We were about to instruct a conveyancing solicitor in Woodborough recommended by you but stumbled across some other costs illustrations via the web look less pricey – why is this?
You can find lots of solicitors advertising theoretically looks to be cut price. You should think twice as to how much you respect your own move to you are willing to take 'cheap' risks over the quality of the conveyancing. Many of them list a bargain fee to grab your attention but hide additional fees in the small print..
Why do I have to pay up front for my conveyancing in Woodborough?
If you are buying a property in Woodborough your lawyer will request that you to provide them with funds to cover the the cost of the conveyancing searches. This will be the total of the cost of the Local Authority Search. If any down payment is payable against the purchase price then this will be required shortly ahead of contracts are exchanged. The closing balance that is needed should be sent to your lawyer shortly before completion.
I happen to be the sole recipient of my late mum's estate and I have everything in my name now, including the house in Woodborough. Conveyancing formalities meant that the Land Registry date was in June. I now wish to sell up. I understand that there is a Mortgage Lenders six month 'rule', meaning my proprietorship could be regarded the same way as though I had purchased the property in June. Is the property unsalable for six months?
The CML handbook instructs conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you may be caught by that. many lenders would take a practical view as this obligation principally exists to capture subsales or the flipping of property.
Is it correct that all Woodborough CQS (Conveyancing Quality Scheme) solicitors are on the HSBC conveyancing list of approved practices?
It is true that some lenders now make use of the accreditation scheme as the kick off point for Panel membership such as HSBC and Santander. The Law Society’s CQS accreditation however gives no guarantee to lender panel acceptance. Nevertheless,the CML have indicated that it is likely to become a pre-requisite for firms wishing to join their panels.
I recently had an offer accepted on a house in Woodborough. My financial adviser recommended their conveyancers. I paid an on account payment of £150. A couple of days later, the lawyer called me embarrassingly acknowledging that they were not on the Santander conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Santander panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
I own a renovated Edwardian house in Woodborough. Conveyancing lawyer acted for me and HSBC Bank. I did a free Land Registry search last week and I saw two entries: one for freehold, another for leasehold with the exact same address. I'd like to know for sure, how can I find out??
You need to assess the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Woodborough and other areas of the country and poses no real issues for owners other than when they mortgage they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also question the position with the conveyancing solicitor who conducted the work.
Due to sign contracts shortly on a leasehold property in Woodborough. Conveyancing solicitors inform me that they report fully next week. What should I be looking out for?
Your report on title for your leasehold conveyancing in Woodborough should include some of the following:
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Ground rent - what is due and what the invoice dates are, and also know whether this is subject to change Whether the lease restricts you from letting out the property, or having a home office for business What remedies are open the freeholder should you breach a clause of your lease? Will you be prohibited or prevented from having pets in the property?
I own a 2 bed flat in Woodborough, conveyancing formalities finalised 4 years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Similar flats in Woodborough with a long lease are worth £197,000. The average or mid-range amount of ground rent is £55 yearly. The lease finishes on 21st October 2080
With 55 years remaining on your lease we estimate the price of your lease extension to be between £31,400 and £36,200 plus professional fees.
The figure that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more detailed investigations. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information without first getting professional advice.
I have just started marketing my garden flat in Woodborough.Conveyancing has not commenced however I have just received a yearly maintenance charge invoice – Do I pay up?
It best that you clear the service charge as usual because all rents and service invoices will be apportionedas 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 subsequent invoice date. Most management companies 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. Having a clear account will assist your cause and will leave you no worse off financially