My family solicitor has sent a quote for £995 for fixed fee conveyancing in Eynsham. I’m hoping to sell a modern property for £225,000. This sounds overpriced. Is it above what I should be paying for conveyancing in Eynsham?
The charges are a tad high. If you are willing to expend time scrutinising fee on a like for like basis you may be able to trim some of the expense by as much as a hundred pounds. On the other hand, you couldlive to regret choosing an an unknown conveyancer. If is important to be sure that the conveyancer can also act for your mortgage company. You can make use of our comparison tool to choose a Eynsham conveyancing firm on the lender’s member panel which can often include conveyancing solicitors in Eynsham.
What does my ID and proof of funds have anything to do with my conveyancing in Eynsham? What am I being asked for?
Eynsham conveyancing solicitors as well as nationwide property lawyers accross the UK have an obligation under Anti-terror and anti-money-laundering rules to check the ID of any client in order to ensure that clients are who they say they are.
Conveyancing clients are required to disclose two forms of certified ID; proof of identity (usually a Passport or Driving Licence) and proof of address (typically a Utility Bill no older than three months).
Confirmation of source of monies is also necessary under the money laundering laws as lawyers are duty bound to ensure that the funds you are utilising to acquire a property (whether it be the deposit for exchange or the full purchase amount if you are buying without a mortgage) has originated from a reputable source (such as employment savings) as opposed to the proceeds of criminal behaviour.
A relative suggested that where I am purchasing in Eynsham I should ask my conveyancer to carry out a Neighbourhood, Planning and Local Amenity Search. What does it cover?
A search of this type is occasionally included in the estimate for your Eynsham conveyancing searches. It is a large document of about 40 pages, listing and setting out important information about Eynsham around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average Property Price, Crime statistics, Local Education with maps and statistics, Local Amenities and other useful information concerning Eynsham.
I decided to have a survey carried out on a house in Eynsham before appointing conveyancers. I have been advised that there is a flying freehold overhang to the house. My surveyor advised that some lenders may not issue a mortgage on such a property.
It depends who your proposed lender is. Lloyds has different instructions from Birmingham Midshires. If you contact us we can check via the relevant bank. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Eynsham. Conveyancing will be smoother if you use a solicitor in Eynsham especially if they are familiar with such properties in Eynsham.
How can the Landlord & Tenant Act 1954 impact my business property in Eynsham and how can your lawyers assist?
The particular law that you refer to gives security of tenure to business tenants, giving them the right to make a request to court for a continuation of occupancy at the end of an expired lease. There are limited grounds that a landlord can refuse a lease renewal and the rules are involved. Fees are different for commercial conveyancing. Eynsham is one of the many locations in which the firms we work with have offices
Do you have any top tips for leasehold conveyancing in Eynsham from the point of view of expediting the sale process?
- Much of the frustration in leasehold conveyancing in Eynsham can be bypassed if you instruct lawyers as soon as you market your property and ask them to put together the leasehold information which will be required by the purchasers’ conveyancers. You may think that you are aware of the number of years left on your lease but it would be advisable double-check via your solicitors. A buyer’s conveyancer will not be happy to advise their client to proceed with the purchase of a leasehold property the remaining number of years is under 80 years. It is therefore important at an as soon as possible that you consider 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 Management Company, you should ensure that you are holding the original share certificate. Arranging a re-issued share certificate can be a lengthy formality and delays many a Eynsham conveyancing deal. Where a duplicate share certificate is needed, do contact the company officers or managing agents (if relevant) for this as soon as possible. If you have had conflict with your landlord or managing agents it is very important that these are resolved prior to the flat being marketed. The purchasers and their solicitors will be reluctant to purchase a flat where a dispute is unsettled. You will have to accept that you will have to pay any arrears of service charge or resolve the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You will still have to reveal details of the dispute to the purchasers, but it is better to present the dispute as historic rather than ongoing.
I purchased a 1st floor flat in Eynsham, conveyancing having been completed half a dozen years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Similar properties in Eynsham with a long lease are worth £191,000. The ground rent is £55 per annum. The lease finishes on 21st October 2079
With only 54 years unexpired we estimate the price of your lease extension to span between £31,400 and £36,200 plus costs.
The figure above a general guide to costs for renewing a lease, but we are not able to advice on the actual costs without more comprehensive due diligence. You should not use this information in tribunal or court proceedings. There may be other issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Neither should you move forward based on this information before getting professional advice.