We are expecting a mortgage offer soon. The lender mentioned the mortgage came with free conveyancing. Does this mean I have to instruct their panel solicitor as I would much rather appoint a high street conveyancing solicitor in Coombe Dingle?
You should check but the chances are that appoint one of their panel lawyers where you want the "fee-free" offer. Contact the lender to explore if they allow a monetary alternative. It is not unheard for a lender to give a £250 cashback as a further option in which case you could put that amount towards the cost for your conveyancing solicitor in Coombe Dingle.
We are selling our house in Coombe Dingle and according to the buyers it appears that there is a risk of it being constructed on contaminated land. A local conveyancer would know this is not the case. For the life of me I don't know why the purchasers instructed a web based conveyancing firm rather than a conveyancing solicitor in Coombe Dingle. We have lived in Coombe Dingle for many years we know of no issue. Is it a good idea to contact our local Authority to obtain clarification that the buyers are looking for.
It sounds as though you may have a conveyancing solicitor already. What do they say? You must check with 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)
four months have gone by following my purchase conveyancing in Coombe Dingle concluded. I have checked the Land Registry site which shows that I paid £150,000 when infact I paid £215,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the property from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I decided to have a survey done on a house in Coombe Dingle prior to retaining solicitors. I have been informed that there is a flying freehold aspect to the house. The surveyor advised that some banks tend not issue a mortgage on such a property.
It depends who your proposed lender is. Lloyds has different instructions from Nationwide. Should you wish to telephone us we can look into this further via the relevant lender. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Coombe Dingle. Conveyancing will be smoother if you use a solicitor in Coombe Dingle especially if they are familiar with such properties in Coombe Dingle.
Can you provide any top tips for leasehold conveyancing in Coombe Dingle with the purpose of speeding up the sale process?
- Much of the frustration in leasehold conveyancing in Coombe Dingle can be bypassed where you appoint lawyers the minute your agents start advertising the property and ask them to collate the leasehold information needed by the purchasers’ lawyers. If you have had any disputes with your freeholder or managing agents it is essential that these are resolved prior to the flat being marketed. The buyers and their solicitors will be warry about purchasing a flat where there is an ongoing dispute. You may need to swallow your pride and discharge any arrears of service charge or resolve the dispute prior to completion of the sale. 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 details of the dispute to the buyers, but it is clearly preferable to reveal the dispute as over as opposed to ongoing. The majority of landlords or Management Companies in Coombe Dingle charge for supplying management packs for a leasehold premises. You or your lawyers should find out the actual amount of the charges. The management information can be applied for as soon as you have a buyer, thus accelerating the process. The typical amount of time it takes to receive management information is three weeks. It is the most common reason for delay in leasehold conveyancing in Coombe Dingle. You may think that you are aware of the number of years remaining on your lease but it would be advisable double-check via your solicitors. A buyer’s conveyancer will be unlikely to recommend their client to where the remaining number of years is less than 80 years. It is therefore important at an as soon as possible that you identify whether the lease for your property needs extending. If it does, contact your solicitors before you put your premises on the market for sale.
I invested in buying a studio flat in Coombe Dingle, conveyancing formalities finalised 10 years ago. Can you work out an approximate cost of a lease extension? Comparable properties in Coombe Dingle with a long lease are worth £191,000. The ground rent is £55 invoiced annually. The lease runs out on 21st October 2078
With only 54 years left to run we estimate the price of your lease extension to span between £31,400 and £36,200 plus costs.
The figure above a general guide to costs for renewing a lease, but we are not able to provide the actual costs in the absence of comprehensive investigations. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be considered and clearly you should be as accurate as possible in your negotiations. Neither should you take any other action based on this information without first seeking the advice of a professional.
I am just shy of a 10% deposit on my house purchase in Coombe Dingle , but I still want to exchange. Do I have options?
You can agree a lower deposit. Most sellers will agree to a lesser deposit or even no deposit for a first time buyer or 100% mortgage. Be aware though that if you fail to complete you will still need to hand over a minimum of 10% of the purchase price regardless of how much deposit was agreed.
You can also agree a simultaneous exchange and completion as no deposit is required for this however neither party will be tied in until completion actually takes place and it can be risky if sellers change their mind at the last moment