My previous solicitor has quoted £1400 for leasehold conveyancing in Fareham. I am hoping to sell a Victorian detached home for £225,000. Is this expensive? Is it in excess of what I should be paying for conveyancing in Fareham?
The quote is slightly on the expensive side. If you are happy to invest time contrasting quotes you may be able to trim some of the cost by as much as £100 plus VAT. On the other hand, you maylive to regret opting for an a cheaper solicitor. Don't forget to be sure the solicitor can represent your bank. Do make use of our comparison tool to find a Fareham conveyancing company on the banks member panel which can often include conveyancing solicitors in Fareham.
We are a couple about to sign contracts for a freehold house in Fareham. We encountered a problem. The loan offer with TSB expires on 18/7/2023 but the sellers are putting forward a completion date of 20/7/2023. Can one extend the loan expiry date?
The best person to deal with your issue is your solicitors who should assess if they better off negotiating with the lender, owner’s representatives, property agents or indeed all three taking into account the history of your transaction to date.
We just had an offer accepted to buy with Melton Mowbray Building Society. We have called around locally but am struggling to find a Fareham conveyancing firm on the Melton Mowbray Building Society panel. Please you help?
You should make use of the find a conveyancing panel solicitor tool on this site. Pick the lender and type Fareham or your preferred area and you will see a number of lawyer offices in Fareham or by proximity to you.
I own a renovated Georgian house in Fareham. Conveyancing solicitor acted for me and Birmingham Midshires. I did a free Land Registry search last week and there are a couple of entries: the first freehold, the second leasehold with the matching address. I thought I was buying a freehold how can I check?
You need to assess the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Fareham and other locations in the country and poses no real issues for owners other than when they sell they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also enquire as to the position with the conveyancing solicitor who completed the work.
Should I appoint a Fareham conveyancing practitioner in close proximity to the house I am hoping to buy? We have a good friend who can perform the conveyancing however his firm is located 200kilometers drive away.
The primary upside of using a local Fareham conveyancing firm is that you can attend the office to sign paperwork, hand in your identification documents and pester them if necessary. They will also have local insight which is a bonus. However it's more important to get someone that will do a good and efficient job. If if people you trust instructed your friend and on the whole were happy that should trump using an unfamiliar Fareham conveyancing lawyer just because they are Fareham based.
Are there common defects that you encounter in leases for Fareham properties?
There is nothing unique about leasehold conveyancing in Fareham. All leases are drafted differently and drafting errors can result in certain provisions are wrong. For example, if your lease is missing any of the following, it could be defective:
A provision for the recovery of money spent for the benefit of another party.
You will encounter difficulties when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Barclays , Chelsea Building Society, and Alliance & Leicester all have very detailed requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is problematic they may refuse to grant the mortgage, forcing the buyer to withdraw.
I purchased a studio flat in Fareham, conveyancing was carried out in 2000. How much will my lease extension cost? Corresponding properties in Fareham with an extended lease are worth £265,000. The average or mid-range amount of ground rent is £50 invoiced annually. The lease terminates on 21st October 2099
With just 76 years remaining on your lease the likely cost is going to span between £8,600 and £9,800 plus plus your own and the landlord's "reasonable" professional fees.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we are not able to supply a more accurate figure in the absence of comprehensive due diligence. Do not use this information in tribunal or court proceedings. There are no doubt other concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information before seeking the advice of a professional.