Just contacted my conveyancing lawyer in Downham who conducted the legals two years ago and wanted a conveyancing quote based on an identical type of house sale & purchase (a leasehold residence and a freehold property) of almost identical values with a mortgage from HSBC Bank. It looks as though am now being quoted double. Stick with what I know or do I try and find an alternative conveyancer?
The costs illustration is fractionally on the high side. Where you are prepared to invest time contrasting quotes you could get the conveyancing a bit cheaper by as much as £100 plus VAT. That being said, providing that you were satisfied with the legal work the firm provided you mightlive to rue opting for an an untested conveyancer. Remember to enquire that the conveyancer can represent HSBC Bank. Do make use of our search tool to find a Downham conveyancing firm on the HSBC Bank member panel, which can often include conveyancing solicitors in Downham.
My partner and I are purchasing our first property. The solicitor has texted usto enquire if we wish to take out additional conveyancing searches. We are really unsure what's necessary for conveyancing in Downham
The number and type of Downham conveyancing searches should be dictated entirely on the premises, the location, the possibility of any of these risks, your familiarity of the area and risks, your general attitude to risk. What matters is that you adequately appreciate what information the searches could provide. You may then decide if you personally think you need that search. Should you be uncertain, ask your conveyancer to advise.
When it comes to lenders such as RBS, do Downham conveyancing practitioners incur an annual charge to be on the conveyancing panel?
We are not aware of any lender fees to be on their list of approved firms, although some do charge an administration fee to deal with the processing of the conveyancing panel application.
Two weeks ago we had a mortgage agreed in principle with Bank of Ireland. Downham conveyancing practitioners were appointed. How long does it take for Bank of Ireland to issue the offer to the lawyer?
Some lenders take longer than others. Have Bank of Ireland conducted the survey? Have you informed Bank of Ireland as to your lawyers' details and checked that your lawyers are on the Bank of Ireland conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
The formalities of my remortgage has taken place for my property in Downham. Conveyancing was a necessary evil but I feel I should register my dissatisfaction about the lender. How does one go about formally complaining?
Most banks and building societies have complaints procedures. Your first point of contact should be one of the lender’s branches or the Customer Services Department at head office. Ordinarily complaints to a lender are sorted out very quickly. However if you are not satisfied that the matter is not resolved you can write to Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London E14 9SR who will take matters further.
I am looking for a ground for flat up to £245,000 and found one round the corner in Downham I like with amenity areas and transport links nearby, the downside is that it only has 52 years on the lease. There is not much else in Downham suitable, so just wondered if I would be making a mistake acquiring a short lease?
Should you require a mortgage the shortness of the lease may be a potential deal breaker. Reduce the price by the expected lease extension will cost if it has not already been discounted. If the existing owner has owned the property for at least twenty four months you may request that they commence the lease extension formalities 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 speak to your conveyancing lawyer concerning this matter.
I am looking at a two maisonettes in Downham both have approximately fifty years unexpired on the lease term. Should I regard a short lease as a deal breaker?
There are plenty of short leases in Downham. The lease is a legal document that entitles you to use the premises for a prescribed time frame. As the lease gets shorter the saleability of the lease deteriorates and it becomes more costly to acquire a lease extension. This is why it is often a good idea to increase the term of the lease. Sometimes it is difficulties arise selling premises with a short lease because mortgage lenders may be unwilling to lend money on such properties. Lease enfranchisement can be a protracted process. We recommend you get professional assistance from a solicitor and surveyor with experience in this arena.
After months of negotiations we cannot agree with our landlord on how much the lease extension should cost for our flat in Downham. Can we issue an application to the Residential Property Tribunal Service?
Where there is a missing landlord or if there is disagreement about the premium for a lease extension, under the relevant statutes you can apply to the LVT to judgment on the premium.
An example of a Freehold Enfranchisement decision for a Downham premises is Ravensbourne Lodge 4 Highland Road in February 2013. the Tribunal held that the amount payable for the freehold was £22,268
What is the distinction between surveying and conveyancing in Downham?
Conveyancing - in Downham or anywhere in England and Wales - is the legal term given to transferring legal title of property from one person to another. It involves the investigation of the title. Whether buying or selling, you should be aware of anything affecting the property such as proposals by government departments, illegal buildings, or outstanding rates. The conveyancer should conduct the appropriate searches and inquiries on the property. Surveying relates to the structure of a property itself. A surveyor will look at a house, flat and any outbuildings you are purchasing and will help you discover the condition of the building and, if there are problems, give you a powerful reason for reducing the price down or asking the seller to fix the problems prior to you move in.