We were about to choose a conveyancing solicitor in Dunchurch endorsed by you but have come across alternative fee calculations via the web seem less expensive – how come?
One can find many firms of firms advertising so-called cheap conveyancing, yet more often than not extrafees result in the final bill markedly uplifted. Conveyancers are obliged to make sure that fees contained in terms of business should be fair and reasonable raised The law firms that we list for conveyancing in Dunchurch specify all legal fees for a standard conveyancing transaction.
Is there a reason why leasehold purchase conveyancing in Dunchurch costs more?
The conveyancing charges on a leasehold property in Dunchurch is often more expensive when contrasted to a freehold acquisition or disposal. This is due to the additional work necessary in dealing with the freeholder and managing agents to obtain information about whether the rent and maintenance charges have been paid and whether there are any large sums expected to be spent in the foreseeable future on repairs or maintenance of the block.
We are buying a house and the lawyer has mentioned Chancel Repair to which the house could be liable because it falls into the area of such a church. She has mentioned insurance. Is this strictly warranted for conveyancing in Dunchurch
Unless a prior purchase of the premises completed after 12 October 2013 you can expect solicitors conducting conveyancing in Dunchurch to continue to propose a a chancel search and or chancel repair liability policy.
3 months have elapsed since my purchase conveyancing in Dunchurch concluded. I have checked the Land Registry website which shows that I paid £200,000 when infact I paid £160,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the property from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I am purchasing my first flat in Dunchurch with a loan from Yorkshire Building Society. The developers would not reduce the amount so I negotiated £7000 of extras instead. The property agent advised me not disclose to my lawyer about this side-deal as it may impact my loan with the bank. Should I keep quiet?.
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.
I work for a reputable estate agency in Dunchurch where we have experienced a few leasehold sales put at risk due to short leases. I have received contradictory information from local Dunchurch conveyancing solicitors. Please can you confirm whether the seller of a flat can instigate the lease extension formalities for the buyer?
As long as the seller has owned the lease 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 buyer 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 simultaneously with completion of the disposal of the property.
An alternative approach is to agree the lease extension with the freeholder 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 buyer.
I purchased a split level flat in Dunchurch, conveyancing having been completed October 2009. Can you give me give me an indication of the likely cost of a lease extension? Corresponding properties in Dunchurch with over 90 years remaining are worth £191,000. The average or mid-range amount of ground rent is £55 levied per year. The lease expires on 21st October 2078
With only 54 years left to run the likely cost is going to be between £31,400 and £36,200 as well as legals.
The figure that we have given is a general guide to costs for extending a lease, but we are not able to provide a more accurate figure without more comprehensive investigations. Do not use the figures in a Notice of Claim or as an informal offer. There may be additional issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Neither should you move forward based on this information before getting professional advice.