Recently been in touch with my conveyancing lawyer in Alston who completed the legal work 18 months ago asking for a conveyancing quote based on the same type of home move (a leasehold residence and a freehold premises) of similar values with a home loan from Yorkshire Building Society. I am now being quoted double. Should I hunt for an alternative property lawyer?
The charges seem a little high. If you are content to spend time comparing charges you might reduce the fees marginally by perhaps £125. On the other hand, if you were content with the conveyancing the firm provided you maycome to regret opting for an an unknown conveyancer. Remember to check that the solicitor can act for Yorkshire Building Society. You can make use of our search tool to get a quote a Alston conveyancing firm on the Yorkshire Building Society approved list of lawyers, which can often include conveyancing solicitors in Alston.
The sellers of the house we are purchasing have appointed a conveyancing firm in Alston who has insisted on a exclusivity agreement with a down payment 10k. Are such agreements promoted for Alston conveyancing transactions?
There are a couple of main downsides with executing a lock out contract (also referred to as a shut-out contract) is that it diverts attention away from making progress with the conveyancing work, so in the absence of it needing little or no negotiation then it may turn out to be a hindrance. It is not promoted by Alston conveyancing lawyers for this reason. The other main issue is the extent of the remedies available - a jilted purchaser is not likely to obtain an injunctive ruling by a court to prohibit the owner selling to an alternative purchaser, so the only remedy open via the agreement will be the recovery of abortive charges and, in rare circumstances, the extra payment of damages.
Can you clarify what the consequences are if my lawyer’s firm is expelled from the Clydesdale Conveyancing panel ahead of completing my conveyancing in Alston?
The first thing to point out is that, this is a very rare occurrence. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit for a fee.
I had a mortgage agreed in principle with UBS. Alston conveyancing lawyers have been instructed. How long does it take for UBS to issue the offer to the property lawyer?
Some lenders take longer than others. Have UBS done the survey? Have you informed UBS as to your lawyers' details and checked that your lawyers are on the UBS conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
It is unclear whether my lender requires a lease extension. I have called my Alston building society branch on numerous occasions and was informed it wasn't an issue and they would lend. My Alston conveyancing solicitor - who is on the bank conveyancing panel- telephoned and was told they will not lend based on their specific requirements. I have no idea who is right.
The conveyancer has to comply with the Council of Mortgage Lenders’ Handbook section two conditions for your lender. Unless your lawyer obtains specific confirmation in writing that the lender will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the mortgage company to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
Intending to buy a flat in Alston. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Bank of Ireland conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Alston solicitor is on the Bank of Ireland conveyancing panel.
The deeds to my house are lost. The lawyers who conducted the conveyancing in Alston 5 years ago no longer exist. What do I do?
Assuming you have a registered title the details of your proprietorship will be evidenced by the Land Registry with a Title Number. It is easy to execute a search at the Land Registry, identify your property and get current copies of the Registered Entries for less than a fiver. If the property is Leasehold then the Land Registry will in most cases hold a file copy of the Registered Lease and again, a copy can be ordered for twenty pounds.
Completion is due on our sale of a £175,000 garden flat in Alston in just under a week. The management company has quoted £312 for Certificate of Compliance, building insurance schedule and 3 years statements of service charge. Is the landlord entitled to charge such fees for a flat conveyance in Alston?
For the majority of leasehold sales in Alston conveyancing will involve, queries regarding the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :
Addressing conveyancing due diligence questions
Where consent is required before sale in Alston
Copies of the building insurance and schedule
Deeds of covenant upon sale
Registering of the assignment of the change of lessee after a sale
I purchased a leasehold flat in Alston, conveyancing was carried out 5 years ago. Can you work out an approximate cost of a lease extension? Comparable flats in Alston with over 90 years remaining are worth £265,000. The ground rent is £50 levied per year. The lease ends on 21st October 2096
With only 75 years unexpired we estimate the price of your lease extension to be between £8,600 and £9,800 as well as professional fees.
The figure that we have given is a general guide to costs for renewing a lease, but we are not able to supply a more accurate figure without more detailed due diligence. Do not use the figures in tribunal or court proceedings. 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 take any other action based on this information without first getting professional advice.