My partner’s brother is a conveyancing practitioner. I hope that I can be offered friends and family pricing for conveyancing, but if not, what level of fees should I be paying for conveyancing in Bardsley?
It’s sensible to seek two or three conveyancing quotes. Do use our comparison tool on this site. You will notice that quotes may contrast greatly but service levels do differ between solicitors as is true with most professions.
We were going to get a DIP from Santander this week so we can work out what to offer on a property we like as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc). Do Santander recommend any Bardsley solicitors on the Santander conveyancing panel, or is it better to go independently?
You will need to appoint Bardsley solicitors independently although you'll need to choose one on the Santander conveyancing panel. The solicitor represents both you and Santander through the process.
I can not work out if my bank requires a lease extension. I have telephoned my Bardsley bank branch on numerous occasions and was told they are content with the situation and they would lend. My Bardsley conveyancing solicitor - who is on the mortgage company conveyancing panel- called and was told they refuse to lend in accordance with their specific requirements. Who do I believe?
Provided that the solicitor is on the mortgage company panel, they must adhere to the CML Handbook conditions for the 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 bank to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
I have instructed a Bardsley lawyer having checked that they are on the Barclays conveyancing panel. Does my lawyer arrange the survey of the property?
Barclays will need an independent valuation of the property. Your lawyer will not arrange this. Usually Barclays will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. Your lawyer will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by your Bardsley postcode. As you are getting a mortgage with Barclays, you could contact them to see if they have a list of approved surveyors in Bardsley.
Various online forums that I have frequented warn that are the main cause of stalling in Bardsley conveyancing transactions. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) published conclusions of a review by MoveWithUs that conveyancing searches do not feature within the top 10 causes of hindrances during the legal transfer of property. Searches are unlikely to feature in any slowing down conveyancing in Bardsley.
Over the last few months I have been searching for a leasehold apartment up to £195,000 and identified one round the corner in Bardsley I like with open areas and station in the vicinity, the downside is that it's only got 49 remaining years left on the lease. There is not much else in Bardsley for this price, so just wondered if I would be making a grave error acquiring a short lease?
If you require a mortgage that many years will likely be an issue. Reduce the offer by the amount the lease extension will cost if not already taken into account. If the existing owner has owned the premises for a minimum of twenty four months you may request that they commence the lease extension formalities and then assign it to you. You can add 90 years to the existing lease term and have £0 ground rent by law. You should speak to your conveyancing lawyer regarding this matter.
Do you have any top tips for leasehold conveyancing in Bardsley from the point of view of saving time on the sale process?
- A significant proportion of the delay in leasehold conveyancing in Bardsley can be bypassed if you instruct lawyers as soon as you market your property and ask them to collate the leasehold documentation needed by the buyers’ solicitors. A minority of Bardsley leases require Licence to Assign from the landlord. If this is the case, you should place the estate agents on notice to make sure that the purchasers obtain bank and professional references. The bank reference should make it clear that the buyer is financially capable of paying 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 actual amount of the service charge so that they can pass this information on to the purchasers or their lawyers. If there is a history of any disputes with your freeholder or managing agents it is essential that these are settled prior to the flat being marketed. The buyers and their solicitors will be nervous about purchasing a property where a dispute is unsettled. You will have to accept that you will have to discharge any arrears of service charge or settle the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You will still have to reveal particulars of the dispute to the purchasers, but it is clearly preferable to present the dispute as historic as opposed to ongoing. Many landlords or Management Companies in Bardsley levy fees for supplying management packs for a leasehold property. You or your lawyers should enquire as to the actual amount of the charges. The management pack can be applied for on or before finding a buyer, thus accelerating the process. The typical amount of time it takes to receive management information is three weeks. It is the most frequent cause of delay in leasehold conveyancing in Bardsley.
Bardsley Conveyancing for Leasehold Flats - Sample of Queries before buying
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How much is the ground rent and service charge? You should want to discover as much as possible concerning the managing agents as they will either make living at the property much easier or uncomfortable. As the proprietor of a leasehold property you are frequently at the mercy of the managing agents both financially and when it comes to practical matters such as the tidiness of the communal areas. Enquire of prospective neighbours what they think of them. In conclusion, be sure you discover the dates that the service charges are due to the managing agents and specifically what you get for your money. The best form of lease arrangement is a share of the freehold. In this situation the lessees benefit from control and although a managing agent is frequently retained where it is bigger than a house conversion, the managing agent acts for the leaseholders themselves.
My cousin is purchasing a basement flat in Bardsley. He has received a fee estimate by the property lawyer connected to the estate agents totaling £1385 . It was 7 years ago I sold and bought a property and the bill was £600. Have costs really escalated to that extent?
What does the conveyancing estimate include? Is it just for the legal fees, or what you will be paying in total (for example Bardsley searches, land registry fees, etc)