Just been in touch with my conveyancing solicitor in Somersham who conducted the legals two years ago asking for a conveyancing estimate based on the same type of house sale & purchase (a leasehold residence and a freehold premises) of almost identical values with a home loan from Britannia. It looks as though am now being charged double. Should I hunt for a cheaper online firm of conveyancing solicitor?
The estimate does seem a little on the high side. If you are content to invest time contrasting charges you could reduce the fees marginally by as much as a hundred pounds. On the other hand, providing that you were happy with the assistance the firm provided you mightcome to regret choosing an an untested conveyancer. Don't forget to ensure the solicitor can act for Britannia. You can utilise our search tool to choose a Somersham conveyancing firm on the Britannia member panel, which can often include conveyancing solicitors in Somersham.
In what way does my ID and proof of funds have anything to do with my conveyancing in Somersham? Is this really necessary?
To satisfy the Money Laundering Regulations any Somersham conveyancing firm will require evidence of your identity in all conveyancing transactions. This is normally dealt with by provision of a passport and an original bank statement or utility bill showing your correct address.
Under Money Laundering Regulations, conveyancing solicitors are duty bound to ascertain not only the identity of conveyancing clients but also the source of the money that they receive in respect of any matter. Refusal to disclose this may result in your solicitor terminating their retainer with you, as clearly this will cause a conflict between the set Regulations and a refusal to disclose.
Your conveyancers will have an obligation to inform the relevant authorities should they consider that any amounts received by them may contravene the Money Laundering Regulations.
My colleague suggested that where I am purchasing in Somersham I should carry out a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
This is a search is usually included in the estimate for your Somersham conveyancing searches. It is a large report of about 40 pages, listing and setting out important information about Somersham around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Somersham Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average House Prices, Crime details, Local Education with maps and statistics, Local Amenities and other useful data regarding Somersham.
How easy is it to switch solicitor as I need to instruct a firm on the Alliance & Leicester conveyancing list. I had appointed a high street conveyancing solicitor in Somersham five minutes from me but she is not accepted by Alliance & Leicester
We will our best to assist in finding you a conveyancing solicitor in Somersham on the Alliance & Leicester panel. Please note that the conveyancers that we on the directory do not pay us commission if you instruct them and are registered with the Solicitors Regulation Authority who regulate all conveyancing solicitors in Somersham. Using the find a conveyancing solicitor tool on this site, you can compare and instruct different solicitors and conveyancers both nationally and in Somersham.
I've recently bought a leasehold property in Somersham. Am I liable to pay service charges for periods before completion of my purchase?
In a situation 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. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. It is an essential part 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 purchased a leasehold flat in Somersham, conveyancing formalities finalised 3 years ago. Can you work out an approximate cost of a lease extension? Corresponding flats in Somersham with an extended lease are worth £191,000. The average or mid-range amount of ground rent is £55 levied per year. The lease ceases on 21st October 2079
You have 53 years left to run we estimate the price of your lease extension to be between £27,600 and £31,800 as well as legals.
The figure above 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 this information in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be considered 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 without first seeking the advice of a professional.
I'm selling a house in Somersham. I can find my conveyancer's company on the Law Society's list, but I can't see my conveyancer's name on the list. Should I be concerned?
Not every individual in the practice must be listed by the regulator. As long there is someone qualified to 'oversee' the work, the actual day-to-day activity can be conducted by unqualified staff.