We opted for a St Ives based lawyer for my conveyancing in St Ives recently. Reviewing the small print it is apparent thatI am on the hook for costs even if the sale doesn't happen. Would I be best advised to instruct a web based conveyancing company offering no-sale-no-fee conveyancing in St Ives?
Generally there is a compromise along the lines that if "No Sale No Fee" is available then the fee levels will tend to be be more expensive to cover those conveyances that abort. Do bear in mind that such schemes generally do not protect you from outlay for instance St Ives conveyancing search costs.
Completed the sale of my flat in St Ives last February yet the purchaser is whats apping me complaining that their conveyancer needs to hear from mine. What should have happened now that I have sold?
Post completion of your sale your lawyer is obliged to send the transfer deeds and all of the paperwork to the purchaser's lawyers. Where appropriate, your solicitor should also confirm that the legal charge in favour of the lender has been discharged to the buyers lawyers. There is unlikely to be post completion steps unique to conveyancing in St Ives.
My husband and I wish to acquire a purpose built apartment in St Ives with a loan from Accord Mortgages Ltd.We have a St Ives conveyancing practitioner but Accord Mortgages Ltd advised that her practice is not listed on their approved list of firms. We have to appoint a Accord Mortgages Ltd panel firm or keep our high street solicitor and fork out for a Accord Mortgages Ltd panel lawyer to represent them. This seems very unfair; Can we not simply insist that Accord Mortgages Ltd use our lawyer?
Unfortunately,no. The mortgage offered to you contains terms and conditions, one of which will be that solicitors must be on the Accord Mortgages Ltd approved list. in the past, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your solicitors to apply to be on the conveyancing panel for Accord Mortgages Ltd
I have been on the look out for a flat up to £245,000 and identified one round the corner in St Ives I like with amenity areas and transport links nearby, however it only has 51 years unexpired on the lease. There is not much else in St Ives in this price bracket, so just wondered if I would be making a mistake buying a short lease?
If you require a home loan that many years may be an issue. Reduce the price by the anticipated lease extension will cost if not already taken into account. If the existing proprietor has owned the property for at least 2 years you may request that they start the process of the extension and then assign it to you. An additional ninety years can be extended on to the existing lease and have £0 ground rent by law. You should speak to your conveyancing solicitor regarding this.
I've recently bought a leasehold house in St Ives. Do I have any liability for 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 be sure 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 split level flat in St Ives, conveyancing formalities finalised in 2011. How much will my lease extension cost? Equivalent flats in St Ives with a long lease are worth £227,000. The ground rent is £50 per annum. The lease terminates on 21st October 2098
With 72 years remaining on your lease the likely cost is going to span between £9,500 and £11,000 as well as plus your own and the landlord's "reasonable" professional fees.
The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more comprehensive investigations. You should not use this information in tribunal or court proceedings. There are no doubt other concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information without first getting professional advice.
Developers have recommended to me a conveyancer and I've obtained an estimate from them. They are almost two hundred pounds less expensive than my own St Ives lawyer. Should I use them?
Builders frequently have panels of property lawyers who expedite matters and who know the builder's contract and conveyancer. Plenty of developers offer an inducement to select a preferred lawyer for this reason, any increased cost can be avoided and a builder won't recommend a conveyancing factory and run the risk of having the conveyancing delayed when they require an exchange inside a month. The argument for not agreeing to use the recommended conveyancer is that they may be reluctant to fight for your interests for fear of upsetting the housebuilder. If you worry that this may be the case you should remain with your high street St Ives lawyer.