I chose a Cudworth based firm for my conveyancing in Cudworth yesterday. After carefully reading the Terms I noteI am liable for fees even if our purchase doesn't happen. Should I ditch them and use an internet conveyancing brokerage offering no move no charge conveyancing in Cudworth?
Generally there is a concession along the lines that if "No Completion No Fee" is advertised then the fee levels will generally be more expensive to counteract the cases that fail to complete. Dont forget that these promotions rarely cover outlay for instance Cudworth conveyancing search charges.
We note that you have a post code search directory identifying solicitors on the Santander conveyancing panel. Do firms pay you a referral fee if I appoint them for our conveyancing in Cudworth?
We are a listing service only for law firms wishing to communicate if they are on the Santander conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Cudworth.
My husband and I have arranged a further advance on our mortgage from Bank of Ireland as we want to conduct renovations to our home in Cudworth. Do we need to appoint a high street Cudworth solicitor on the Bank of Ireland conveyancing panel to handle the legals?
Bank of Ireland would not normally appoint firms on their conveyancing panel to handle the formalities. If they do require any legal work then you would need to ensure that such a lawyer was on the Bank of Ireland panel.
The mortgage over my property is with Kent Reliance for my property in Cudworth. Conveyancing has been completed 12 months ago. Should I wish to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Kent Reliance?
You must advise Kent Reliance before renting your property as this is likely to be a breach of Kent Reliance’s mortgage conditions. In many cases banks or building societies will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Kent Reliance directly. It should not be necessary to do this via a Kent Reliance conveyancing panel lawyer.
Bank of Ireland have agreed my home loan in principle, my bid on a property in Cudworth has been accepted, what happens next?
The estate agent will need to be informed of your lawyer's details (ensure that the property lawyers are on the lender’s panel). Contact Bank of Ireland or your broker and finish off any outstanding documentation. Bank of Ireland will appoint a valuer who will get in contact with the estate agent or vendor to book an appointment. Once carried out (assuming no problems) it takes approximately a fortnight to get a mortgage offer. Bank of Ireland will send the offer to you and your solicitors. The transaction will then take it’s course according the nature and complexity of the conveyancing in Cudworth.
Yesterday I discovered that there is a flying freehold issue on a property I have offered on last month in what should have been a simple, chain free conveyancing. Cudworth is the location of the property. Can you shed any light on this issue?
Flying freeholds in Cudworth are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Cudworth you must be sure that your lawyer goes through the deeds thoroughly. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Cudworth may decide 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.
Do you have any top tips for leasehold conveyancing in Cudworth from the point of view of speeding up the sale process?
- Much of the delay in leasehold conveyancing in Cudworth can be reduced where you get in touch lawyers as soon as you market your property and request that they start to put together the leasehold information needed by the purchasers’ solicitors. Some Cudworth leases require Licence to Assign from the landlord. If this applies to your lease, it would be prudent to notify your estate agents to make sure that the purchasers obtain financial (bank) and professional references. The bank reference will need to confirm that the buyers are able to meet the yearly service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the actual amount of the service charge so that they can pass this information on to the buyers or their solicitors. You believe that you know the number of years left on your lease but you should double-check via your conveyancers. A purchaser's conveyancer will be unlikely to recommend their client to to exchange contracts if the remaining number of years is less than 75 years. In the circumstances it is essential at an early stage 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. If you are supposed to have a share in the freehold, you should make sure that you have the original share certificate. Arranging a replacement share certificate is often a time consuming formality and slows down many a Cudworth conveyancing deal. Where a new share certificate is needed, you should approach the company director and secretary or managing agents (if applicable) for this as soon as possible.
I purchased a 2 bed flat in Cudworth, conveyancing was carried out June 2011. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Corresponding flats in Cudworth with a long lease are worth £201,000. The ground rent is £45 per annum. The lease finishes on 21st October 2090
With 65 years unexpired we estimate the premium for your lease extension to be between £13,300 and £15,400 plus professional fees.
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 without more comprehensive due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There may be other concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. You should not move forward based on this information before getting professional advice.
If instructed can a conveyancer remove someone from the title of my home in Cudworth ?
Extracting or adding someone to the title of your home is relatively straightforward. You’ll need to appoint a lawyer to discuss your legal rights before you can proceed with a transfer of property. Contact us to book a free consultation with one a conveyancing practitioner