Having been suggested to visit your service we were about to go ahead with a conveyancing solicitor in Erith found on your site but have come across alternative estimates on the internet appear less pricey – why is this?
You can find numerous solicitors promoting pretending to offer cut-price conveyancing, yet more often than not additionalcosts end up with the final bill markedly uplifted. According to the Legal Ombudsman costs contained in terms of business should be equitable raised The conveyancers that we list for conveyancing in Erith specify all costs for a standard conveyancing matter.
We are about to complete buying a house in Erith but as a consequence of damage from the recent storms I have managed to agree recompense from the current proprietors in the sum of £2k in the form of a deduction in the price. I had intended this to be dealt with as part of the conveyancing process yet Nottingham are not allowing this. Why were they informed?
Your conveyancing practitioner being on a Nottingham conveyancing panel is obliged to inform Nottingham of any amendments to the purchase price. If you were to refuse your property lawyer to disclose the reduction to Nottingham then they would have to discontinue acting for you. In addition, Nottingham and you would have to appoint a new conveyancer for your conveyancing in Erith.
Can you explain why leasehold purchase conveyancing in Erith costs more?
The conveyancing charges on a leasehold property in Erith is inevitably more expensive when contrasted to a freehold transaction. This is due to the supplemental time required in dealing with the landlord and management company to collate the evidence about whether the rent and service fee have been cleared and whether there are any large sums expected to be spent in the near future on repairs or maintenance of the block.
When it comes to mortgage companies such as Yorkshire BS, do Erith conveyancing practitioners have to pay a yearly amount to be on the conveyancing panel?
We are unaware of any lender fees to be on their list of approved firms, although some do levy an administration fee to deal with the processing of the conveyancing panel application.
is it true that all Erith solicitor firms on the HSBC conveyancing panel are regulated by the SRA?
As a firm of solicitors, in order to be on the HSBC conveyancing panel they would need to be regulated by the Solicitors Regulatory Authority. Some mortgage companies do list licenced conveyancers on their panel and in such a situation the organisation would be overseen by the Council of Licensed Conveyancers.
My offer was accepted on a house in Erith on 4/10/2023, valuation was booked five days after, received a clean bill of health. Property lawyer appointed, so all that was missing was my mortgage offer. Having made daily calls to Bank of Ireland and chasing them on my offer, I have now been told that my offer will not be issued unless the lawyer is on the Bank of Ireland conveyancing panel. Can the lender hold off the offer?
Mortgage companies tend not to not issue an offer until they have details of a lawyer on their panel. It can take a few weeks for Bank of Ireland to deal with your lawyer's application to be on the Bank of Ireland conveyancing panel. There's no guarantee that your solicitor will be accepted.
Over the last few months I have been searching for a flat up to £235,500 and identified one near me in Erith I like with amenity areas and railway links in the vicinity, however it only has 61 years unexpired on the lease. I can't really find anything else in Erith suitable, so just wondered if I would be making a mistake buying a short lease?
Should you require a home loan the shortness of the lease may be problematic. Discount the offer by the expected lease extension will cost if not already taken into account. If the existing proprietor has owned the property for a minimum of twenty four months you could request that they start the process of the extension and then assign it to you. An additional ninety years can be extended on to the existing lease term with a zero ground rent applied. You should consult your conveyancing solicitor about this.
I've recently bought a leasehold property in Erith. Am I liable to pay service charges relating to a period prior to my ownership?
In a situation where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I have tried to negotiate informally with with my landlord for a lease extension without success. Can the Leasehold Valuation Tribunal decide on such matters? Can you recommend a Erith conveyancing firm to help?
You certainly can. We can put you in touch with a Erith conveyancing firm who can help.
An example of a Lease Extension case for a Erith residence is Various @ Colombus Square in January 2012. the Tribunal calculated the premiums to be paid for new leases for each of the flats in Mariners Walk to be £3822 and the premium to be paid for the new lease of 2 Knights Court to be £4439. This case affected 13 flats. The unexpired term was 76 years.