At long last a loan agreement from Santander for the refinancing of my 3 bedroom maisonette is to be issued by the end of next week. Are you able to suggest a low cost conveyancing law firm in Theale?
You have come to the wrong site to search for the cheapest conveyancing in Theale. Our aim is to provide excellent value conveyancing but we do not advertise as being the cheapest. Avoid the trap of appointing organisations offering the bait of £100 conveyancing in Theale. The optimum outcome, in choosing a lawyer for cheap conveyancing, you will receive what you pay for and at worst you will end up spending a lot in extras and still not end up with the service you were looking for.
I purchased a freehold premises in Theale yet charged rent, why is this and what is this?
It is rare for properties in Theale and has limited impact for conveyancing in Theale 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 new rentcharges from 1977 onwards.
Old rentcharges can now be redeemed by making a one off payment under the Act. Any rentcharges that are still in existence after 2037 is to be extinguished.
Is it the case that all Theale solicitor firms on the Aldermore conveyancing panel are overseen by the SRA?
As a firm of solicitors, in order to be on the Aldermore conveyancing panel they would need to be regulated by the SRA. Some lenders do list licenced conveyancers on their panel and in such a situation the organisation would be regulated by the Council of Licensed Conveyancers.
We had appointed solicitors based in Theale on the Lloyds solicitor approved list. They have just billed me a supplemental amount for the legal aspects of the Lloyds mortgage. Is this a supplemental conveyancing fee set by Lloyds?
Unfortunately, so long as it is in their Terms of Engagement or estimate then yes your property lawyer may charge a fee for this. This charge is not set by Lloyds but by your Theale lawyer. Some firms on the Lloyds panel will quote ’dealing with mortgage’ fee but plenty of practices include it on their overall fee.
My offer on a semi in Theale has been agreed to, but there is a chain. The owners have offered on somewhere, however it’s not yet tied up, and have viewings of other flats booked. I have instructed a bricks and mortar conveyancing solicitor in Theale. What should be my next step? When should I get the mortgage application with UBS going?
It is usual to have apprehensions where there is a chain as you are unlikely to want to incur costs too early (home loan application is approx £1k, then valuation, Theale conveyancing search charges, etc). First, you must ensure that your conveyancing practitioner is on the UBS approved list. As to the next phase this very much depends on the circumstances of your case, motivation for this property and on the state of the market. During a rising market many purchasers will apply for a home loan with UBS and arrange for the valuation and only if it comes back ok would they ask their conveyancing practitioner to proceed with searches.
My relative recommended that where I am buying in Theale I should carry out a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
A search of this type is sometimes included in the estimate for your Theale conveyancing searches. It is not a small report of about 40 pages, listing and setting out significant information about Theale around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average Property Price, Crime details, Local Education with plans and statistics, Local Amenities and other useful information about Theale.
Expecting to complete next month on a leasehold property in Theale. Conveyancing lawyers assured me that they will have a report out to me within the next couple of days. Are there areas in the report that I should be focusing on?
Your report on title for your leasehold conveyancing in Theale should include some of the following:
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Setting out your rights in relation to common areas in the block.For instance, does the lease grant a right of way over an accessway or staircase? Ground rent - what is due and what the invoice dates are, and be on notice if this will change in the future if lease has a provision for a reserve fund? Additions to the flat What the implications are if you breach a clause of your lease?
I own a ground floor flat in Theale, conveyancing formalities finalised in 1998. How much will my lease extension cost? Comparable flats in Theale with over 90 years remaining are worth £206,000. The average or mid-range amount of ground rent is £45 per annum. The lease ends on 21st October 2092
With 66 years unexpired we estimate the premium for your lease extension to span between £11,400 and £13,200 plus 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 the figures in tribunal or court proceedings. There are no doubt other issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Please do not move forward based on this information without first seeking the advice of a professional.
I dont have enough spare money to pay a 10% deposit on my house purchase in Theale , but I am keen go ahead. What can I do?
One option is to try and agree a lesser deposit. Most vendors will agree to a lower deposit or even no deposit for a first time buyer or 100% mortgage. Be aware though that if you fail to complete you will still need to hand over a minimum of 10% of the purchase price regardless of how much deposit was agreed.
You can also agree a simultaneous exchange and completion as no deposit is required for this however neither party will be tied in until completion actually takes place and it can be risky if sellers change their mind at the last second