Our family lawyer has sent a quote for £1400 for no sale no fee conveyancing in Denbigh. I’m selling a purpose built house for £250,000. Are these estimated fees excessive? Is it above the average fee for conveyancing in Denbigh?
The charges are a little high. Where you are happy to invest time comparing quotes you may be able to get the conveyancing a bit cheaper by as much as £125. On the other hand, you maylive to rue opting for an an untested lawyer. Don't forget to check the solicitor can represent your mortgage company. Do employ our search tool to choose a Denbigh conveyancing firm on the banks approved list of lawyers which can often include conveyancing solicitors in Denbigh.
When researching mumsnet.com for a cheap lawyer in Denbigh, most say that I must use a CQS assured solicitor. What is CQS?
The Law Society's Conveyancing Quality Scheme is the recognised quality mark for legal experts in buying or selling property, trusted by some of the UK's biggest mortgage companies. Four years ago the Conveyancing Quality Scheme was officially recognised by the Legal Ombudsman. The scheme does not cover licenced conveyancers. Denbigh is one of the numerous areas in England and Wales where there are Accredited solicitors.
The deeds to my house can not be found. The solicitors who dealt with the conveyancing in Denbigh 5 years ago no longer exist. What are my options?
Assuming the title is registered the information relating to your ownership will be held by the Land Registry with a Title Number. It is possible to perform a search at the Land Registry, identify your house and order current copies of the Registered Entries for a small fee. If the title is Leasehold then the Land Registry will in most cases retain a certified copy of the Registered Lease and again, a copy can be obtained for a small fee.
Yesterday I discovered that there is a flying freehold element on a property I put an offer in last month in what should have been a quick, no chain conveyancing. Denbigh is where the house is located. Can you offer any opinion?
Flying freeholds in Denbigh are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Denbigh you must be sure that your lawyer goes through the deeds diligently. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Denbigh 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.
My husband and I are 14 days into a residential purchase having been referred to conveyancers by the selling agent to carry out the conveyancing in Denbigh. We are not happy. Can you you assist me in finding new solicitors?
A solicitor would need to be very bad in order to consider changing them. Has the mortgage offer been generated? In the event that it has you will need to make them aware of the new contact details and ensure the mortgage documents are issued to the new lawyers. Your new conveyancer should be on the lenders approved list to avoid added expenses and complications. So that should be your starting point. The find a solicitor tool can assist you in finding a lender approved lawyer for your home move in Denbigh
I am looking at a two apartments in Denbigh which have in the region of forty five years unexpired on the lease term. should I be concerned?
There is no doubt about it. A leasehold apartment in Denbigh is a wasting asset as a result of the shortening lease. The nearer the lease gets to its expiry date, the more it adversely affects the salability of the premises. The majority of purchasers and mortgage companies, leases with less than eighty years become less and less attractive. On a more upbeat note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of premises with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Denbigh conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending the lease. They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that any new terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.
I purchased a basement flat in Denbigh, conveyancing having been completed 4 years ago. 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? Similar flats in Denbigh with over 90 years remaining are worth £255,000. The ground rent is £45 charged once a year. The lease terminates on 21st October 2098
With only 73 years remaining on your lease we estimate the premium for your lease extension to span between £8,600 and £9,800 as well as professional fees.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of detailed due diligence. Do not use the figures in tribunal or court proceedings. There are no doubt other concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Please do not take any other action based on this information without first getting professional advice.