I am buying a brand new apartment in Topsham and my solicitor is advising me that she is duty bound to the bank to disclose incentives from the seller. I am under pressure to exchange contracts and I have no desire to prolong the conveyancing. is my lawyer playing by the book?
You should not exchange unless you have been advised to do so by your lawyer. A precondition to being on a lender panel is to comply with the UK Finance Lenders’ Handbook conditions. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
Why do I have to pay up front for my conveyancing in Topsham?
Where you are retaining lawyers for conveyancing in Topsham your solicitor will request that you place them with monies to cover the the cost of the conveyancing searches. Normally this is requested to cover the fees of the Local Authority Search. If any down payment is payable against the total price then this should be needed immediately in advance of contracts are exchanged. The closing balance that is needed should be sent to your lawyer shortly before completion.
My colleague suggested that if I am buying in Topsham I should ask my conveyancer to perform a Neighbourhood, Planning and Local Amenity Search. What does it cover?
A search of this type is usually quoted for as part of the standard Topsham conveyancing searches. It is a large report of more than thirty pages, listing and setting out significant information about Topsham around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Topsham 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 information about Topsham.
What is different about your site and alternative online quote calculators when it comes to conveyancing in Topsham?
At this site obtain a conveyancing quote from a Solicitor or Licensed Conveyancer that understands the nuances of your conveyancing in Topsham. Unlike many estate agents and brokerage sites we do not operate kick-back deals with solicitors. Some agents and online brokers 'recommend' the firm who pay the highest kickback, rather than the best value conveyancing in Topsham
I am employed by a long established estate agent office in Topsham where we have experienced a number of leasehold sales jeopardised as a result of leases having less than 80 years remaining. I have received conflicting advice from local Topsham conveyancing firms. Please can you clarify whether the seller of a flat can commence 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 start the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser need not have to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or at the same time as completion of the sale.
Alternatively, it may be possible to extend the lease informally by agreement with the landlord 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 purchaser.
I purchased a basement flat in Topsham, conveyancing having been completed half a dozen years ago. How much will my lease extension cost? Corresponding properties in Topsham with a long lease are worth £191,000. The average or mid-range amount of ground rent is £55 levied per year. The lease terminates on 21st October 2078
With 53 years unexpired the likely cost is going to be between £27,600 and £31,800 as well as plus your own and the landlord's "reasonable" professional fees.
The suggested premium range above a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more detailed investigations. Do not use this information in tribunal or court proceedings. There may be other issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. You should not move forward placing reliance on this information without first getting professional advice.
I am purchasing a house and require a conveyancing solicitor in Topsham who is on the bank conveyancing panel. Could you point me in the right direction as regards a Topsham conveyancing firm?
Our service is limited to being a directory service for firms who wish to listed as being on the approved conveyancing panel for the bank who do conveyancing in Topsham. We dont recommend any particular conveyancing practice.