My fiance’s dad is a property lawyer. I anticipate that I will receive friends and family rates for conveyancing, but if not, what level of costs would I typically be looking at for conveyancing in Crewkerne?
It’s advisable to seek 3 or more like-for-like conveyancing estimates. Do use our search tool on this site. The fees will vary but service levels do differ between property lawyers as is the case with the vast majority of professional services.
The Crewkerne conveyancing firm handling our Crewkerne conveyancing has identified a difference when comparing the surveyor’s assumptions in the home valuation survey and what is revealed within the conveyancing documents. My solicitor informs me that he must ensure that the bank is OK with this discrepancy and is still content to lend. Is my conveyancer’s course or action legitimate?
Your conveyancing practitioner must comply with the UK Finance Lenders’ Handbook provisions 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.
When does exchange of contracts occur in purchase conveyancing in Crewkerne and do I need to attend the lawyers office?
Where you are local to our conveyancing solicitors in Crewkerne you are invited in to sign contracts. That being said, the firms we recommend provide countrywide coverage for conveyancing and give just as comprehensive and professional a job for you when dealing with you digitally. The signing of the contract is not when everything is set in stone. Signing on the dotted line simply enables the firm to officially exchange at the appropriate time, which is ordinarily shortly after signing. The exchange process is nowadays normally dealt with by telephone and can be very rapid, although where an extended "chain" is in play, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Crewkerne)to be in the office at the appropriate time.
How does conveyancing in Crewkerne differ for new build properties?
Most buyers of new build premises in Crewkerne approach us having been asked by the builder to exchange contracts and commit to the purchase even before the house is constructed. This is because house builders in Crewkerne tend to purchase the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Crewkerne or who has acted in the same development.
Back In 2007, I bought a leasehold house in Crewkerne. Conveyancing and Clydesdale mortgage went though with no issue. I have received a letter from someone claiming to own the freehold. It included a demand for arrears of ground rent dating back to 1992. The conveyancing solicitor in Crewkerne who previously acted has now retired. Do I pay?
First contact the Land Registry to make sure that this person is in fact the registered owner of the freehold reversion. There is no need to incur the fees of a Crewkerne conveyancing lawyer to do this as you can do this on the Land Registry website for a few pound. You should note that regardless, even if this is the rightful freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I purchased a studio flat in Crewkerne, conveyancing formalities finalised in 2008. Can you work out an approximate cost of a lease extension? Equivalent properties in Crewkerne with an extended lease are worth £185,000. The ground rent is £65 invoiced annually. The lease ends on 21st October 2085
With just 60 years left to run the likely cost is going to range between £20,000 and £23,000 as well as costs.
The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of comprehensive due diligence. You should 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 before getting professional advice.
When it comes to my conveyancing in Crewkerne should I be paying VAT on the following: (1) Land reg fee on purchase (2) Pre - completion search fee (3) SDLT E submission on purchase (4) Bank TT fee
(1) Land reg fee on purchase - No (2) Pre - completion search fees -No, (such conveyancing searches are HMLR ones and means £4 and possibly £2 bankruptcy per name on your mortgage) (3) SDLT E submission on your purchase - There is no VAT on Stamp Duty. However if the firm is charging a stamp duty e-submission fee as part of their services - some Crewkerne conveyancers do - that will incur VAT(4) Bank transfer fee - Yes it is for the solicitor's time in submitting the funds this way.