Just contacted my conveyancing solicitor in Bow Street who acted for me two years ago requesting a conveyancing costs illustration based on the same type of house sale & purchase (a leasehold residence and a freehold premises) of almost identical values with a home loan from Alliance & Leicester . It looks as though am now being charged twice the amount. Better the devil I know or do I seek out an alternative conveyancer?
The estimate does seem a little steep. If you are happy to expend time scrutinising costs you could trim some of the cost by as much as £125. That being said, assuming were content with the legal work the firm offered you couldlive to rue opting for an a cheaper conveyancer. If is important to ensure the firm can act for Alliance & Leicester . You can use our search tool to select a Bow Street conveyancing firm on the Alliance & Leicester member panel, which can often include conveyancing solicitors in Bow Street.
I am need of leasehold conveyancing for a flat in a fairly new development (seven years built) in Bow Street. 95% of the properties are already sold. Do I need carry out the local searches as part of conveyancing in Bow Street?
You would be putting yourself at risk in not carrying out Bow Street conveyancing searches. Without searches you have no clarity over flooding, environmental etc which may mean you walk away due to potential problems down the line. If you are buying mortgage free there is no legal necessity to have them, but we would absolutely advise in no uncertain terms that your conveyancer conducts them. Where accelerating the process and cost are primary concerns you should discuss with your conveyancer about the option of search insurance
It is is a decade since I bought my property in Bow Street. Conveyancing solicitors have now been instructed on the sale but I am unable to locate my title documents. Is this a major issue?
You need not be too concerned. First the deeds may be with the mortgage company or they could be in the possession of the lawyers who oversaw your purchase. Secondly in most cases the property will be registered at the land registry and you will be able to prove you own the property by your conveyancing lawyers obtaining up to date copy of the land registers. The vast majority of conveyancing in Bow Street involves registered property but in the rare situation where your home is unregistered it is more of a problem but is not insurmountable.
I have 70 years remaining on my lease and need a lease extension for my apartment in Bow Street. Conveyancing solicitors on the Chelsea Building Society panel can deal with such extensions right?
Most leasehold conveyancing experts should be able to deal with a lease extension. if you are obtaining a mortgage then your lender may insist that the lease be extended before competition. Chelsea Building Society have specific requirements as set out in the UK Finance Lenders’ Handbook in relation to minimum unexpired lease terms. As of 19/4/2024 the requirements read as follows :
I purchased my flat on 10 November and my personal details is yet to be on the land registry website. Any reason for this? My conveyancing solicitor in Bow Street advises it will be dealt with in less than a month. Are properties in Bow Street particularly slow to register?
There is nothing unique about conveyancing in Bow Street registration formalities. As opposed to being determined by geographic area, timescales can vary subject to the party submitting the application, whether it is in order and whether the Land registry communicate with any third parties. At present in the region of 80% of submission are fully addressed in less than three weeks but some can be subject to longer delays. Registration takes place after the new owner is living at the premises thus registration formalities is not always primary concern yet where it is urgent that the the registration takes place urgently then you or your solicitor could contact the land registry and explain the circumstances.
Yesterday I discovered that there is a flying freehold issue on a property I have offered on last month in what was supposed to be a straight forward, no chain conveyancing. Bow Street is where the house is located. Is there any guidance you can give?
Flying freeholds in Bow Street are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Bow Street you must be sure that your lawyer goes through the deeds very carefully. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Bow Street 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.