We went with a local solicitor for our conveyancing in Trentham today. Looking through the fine print I seeI am liable for fees even where the conveyance does not complete. Should I go with them or instruct an internet firm promoting no completion no cost conveyancing in Trentham?
Generally there is a compromise along the lines that if "No Completion No Fee" is offered then the conveyancing charges will generally be higher to offset the transactions that do not go ahead. Also remember that such offerings tend not to cover outlay by way of example Trentham conveyancing search charges.
Can you clarify what the consequences are if my lawyer’s firm is expelled from the Santander Conveyancing panel ahead of completing my conveyancing in Trentham?
First, this is a very rare occurrence. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit at a cost.
My relative recommended that where I am buying in Trentham I should ask my conveyancer to 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 occasionally included in the estimate for your Trentham conveyancing searches. It is not a small document of more than thirty pages, listing and setting out significant information about Trentham around the property and the people living there. It incorporates 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 statistics, Trentham Education with plans and statistics, Local Amenities and other useful data about Trentham.
I am looking for a flat up to £245,000 and identified one round the corner in Trentham I like with open areas and railway links nearby, however it's only got 61 years unexpired on the lease. There is not much else in Trentham in this price bracket, so just wondered if I would be making a mistake buying a lease with such few years left?
Should you require a home loan the shortness of the lease will be an issue. Reduce the price by the anticipated lease extension will cost if it has not already been discounted. If the existing proprietor has owned the property for a minimum of 2 years you can request that they start the process of the extension and pass it to you. You can add 90 years to the existing lease with a zero ground rent applied. You should consult your conveyancing solicitor about this.
I have been pointed in your direction by numerous estate agents in Trentham to find a conveyancer on your site. Is there a financial advantage for Estate Agents to promote your lawyers over alternative conveyancing organisations?
We don’t offer any commission for directing people to this site. We thought it would be too underhand a fee as members of the public would think, ‘How come the agent getting a kickback? Why am I not getting any benefit too?’ So we decided to step away from that.
My cousin is buying a shared ownership flat in Trentham. He has received a fee estimate by the conveyancer connected to the estate agents and it came to £1245 . It was 9 years ago I sold and bought a property and it cost was £600. Have costs really gone up that much?
What does the conveyancing estimate include? Is it just for the legal fees, or what you will be paying in total (for instance Trentham searches, land registry fees, etc)