After what seems like an age a loan offer from Nationwide for the refinancing of my 4 room apartment is due within the next few days. Can you suggest a low cost conveyancing solicitor in Shrewton?
You have arrived at the wrong place to search for cut-price fees for conveyancing solicitors in Shrewton. Our goal is to offer excellent value conveyancing but our intention is not to advertise as being the cheapest. Resist the temptation to appoint companies offering £99 conveyancing in Shrewton. In your best case scenario, in being led by low cost conveyancing, you will earn what you pay for and at worst you will end up spending a lot in additional fees and still not get the service you were hoping for.
My wife and I swapping mortgage lender for our maisonette in Shrewton with UBS. We have a son 18 who lives with us. Our solicitor has asked us to disclose anyone over the age of 17 other than ourselves who lives in the flat. Our lawyer has now e-mailed a document for our son to sign, giving up any rights in the event that the property is repossessed. I have a couple of questions (1) Is this document specific to the UBS conveyancing panel as he did not need to sign this form when we bought 5 years ago (2) Does our son by signing this extinguish his entitlement to inherit the property?
First, rest assured that your UBS conveyancing panel solicitor is doing the right thing as it is established procedure for any occupier who is aged 17 or over to sign the necessary Consent Form, which is purely to state that any rights he has in the property are postponed and secondary to UBS. This is solely used to protect UBS if the property were re-possessed so that in such circumstances, your son would be legally obliged to leave. It does not impact your son’s right to inherit the apartment. Please note that if your son were to inherit and the mortgage in favour of UBS had not been discharged, he would be liable to take over the loan or pay it off, but other than that, there is nothing stopping him from keeping the property in accordance with your will or the rules of intestacy.
Do I need to have a meeting at the offices of the solicitor to execute the legal charge? If so, I will instruct a firm who offer conveyancing in Shrewton so that I can attend their offices if necessary.
Most approved lawyers for mortgage companies conduct their communications via the post, internet or over phone calls. This enables them to carry out the conveyancing transaction regardless of where you live in England or Wales. That being said you should check if you have the option of visiting the offices of your conveyancing lawyer if you prefer.
I opted to have a survey completed on a house in Shrewton in advance of appointing conveyancers. I have been told that there is a flying freehold aspect to the property. Our surveyor advised that some banks tend not give a loan on a flying freehold house.
It varies from the lender to lender. Bank of Scotland has different instructions from Halifax. If you call us we can check with the relevant bank. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Shrewton. Conveyancing may be slightly more expensive based on your lender's requirements.
I've recently bought a leasehold flat in Shrewton. Do I have any liability for service charges for periods before completion of my purchase?
Where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I invested in buying a ground floor flat in Shrewton, conveyancing was carried out in 1999. Can you give me give me an indication of the likely cost of a lease extension? Similar flats in Shrewton with over 90 years remaining are worth £197,000. The ground rent is £55 levied per year. The lease finishes on 21st October 2080
With only 55 years left to run we estimate the price of your lease extension to span between £31,400 and £36,200 plus professional fees.
The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of detailed due diligence. 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 should be as accurate as possible in your negotiations. Please do not take any other action based on this information without first seeking the advice of a professional.
I am contemplating choosing an online conveyancer as opposed to a Shrewton conveyancing practice. Should I ‘stay local’?
Advantages do exist in being able to attend a local Shrewton conveyancing solicitor such as
- signing documents on short notice
- having one on one explanations of matters that you need help with
- the ability to complain if things go pear-shaped
When analysing fees, look out for hidden extras. Most decent Shrewton high street solicitors give an all-inclusive price. Often online companies appear to offer cheap prices, but have hidden 'extras' in the fine print.