My partner’s uncle is a conveyancer. I hope that I'll be able to get mate’s rates for conveyancing, However if that does not come through, what level of figure should I be expecting for conveyancing in Stourbridge?
It’s wise to get two or three conveyancing estimates. Do use our search tool on this site. Whilst fees seem to be different but service levels do differ between solicitors as is the case with the vast majority of professional services.
We're in Stourbridge, First time buyers buying with a mortgage (lender is Kent Reliance , and our solicitor is on the Kent Reliance conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Kent Reliance conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no conveyancing practitioner should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
I require expedited conveyancing in Stourbridge as I am under an ultimatum to exchange contracts inside 2 weeks. A home loan is not required. Is it possible to escape the need for conveyancing searches to save money and time?
As you are not getting a mortgage you are at liberty not to do searches although no lawyer would suggest that you don't. Drawing on years of experience of conveyancing in Stourbridge the following are instances of what can appear and adversely affect market value: Enforcement Actions, Outstanding Fees, Outstanding Grants, Road Schemes,...
My wife and I own a 4 bedroom Victorian house in Stourbridge. Conveyancing practitioner represented me and Nationwide Building Society. I did a free Land Registry search last week and I saw a couple of entries: the first freehold, another for leasehold with the exact same address. I thought I was buying a freehold how can I check?
You should review the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Stourbridge and other locations in the country and poses no real issues for owners other than when they remortgage they have to account for both freehold and leasehold interests when dealing with lenders. You can also check the situation with the conveyancing solicitor who carried out the work.
I am buying a new build house in Stourbridge with the aid of help to buy. The builders refused to reduce the price so I negotiated £7000 of additionals instead. The house builders rep suggested that I not to tell my conveyancer about this extras as it would impact my mortgage with National Westminster Bank. Is this normal?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I work for a reputable estate agent office in Stourbridge where we see a number of flat sales put at risk as a result of short leases. I have received inconsistent advice from local Stourbridge conveyancing firms. Could you clarify whether the seller of a flat can initiate the lease extension formalities for the purchaser on completion of the sale?
As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser need not have to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or simultaneously with completion of the sale.
Alternatively, it may be possible to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.
I inherited a split level flat in Stourbridge, conveyancing was carried out in 1997. Can you shed any light on how much the price could be for a 90 year extension to my lease? Equivalent properties in Stourbridge with a long lease are worth £216,000. The average or mid-range amount of ground rent is £50 invoiced annually. The lease ends on 21st October 2094
You have 69 years unexpired we estimate the price of your lease extension to be between £9,500 and £11,000 plus plus your own and the landlord's "reasonable" professional fees.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to supply the actual costs without more 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. Please do not move forward placing reliance on this information without first seeking the advice of a professional.