Recently contacted my conveyancing solicitor in Soham who acted for me 18 months ago requesting a conveyancing costs illustration based on the same type of home move (a leasehold premises and a freehold premises) of almost identical values with a loan from Nationwide Building Society. It looks as though am now being charged double. Am I right to be tempted to shop around for a cheaper online conveyancer?
The quote is fractionally on the high side. If you you were to look around you could decrease the fees marginally by as much as £125. On the other hand, if you were satisfied with the assistance the firm gave you mightlive to rue choosing an an unknown solicitor. If is important to enquire the solicitor can act for Nationwide Building Society. You can utilise our search tool to select a Soham conveyancing firm on the Nationwide Building Society approved list of lawyers, which can often include conveyancing solicitors in Soham.
We are soon to exchange buying a house in Soham but as a consequence of damage from the recent storms I have was able negotiate compensation from the current proprietors in the sum of three thousand pounds in the form of a reduction in the price. This was going to be addressed as part of the conveyancing process yet Nottingham will not agree to this. Why were they notified?
Your lawyer being on a Nottingham conveyancing panel is duty bound to disclose to Nottingham of any changes to the sale price. If you were to refuse your property lawyer to report the price change to Nottingham then they would have to discontinue acting for you. In addition, Nottingham and you would have to appoint a new conveyancing practitioner for your conveyancing in Soham.
I purchased a freehold property in Soham but nevertheless pay rent, why is this and what is this?
It’s unusual for properties in Soham and has limited impact for conveyancing in Soham but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges date back hundreds of years, but the Rent Charge Act 1977 barred the establishment of fresh rentcharges post 1977.
Previous rentcharges can now be extinguished by making a one off payment under the Act. Any rentcharges that are still in existence in 2037 is to be dispensed with completely.
In my capacity as executor for the estate of my uncle I am disposing of a property in Cardiff but reside in Soham. My conveyancer (approximately 250 miles from merequires that I sign a statutory declaration ahead of the transaction finalising. Can you recommend a conveyancing solicitor in Soham to witness this legal document for me?
Technically speaking you are not likely to be required to have the documents attested by a conveyancing solicitor. Normally any notary public or qualified solicitor will do regardless of whether they are based in Soham
Do you have any advice for leasehold conveyancing in Soham with the purpose of expediting the sale process?
- A significant proportion of the delay in leasehold conveyancing in Soham can be reduced if you instruct lawyers the minute you market your property and ask them to collate the leasehold documentation needed by the purchasers’ representatives. If you have carried out any alterations to the property would they have required Landlord’s approval? Have you, for example laid down wooden flooring? Most leases in Soham state that internal structural changes or installing wooden flooring calls for a licence from the Landlord consenting to such alterations. Where you fail to have the consents in place you should not contact the landlord without checking with your conveyancer in the first instance. You believe that you know the number of years left on your lease but it would be wise to double-check by asking your solicitors. A buyer’s conveyancer will be unlikely to recommend their client to to exchange contracts if the remaining number of years is less than 75 years. In the circumstances it is essential at an as soon as possible that you consider whether the lease term requires a lease extension. If it does, contact your solicitors before you put your property on the market for sale. The majority of freeholders or Management Companies in Soham levy fees for supplying management packs for a leasehold home. You or your lawyers should discover the fee that they propose to charge. The management information can be applied for as soon as you have a buyer, thus reducing delays. The typical amount of time it takes to receive management information is three weeks. It is the most common reason for frustration in leasehold conveyancing in Soham.
I invested in buying a studio flat in Soham, conveyancing was carried out 3 years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Corresponding flats in Soham with a long lease are worth £190,000. The average or mid-range amount of ground rent is £65 invoiced every year. The lease ends on 21st October 2085
With 61 years left to run we estimate the premium for your lease extension to range between £19,000 and £22,000 plus legals.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of comprehensive due diligence. You should not use this information in a Notice of Claim or as an informal offer. There may be other issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information before getting professional advice.
Much to my surprise my conveyancer in Soham has requested from me ID documents saying that this forms part of his requirements as a conveyancer on the lender Solicitor panel. Is this right?
Anti-terror and anti-money-laundering rules require Soham conveyancing solicitors and licensed conveyancers to verify the identity of the person or body they are dealing with before they can accept their conveyancing business. The Terms and Conditions that you need to sign will no doubt confirm this. Your lawyer is right that the lender also require certain documents to be viewed. If a you refuse to provide ID verification documents, your conveyancer would not be able to accept instructions from you. Your lawyer also has obligations to obtain certain documents in accordance with the bank's UK Finance Lenders’ Handbook requirements