The solicitor who helped my former purchase has given a fee calculation of £1700 for no sale no fee conveyancing in Bookham. I’m selling a Georgian detached home for £225,000. Is this expensive? Is it in excess of what I should be paying for conveyancing in Bookham?
The estimate does seem marginally overpriced. If you are willing to invest time contrasting costs you could get the conveyancing a bit cheaper by say a hundred pounds. That being said, you couldlive to rue choosing an an untested conveyancer. Remember to check that the firm can act for your lender. Do make use of our comparison tool to select a Bookham conveyancing firm on the lender’s approved list of lawyers which can often include conveyancing solicitors in Bookham.
I am acquiring a new build duplex in Bookham and my solicitor is informing me that she has to the mortgage company to reveal incentives from the builder. I am nearing the developer’s deadline to exchange and I would rather not prolong the conveyancing. is my lawyer playing by the book?
You should not exchange unless you have been advised to do so by your conveyancer. A precondition to being on a lender panel is to comply with the UK Finance Lenders’ Handbook requirements. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
It is is a decade since I bought my home in Bookham. Conveyancing lawyers have recently been instructed on the sale but I can't locate my title deeds. Will this jeopardise the sale?
You need not be too concerned. First the deeds may be kept by your mortgage company or they may be archived with the conveyancers who acted in your purchase. Secondly in all probability the land will be recorded at the land registry and you will be able to prove you are the registered owner by your conveyancing lawyers obtaining current official copies of the land registers. The vast majority of conveyancing in Bookham relates to registered property but in the unlikely event that your property is unregistered it adds to the complexity but is not insurmountable.
I have an AIP. The lender mentioned the mortgage came with free conveyancing. Does this mean I have to use their panel lawyer as I would much rather appoint a high street conveyancing solicitor in Bookham?
You should check but the chances are that appoint one of their panel solicitors should you want the "fee-free" incentive. Speak to the lender to determine if they offer you a cash alternative. In the past a few lenders offered a £250 cashback as an alternative in which case that money can go towards the cost for your conveyancing solicitor in Bookham.
I am a negotiator for a long established estate agent office in Bookham where we have experienced a few flat sales derailed due to short leases. I have been given inconsistent advice from local Bookham conveyancing firms. Please can you clarify whether the owner of a flat can initiate the lease extension formalities for the buyer?
Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer can avoid having to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or at the same time as completion of the sale.
Alternatively, it may be possible to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.
Bookham Leasehold Conveyancing - A selection of Questions you should ask Prior to Purchasing
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In the main the cost for major works are not included within service charges, albeit that there some managing agents in Bookham require tenants to pay into a reserve fund created for the specific intention of establishing a fund for larger works. It is important to be aware whether window replacement or some other major work is due shortly that will be shared by the leaseholders and will dramatically impact the level of the maintenance costs or necessitate a specific payment. The best form of lease structure is if the freehold title is in the ownership of the leaseholders. In this situation the tenants enjoy control and even though a managing agent is often employed if it is larger than a house conversion, the managing agent acts for the leaseholders themselves.
We are hoping to buy a repossessed house in Bookham and the vendor require completion within 28 days. Can a conveyancing practitioner meet that timeframe? Would it be better to use a high street Bookham firm or an online conveyancer that professes to complete quickly?
Attend your Bookham shopping parade. Pop in to 3 firms and ask to talk to a conveyancing solicitor for a quote. Set out your requirements and seek a commitment on time frames. Choose the firm that seems most efficient. You need to use a property lawyer on the list of property lawyers who can act for your mortgage company.