoor. Do I take his guidance?
Much as we are happy to recommend a Shiremoor conveyancing lawyer the best way to choose a conveyancing lawyer is to have guidance from friends or family who have used the firm that you are are thinking of instructing.
Our conveyancer has advised that he intends to complete and exchange simultaneously on the sale of our £450,000 flat in Shiremoor in just under a week. The landlords agents has quoted £360 for Landlord’s certificate, building insurance schedule and 3 years statements of service charge. Is the landlord entitled to charge an administration fee for a leasehold conveyance in Shiremoor?
Shiremoor conveyancing on leasehold apartments ordinarily necessitates administration charges raised by landlords agents :
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Completing pre-exchange enquiries
Where consent is required before sale in Shiremoor
Copies of the building insurance and schedule
Deeds of covenant upon sale
Registering of the assignment of the change of lessee after a sale
I am the registered owner of a 1st floor flat in Shiremoor, conveyancing formalities finalised half a dozen years ago. Can you give me give me an indication of the likely cost of a lease extension? Comparable properties in Shiremoor with over 90 years remaining are worth £202,000. The average or mid-range amount of ground rent is £60 yearly. The lease ceases on 21st October 2082
With only 56 years left to run we estimate the premium for your lease extension to span between £29,500 and £34,000 plus costs.
The suggested premium range 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 tribunal or court proceedings. There are no doubt additional issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information before getting professional advice.