My best friend’s sister is a property lawyer. I hope that I'll be able to get mate’s rates for conveyancing, but if not, what kind of figure would I typically be looking at for conveyancing in Bakewell?
It’s wise to request multiple conveyancing estimates. Do use our search tool on this site. The fees will contrast greatly but the service one can expect are distinct between solicitors as is the case with the vast majority of professional services.
About to place an offer on a leasehold property in Bakewell. The estate agents say that it is usual for flats in Bakewell to have less than 75 years remaining. I am getting a loan with Accord Mortgages. Is this going to be acceptable if the lease has 72 years left.
Most leasehold conveyancing experts should be able to deal with a lease extension. if you are getting a mortgage then your lender may insist that the lease be extended before competition. Accord Mortgages have specific requirements as set out in the UK Finance Lenders’ Handbook in relation to minimum unexpired lease terms. As of 15/5/2023 the requirements read as follows :
We are close to exchanging contracts on the sale of our home in Bakewell and according to the buyers it appears that there is a risk of it being constructed land that was not decontaminated. A high street Bakewell lawyer would know that there is no such problem. It does beg the question why the purchasers used a factory type conveyancing firm rather than a conveyancing solicitor in Bakewell. Having lived in Bakewell for many years we know of no issue. Should we get in touch with our local Authority to get confirmation that there is no issue.
It sounds as though you may have a conveyancing solicitor already. What do they say? You should enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same illness)
I've recently found out that there is a flying freehold issue on a house I have offered on two weeks back in what was supposed to be a straight forward, chain free conveyancing. Bakewell is the location of the property. Can you shed any light on this issue?
Flying freeholds in Bakewell are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Bakewell you must be sure that your lawyer goes through the deeds diligently. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Bakewell may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
I am selling my home. My former solicitors closed down. I am in need of a recommendation of a conveyancing firm. Im based in Bakewell if that makes a difference.
Do use our search tool to help you choose a solicitor for your conveyancing in Bakewell. We have connected thousands of home buyers and sellers with regulated solicitors to ensure that the legalities of their house move runs with a minimum of fuss.
Do you have any top tips for leasehold conveyancing in Bakewell from the perspective of saving time on the sale process?
- A significant proportion of the frustration in leasehold conveyancing in Bakewell can be reduced where you get in touch lawyers the minute you market your property and ask them to collate the leasehold documentation which will be required by the purchasers’ conveyancers. If you are supposed to have a share in the freehold, you should make sure that you hold the original share certificate. Organising a re-issued share certificate is often a time consuming formality and frustrates many a Bakewell home move. Where a new share is necessary, you should approach the company director and secretary or managing agents (if applicable) for this as soon as possible. A minority of Bakewell leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, you should place the estate agents on notice to make sure that the purchasers put in hand financial (bank) and professional references. Any bank reference should make it clear that the buyer is able to meet the yearly service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the service charge figures so that they can pass this information on to the buyers or their lawyers. If you have carried out any alterations to the residence would they have required Landlord’s approval? In particular have you installed wooden flooring? Bakewell leases often stipulate that internal structural changes or installing wooden flooring calls for a licence from the Landlord consenting to such changes. Where you fail to have the paperwork in place you should not contact the landlord without checking with your solicitor in advance. You may think that you are aware of the number of years left on your lease but it would be wise to verify this via your conveyancers. A purchaser's conveyancer will not be happy to advise their client to to exchange contracts if the lease term is under 75 years. It is therefore essential at an early stage that you consider whether the lease term requires a lease extension. If it does, contact your solicitors before you put your premises on the market for sale.
I invested in buying a 1st floor flat in Bakewell, conveyancing was carried out 5 years ago. 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? Equivalent flats in Bakewell with over 90 years remaining are worth £191,000. The average or mid-range amount of ground rent is £55 invoiced every year. The lease comes to an end on 21st October 2077
With 54 years remaining on your lease we estimate the premium for your lease extension to range between £32,300 and £37,400 plus plus your own and the landlord's "reasonable" professional fees.
The figure that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more comprehensive due diligence. You should not use this information in tribunal or court proceedings. There are no doubt additional issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Neither should you move forward based on this information before getting professional advice.