The conveyancer who helped my previous purchase has sent a quote for £995 for freehold conveyancing in Chorlton. I am selling a Edwardian house for £125,000. Are the quoted fees excessive? Is it in excess of the average fee for conveyancing in Chorlton?
The estimate does seem a tad overpriced. If you shop around you might trim some of the expense by perhaps £125. That being said, you mightlive to regret choosing an an untested conveyancer. Remember to enquire that the conveyancer can also act for your bank. You can use our comparison tool to get a quote a Chorlton conveyancing company on the banks conveyancing panel which can often include conveyancing solicitors in Chorlton.
Our Chorlton solicitor has identified an inconsistency between the information in the home valuation report and what is revealed within the conveyancing documents. My lawyer has advised that he needs to ensure that the lender is OK with this discrepancy and is still content to lend. Is my conveyancer’s approach legitimate?
Your property lawyer must comply with the UK Finance Lenders’ Handbook requirements which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for both parties.
What is the best way to find out if the solicitor conducting my conveyancing in Chorlton is on the lender’sapproved panel? I am looking to avoid the situation of having one lawyer for me and one for The Mortgage Works thus spending £175.00 in additional legal charges.
Feel free to make the most of the find a conveyancing panel solicitor tool on this site. Please choose the mortgage company and type ‘Chorlton’ or your location and you will see numerous solicitors located in Chorlton or nearest you.
Me and my brother purchased a renovated Edwardian house in Chorlton. Conveyancing lawyer acted for me and Bank of Scotland. I did a free Land Registry search last week and I saw two entries: one for freehold, the second leasehold under the matching property. I'd like to know for sure, how can I find out??
You should read the Freehold register you have again and check the Charges Register for 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 Chorlton and other locations in the country and poses no real issues for owners other than when they buy they have to account for both freehold and leasehold interests when dealing with purchasers. You can also enquire as to the position with the conveyancing lawyer who conducted the work.
Over the last few months I have been searching for a ground for flat up to £245,000 and identified one round the corner in Chorlton I like with open areas and station in the vicinity, however it only has 49 years unexpired on the lease. There is not much else in Chorlton in this price bracket, so just wondered if I would be making a mistake purchasing a lease with such few years left?
If you require a home loan the shortness of the lease may be a potential deal breaker. Reduce the price by the amount the lease extension will cost if not already taken into account. If the current owner has owned the property for at least twenty four months you may request that they start the process of the extension 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 consult your conveyancing solicitor about this matter.
I am a negotiator for a reputable estate agent office in Chorlton where we have witnessed a few flat sales derailed due to leases having less than 80 years remaining. I have been given contradictory information from local Chorlton conveyancing firms. Please can you confirm whether the owner of a flat can commence the lease extension process for the buyer?
As long as the seller has owned the lease 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 proposed purchaser 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 before, or simultaneously with completion of the sale.
Alternatively, it may be possible to extend the lease informally by agreement with the landlord 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 purchaser.
I inherited a studio flat in Chorlton, conveyancing having been completed 5 years ago. How much will my lease extension cost? Similar properties in Chorlton with over 90 years remaining are worth £190,000. The ground rent is £65 invoiced annually. The lease finishes on 21st October 2082
With only 61 years left to run the likely cost is going to be between £18,100 and £20,800 as well as costs.
The figure that we have given is a general guide to costs for extending a lease, but we are not able to advice on the actual costs without more detailed due diligence. Do not use this information in tribunal or court proceedings. There are no doubt additional concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information without first getting professional advice.