My best friend’s step-father is a property lawyer. I hope that I will receive mate’s fee for conveyancing, but if not, what level of figure should I be expecting for conveyancing in Uppingham?
You should compare pricing. Do use our search tool on this page. The prices will vary but service levels do differ between solicitors as is the case with most professions.
My conveyancer has identified a a problem with the lease for the property we are buying in Uppingham. The seller’s lawyers have put forward title insurance as a workaround. We are content with insurance and will cover the costs. Our solicitor has advised that he must ensure that the mortgage company is content with this solution. Are we the client or is the mortgage company ?
The short answer to your last question is that, notwithstanding the risk of a conflict of interest, you and the mortgage company are the client. Your conveyancing practitioner must comply with the UK Finance Lenders’ Handbook requirements. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects with the lease so that the bank can be afforded the opportunity to check with their valuer as to the extent that the value of the property is affected. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.
I am helping my aunt sell her property in Uppingham. Does the conveyancing solicitor arrange an EPC or it is for the seller to coordinate?
Following the abolition of Home Packs, energy assessments became a required component of selling a house. An EPC should be commissioned in advance of the property being advertised. It is not a task that law firms ordinarily organise. Where you are instructing a Uppingham conveyancing lawyer they might be willing to arrange energy assessments due to their contacts with reputable local assessors
My fiancee and I are spending time looking at apartments in Uppingham and I am now considering a potential offer. Is it too early to have a solicitor in place? I intend to finance via a home loan with HSBC.
It would be advisable to instigate your search sooner rather than later. After you have chosen your lawyer and once your offer is accepted you can instruct them to work for you and pass their contact information on to the EA. Given that you are seeking a mortgage with HSBC, ask your prospective lawyers if they are on the HSBC conveyancing panel otherwise they can't do the mortgage legal work.
I have a mortgage with Kent Reliance for my property in Uppingham. Conveyancing has been completed 12 months ago. In the event that I decide to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Kent Reliance?
Kent Reliance must be informed of your intention in advance of letting out your property as this is likely to be a breach of Kent Reliance’s mortgage conditions. In many cases banks or building societies will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Kent Reliance directly. It should not be necessary to do this via a Kent Reliance conveyancing panel firm.
I'm buying my first flat in Uppingham with the aid of help to buy. The sellers refused to move on the amount so I negotiated £7000 of extras instead. The estate agent suggested that I not to tell my lawyer about the extras as it would adversely affect my mortgage with TSB. Is this normal?.
All lenders require a Disclosure of Incentives Form from the developer 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.
In what way does the Landlord & Tenant Act 1954 impact my commercial offices in Uppingham and how can you help?
The 1954 Act affords security of tenure to business leaseholders, giving them the a statutory right to apply to court for a new lease and continue in occupation when the lease comes to an end. There are certain specified grounds where a landlord can refuse a lease renewal and the rules are complicated. Fees are different for commercial conveyancing. Uppingham is one of our hundreds of areas of the UK in which our lawyers have offices
I’m about to sell my garden apartment in Uppingham. Conveyancing has not commenced, but I have recently had a half-yearly maintenance charge invoice – should I leave it to the buyer to sort out?
Your conveyancing lawyer is likely to suggest that you should discharge the invoice as usual because all ground rent and maintenance payments should be allotted as part of the financial calculations for completion monies, so you will be reimbursed by the purchaser for the period running from after the completion date to the next payment date. Most managing agents will not acknowledge the buyer unless the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.
I inherited a split level flat in Uppingham, conveyancing formalities finalised half a dozen years ago. Can you give me give me an indication of the likely cost of a lease extension? Equivalent properties in Uppingham with an extended lease are worth £201,000. The ground rent is £45 per annum. The lease finishes on 21st October 2089
With 64 years left to run we estimate the premium for your lease extension to range between £14,300 and £16,400 as well as costs.
The suggested premium range above a general guide to costs for extending a lease, but we are not able to advice on a more accurate figure without more detailed due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There may be other concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information before seeking the advice of a professional.