I was recommended to a lawyer who has given a fee calculation of £1400 for leasehold conveyancing in Hightown. I’m selling a Georgian property for £275,000. Is this expensive? Is it above the norm for conveyancing in Hightown?
The charges are a bit high. If you are happy to spend time scrutinising charges you might shave off some of the cost by perhaps £125. That being said, you couldcome to rue opting for an an unknown solicitor. If is important to check the solicitor can also act for your bank. You can employ our search tool to get a quote a Hightown conveyancing practice on the banks member panel which can often include conveyancing solicitors in Hightown.
I do hope you can assist me. My Hightown solicitor is advising me that he has toorder Hightown conveyancing searches resulting from the fact thatthe firm are on the Santanderapproved lawyer panel. Is this really necessary?
You have limited options available to you. As you are taking a mortgage with a mortgage company your property lawyer has to comply with their conditions as set out in their version of the CML Conveyancing Handbook. Your property lawyer would have previously signed the Terms and Conditions of your bank’s conveyancing panel appointment which obliges them to follow the Council of Mortgage Lenders’ Handbook specifications . Even if you were a cash buyer you would be ill advised not to carry out Hightown conveyancing searches.
My brother-in-law has suggested I instruct a conveyancing solicitor in Hightown. I I am struggling to find out whether they are accepted on the HSBC Bank conveyancing panel. Could you or the lender confirm if they are on the panel?
You should call the solicitor and ask them whether they can act for the lender. Otherwise you should get in touch with HSBC Bank who may be able to help.
I am buying a new build apartment in Hightown. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build legal work.
Here are examples of a selection of leasehold new build questions that you should expect your new-build leasehold conveyancing in Hightown
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Forfeiture - bankruptcy or liquidation must not apply under this provision. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? Please supply a car parking plan. Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme.
I opted to have a survey completed on a house in Hightown in advance of instructing conveyancers. I have been told that there is a flying freehold element to the property. Our surveyor has said that some lenders may refuse to grant a mortgage on such a property.
It varies from the lender to lender. Santander has different instructions for example to Birmingham Midshires. Should you wish to telephone us we can check via the appropriate mortgage company. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Hightown. Conveyancing may be slightly more expensive based on your lender's requirements.
I work for a busy estate agency in Hightown where we have experienced a number of flat sales derailed as a result of leases having less than 80 years remaining. I have received inconsistent advice from local Hightown conveyancing solicitors. Please can you confirm whether the owner of a flat can start the lease extension process for the buyer?
Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer can avoid having to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or simultaneously with completion of the disposal of the property.
An alternative approach is 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 buyer.
Leasehold Conveyancing in Hightown - Sample of Questions you should consider before buying
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How much is the ground rent and service charge? How is the lease structured? Plenty Hightown leasehold apartments will incur a service charge for maintenance of the block set by the landlord. Where you buy the apartment you will have to pay this amount, normally quarterly throughout the year. This can vary from a few hundred pounds to thousands of pounds for large purpose-built blocks. There will also be a ground rent for you to pay yearly, ordinarily this is not a large sum, say around £25-£75 but you need to enquire it because sometimes it can be prohibitively expensive.