Having been suggested to visit your organisation we were about to appoint conveyancing solicitor in Somersham recommended by you but stumbled across some other costs illustrations on the internet seem less pricey – why is this?
There are plenty of solicitors offering theoretically looks to be very low prices. We would encourage you to give due consideration as to how much you respect your own move to want to take 'cheap' risks with regard to the quality of the legal work. Some hide extras deep into the terms of engagement. The law firms that we put forward for conveyancing in Somersham will notdo this.
Our Somersham solicitor has identified an inconsistency when comparing the assumptions in the home valuation report and what is in the conveyancing documents. My solicitor informs me that he needs to check that the bank is happy with this discrepancy and is content to go ahead. Is my solicitor’s approach correct?
Your lawyer must comply with the UK Finance Lenders’ Handbook conditions which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. 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 have been referred to a conveyancing solicitor in Somersham. I I would like to check if they are on the Barnsley Building Society approved list of lawyers. Can you assist?
The first thing to do is e-mail your solicitor and enquire if they are on the lender panel. Otherwise you can call Barnsley Building Society who may be able to assist.
Have completed on a a terraced house in Somersham , What is the estimated time for the Land Registry to record my ownership? My Somersham conveyancing solicitor works at snail pace, so I want to be sure the post completion formalities are addressed.
There is nothing unique about conveyancing in Somersham registration formalities. Rather than based on location, timescales can vary depending on who lodges the application, whether there are errors and whether the Land registry communicate with any 3rd parties. Currently in the region of three quarters of submission are completed within 12 days but some can be subject to protracted delays. Historically registration takes place once the buyer is living at the premises thus post completion formalities is not usually an essential issue yet if there is a degree of urgency associated with the registration then you or your lawyers could communicate with the Registry to express the reasoning for the application to be prioritised.
I am purchasing a new build house in Somersham benefiting from help to buy. The builders would not reduce the amount so I negotiated 6k of additionals instead. The estate agent told me not reveal to my conveyancer about the extras as it will adversely affect my mortgage with Bank of Ireland. 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.
Last December I purchased a leasehold flat in Somersham. Do I have any liability for service charges relating to a period prior to my ownership?
In a situation where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I am the registered owner of a 1st floor flat in Somersham, conveyancing formalities finalised in 2005. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Comparable flats in Somersham with an extended lease are worth £265,000. The ground rent is £50 charged once a year. The lease ceases on 21st October 2099
With 75 years remaining on your lease we estimate the premium for your lease extension to span between £8,600 and £9,800 as well as costs.
The figure above a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of detailed due diligence. You should not use the figures in tribunal or court proceedings. There may be other concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information before seeking the advice of a professional.