My family lawyer has given a fee calculation of £995 for leasehold conveyancing in Arlesey. I am hoping to sell a purpose built property for £150,000. Are these estimated fees excessive? Is it in excess of the norm for conveyancing in Arlesey?
The estimate does seem marginally overpriced. Where you are prepared to spend time contrasting charges you might shave off some of the cost by perhaps £125. That being said, you mightlive to regret opting for an an unknown solicitor. Don't forget to be sure that the firm can act for your mortgage company. You can use our search tool to get a quote a Arlesey conveyancing firm on the lender’s conveyancing panel which can often include conveyancing solicitors in Arlesey.
My wife and I are buying a property in Arlesey. It might be a silly question but how we can trust a lawyer? At some point we will need to put money into their account. What protection do we have from them run away with our monies?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
Does a directory service exist listing Kent Reliance panel conveyancers in Arlesey on the UK Finance Lenders’ Handbook Website?
No. There is no such facility on the CML or Building Society Association websites. Very few banks make their panel listings available over the internet. If you are seeking to appoint a Arlesey conveyancer on the Kent Reliance please make the most of our facility.
I have a mortgage with Co-operative for my property in Arlesey. Conveyancing was finalised months ago. If I am intending to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Co-operative?
You must advise Co-operative prior to renting your property as this is likely to be a breach of Co-operative’s mortgage conditions. In many cases banks or building societies will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Co-operative directly. It should not be necessary to do this via a Co-operative conveyancing panel solicitor.
Various internet forums that I have come across warn that are the number one reason for stalling in Arlesey conveyancing transactions. Is that correct?
The Council of Property Search Organisations (CoPSO) released findings of a review by MoveWithUs that conveyancing searches do not feature within the most frequent causes of delays during the legal transfer of property. Local searches are unlikely to be the root cause of delay in conveyancing in Arlesey.
My wife and I own a semi-detached Victorian property in Arlesey. Conveyancing lawyer acted for me and Coventry Building Society. I did a free Land Registry search last week and I saw a couple of entries: the first freehold, the second leasehold with the matching property. I thought I was buying a freehold how can I check?
You need to read 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 Arlesey and other locations in the country and poses no real issues for owners other than when they remortgage they have to account for both freehold and leasehold interests when dealing with buyers. You can also question the situation with the conveyancing lawyer who conducted the conveyancing.
I am a sole trader planning to take over a lease of an office on the high street. Can you recommend solicitors offering no-sale-no costs for non-domestic conveyancing in Arlesey for less than 2k?
We can recommend firms who have an in-depth of experience of commercial conveyancing in Arlesey, including the sale and purchase of businesses as well as simply premises. If you are intending to purchase or lease a shop, pub, restaurant, office, retail premises or a whole business we will put you in touch with the right firm. Regarding the fees this will depend on the structure and terms of the proposed transaction. Please provide us with your contact information or call so as to enable us to provide you with comprehensive commercial conveyancing calculation.
Last January I purchased a leasehold flat in Arlesey. Do I have any liability for service charges relating to a period prior to completion of my purchase?
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 ensure 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 bought a studio flat in Arlesey, conveyancing was carried out August 1999. Can you please calculate a probable premium for a statutory lease extension? Comparable properties in Arlesey with a long lease are worth £216,000. The ground rent is £50 invoiced every year. The lease comes to an end on 21st October 2094
You have 69 years remaining on your lease the likely cost is going to span between £9,500 and £11,000 plus professional fees.
The figure that we have given is a general guide to costs for renewing a lease, but we are not able to advice on the actual costs without more comprehensive due diligence. Do not use the figures in tribunal or court proceedings. There are no doubt other concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Neither should you take any other action based on this information without first seeking the advice of a professional.