My previous conveyancer has quoted £1700 for no sale no fee conveyancing in Endon. I’m hoping to downsize from a Victorian detached home for £150,000. This sounds over the top. Is it above what I should be paying for conveyancing in Endon?
The charges are a bit high. Where you are prepared to spend time scrutinising costs you might shave off some of the cost by perhaps £100 plus VAT. That being said, you maycome to regret opting for an a cheaper solicitor. Don't forget to be sure that the conveyancer can also act for your bank. You can make use of our search tool to select a Endon conveyancing practice on the banks member panel which can often include conveyancing solicitors in Endon.
Why is leasehold purchase conveyancing in Endon costs more?
In summary, leasehold conveyancing in Endon and Staffordshire usually warrants additional due diligence compared to freehold conveyancing. This includes checking the lease terms, corresponding with the landlord about serving required notices, securing up-to-date service charge and management information, securing the freeholder’s consents and reviewing management accounts. The obligations on both the landlord and the tenant in the lease need to be studied by the buyer’s conveyancing team and read from beginning to end – no matter how many different leaseholders have owned the lease since it was first entered into.
We're in Endon, First time buyers purchasing with a mortgage (lender is Nationwide , and our solicitor is on the Nationwide conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Nationwide conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no lawyer should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
It has been 4 months since my purchase conveyancing in Endon concluded. I have checked the Land Registry site which shows that I paid £175,000 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 asset 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 am purchasing my first flat in Endon with a loan from The Mortgage Works. The builders refused to reduce the amount so I negotiated £7000 of additionals instead. The sale representative advised me not to tell my solicitor about this deal as it will affect my loan with the bank. Is this normal?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I am on look out for some leasehold conveyancing in Endon. Before I get started I want to be sure as to the number of years remaining on the lease.
If the lease is recorded at the land registry - and most are in Endon - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
I am the registered owner of a 1st floor flat in Endon, conveyancing was carried out February 2008. Can you shed any light on how much the price could be for a 90 year extension to my lease? Similar properties in Endon with an extended lease are worth £192,000. The average or mid-range amount of ground rent is £55 charged once a year. The lease finishes on 21st October 2079
With just 54 years remaining on your lease the likely cost is going to be between £32,300 and £37,400 as well as plus your own and the landlord's "reasonable" professional fees.
The figure above 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 additional issues that need to be considered and clearly you should be as accurate as possible in your negotiations. You should not move forward placing reliance on this information before getting professional advice.