The conveyancer who assisted with my last purchase has given a fee calculation of £1200 for leasehold conveyancing in Great Linford. I’m looking to sell a Victorian property for £300,000. This appears overpriced. Is it above what I should be paying for conveyancing in Great Linford?
The charges are a little high. If you shop around you could shave off some of the expense by perhaps £100 plus VAT. That being said, you maylive to rue opting for an a cheaper conveyancer. Remember to be sure the firm can also act for your lender. You can utilise our search tool to get a quote a Great Linford conveyancing firm on the banks approved list of lawyers which can often include conveyancing solicitors in Great Linford.
My wife and I are refinancing our flat in Great Linford with Leeds Building Society. We have a son approaching twenty who lives with us. Our solicitor requested us to identify anyone over the age of 17 other than ourselves who reside at the property. Our lawyer has now e-mailed a document for our son to sign, giving up any rights in the event that the flat is forfeited by the lender. I have a couple of questions (1) Is this document specific to the Leeds Building Society conveyancing panel as he did not need to sign this form when we purchased 4 years ago (2) Does our son by signing this compromise his rights to inherit the property?
On the face of it your lawyer has done nothing wrong as it is established procedure for any occupier who is aged 17 or over to sign the necessary Consent Form, which is purely to state that any rights he has in the property are postponed and secondary to Leeds Building Society. This is solely used to protect Leeds Building Society if the property were re-possessed so that in such circumstances, your son would be legally obliged to leave. It does not impact your son’s right to inherit the apartment. Please note that if your son were to inherit and the mortgage in favour of Leeds Building Society had not been discharged, he would be liable to take over the loan or pay it off, but other than that, there is nothing stopping him from keeping the property in accordance with your will or the rules of intestacy.
We are aiming to move property in February. Will my conveyancing solicitor liaise with the removal company on the completion day. On a separate note, can you recommend a removal company in Great Linford. Conveyancing lawyer was organised before I stumbled across your website.
On the day of completion you can collect the keys from the property agent but this can only take place after the vendors lawyers inform the agent that they have the completion monies and the keys can be collected. Subsequently you will need to advise the removal company that they can start moving you in. We do not recommend a specific removal organisation but can help you choose a residential property solicitor in Great Linford or a lawyer with expertise in conveyancing in Great Linford.
Are all Great Linford Conveyancing Quality Solicitors on the Coventry BS conveyancing panel?
Some major lenders now make use of the accreditation scheme as the kick off point for Panel approval such as HSBC and Santander. The Law Society’s CQS membership however is no guarantee to lender panel acceptance. Nevertheless,the CML have indicated that it is likely to become a pre-requisite for firms wishing to join their panels.
After weeks of negotiation I have agreed a price on an apartment in Great Linford. My financial adviser pressured me to appoint their conveyancing practitioner. I paid an advanced payment of £175. A couple of days later, the conveyancing practitioner called me embarrassingly acknowledging that they were not on the TSB conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the TSB panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
I purchased my home on 9 October and my personal details are still not on the land registry website. Should I be concerned? My conveyancing solicitor in Great Linford expressed confidence that it will be concluded inside ten days. Are properties in Great Linford particularly slow to register?
There is nothing unique about conveyancing in Great Linford registration formalities. Rather than based on location, timescales can differ according to the party submitting the application, whether it is in order and whether the Land registry need to notify any 3rd persons or bodies. Currently approximately 80% of such applications are fully addressed in less than three weeks but occasionally there can be longer delays. Historically registration takes place once the new owner is living at the premises therefore registration formalities is not always primary concern but where it is urgent that the the registration takes place urgently then you or your solicitor could communicate with the Registry to express the reasoning for the application to be prioritised.
My business partner and I are hoping to lease a unit on the high street. Can you recommend solicitors offering no-move-no fees for commercial conveyancing in Great Linford for below 2k?
We are happy to recommend firms who have specialist knowledge of commercial conveyancing in Great Linford, including the sale and purchase of businesses as well as simply property. If you are looking to buy or lease a shop, pub, restaurant, office, retail premises or a whole business we can put you in touch with the right solicitor. As for the costs these will vary based on the structure and nuances of the proposed transaction. Let us have your details or email so as to enable us to provide you with a detailed commercial conveyancing quote.
I am attracted to a couple of flats in Great Linford which have approximately fifty years left on the leases. Do I need to be concerned?
There are no two ways about it. A leasehold flat in Great Linford is a deteriorating asset as a result of the reducing lease term. The closer the lease gets to its expiry date, the more it adversely affects the value of the property. The majority of purchasers and lenders, leases with under eighty years become less and less marketable. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of premises with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Great Linford conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending the lease. You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that the agreed terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.
I am the registered owner of a leasehold flat in Great Linford, conveyancing formalities finalised February 2001. Can you let me have an estimated range of the fair premium for a lease extension? Similar properties in Great Linford with a long lease are worth £265,000. The ground rent is £50 charged once a year. The lease finishes on 21st October 2100
With only 75 years left to run the likely cost is going to be between £8,600 and £9,800 plus costs.
The suggested premium range above a general guide to costs for renewing a lease, but we are not able to provide a more accurate figure without more comprehensive investigations. Do 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 you obviously want to be as accurate as possible in your negotiations. You should not take any other action based on this information before seeking the advice of a professional.