I hired a local solicitor for our conveyancing in Hanham yesterday. Upon checking the terms of engagement I seewe are on the hook for fees even if our purchase doesn't happen. Should I go with them or choose a web based conveyancing company promoting no completion no cost conveyancing in Hanham?
Generally there is a concession along the lines that if "No Sale No Fee" is offered then the conveyancing charges will generally be uplifted to offset the transactions that do not proceed. Please beware that such promotions tend not to protect you from outlay e.g. Hanham conveyancing search costs.
Our bank has suggested a law firm on their panel based in Hanham but I would rather use a conveyancing lawyer in Hanham or nearer to where I live. Can you help?
The minority of Hanham conveyancing practices are on all lender’s conveyancing panel. Use our find an approved solicitor tool to find a Hanham conveyancing solicitor on the on the bank panel.
Various online forums that I have come across warn that are the number one cause of delay in Hanham conveyancing transactions. Is this right?
The Council of Property Search Organisations (CoPSO) published conclusions of a review by MoveWithUs that conveyancing searches do not figure amongst the top 10 causes of hindrances during the legal transfer of property. Local searches are unlikely to feature in any delay in conveyancing in Hanham.
Are there restrictive covenants that are commonly picked up as part of conveyancing in Hanham?
Restrictive covenants can be picked up when reviewing land registry title as part of the legal transfer of property in Hanham. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
Due to the advice of my in-laws I had a survey completed on a house in Hanham prior to retaining lawyers. I have been told that there is a flying freehold element to the house. The surveyor has said that some lenders tend refuse to give a loan on such a house.
It depends who your proposed lender is. HSBC has different requirements for example to Halifax. If you e-mail us we can check with the appropriate mortgage company. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Hanham. Conveyancing will be smoother if you use a solicitor in Hanham especially if they are acquainted with such properties in Hanham.
Can you provide any top tips for leasehold conveyancing in Hanham from the point of view of speeding up the sale process?
- A significant proportion of the frustration in leasehold conveyancing in Hanham can be bypassed where you appoint lawyers the minute your agents start marketing the property and request that they start to collate the leasehold information needed by the purchasers’ lawyers. In the event that you altered the property did you need the Landlord’s approval? In particular have you installed wooden flooring? Most leases in Hanham state that internal structural changes or addition of wooden flooring require a licence issued by the Landlord acquiescing to such changes. If you dont have the approvals in place do not contact the landlord without contacting your solicitor before hand. A minority of Hanham leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, you should place the estate agents on notice to make sure that the purchasers put in hand financial (bank) and professional references. Any bank reference will need to confirm that the buyers are able to meet the annual service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the actual amount of the service charge so that they can pass this information on to the buyers or their lawyers. Many landlords or Management Companies in Hanham levy fees for providing management packs for a leasehold property. You or your lawyers should discover the fee that they propose to charge. The management pack sought as soon as you have a buyer, thus accelerating the process. The average time it takes to receive management information is three weeks. It is the most usual reason for frustration in leasehold conveyancing in Hanham. If you are supposed to have a share in the freehold, you should ensure that you are holding the original share document. Organising a replacement share certificate can be a time consuming formality and delays many a Hanham home move. Where a new share is necessary, do contact the company officers or managing agents (where applicable) for this at the earliest opportunity.
I bought a 2 bed flat in Hanham, conveyancing formalities finalised half a dozen years ago. Can you please calculate a probable premium for a statutory lease extension? Similar flats in Hanham with an extended lease are worth £190,000. The ground rent is £45 invoiced annually. The lease terminates on 21st October 2085
With only 62 years left to run the likely cost is going to range between £17,100 and £19,800 as well as legals.
The figure above a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of detailed investigations. 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. Please do not move forward placing reliance on this information without first seeking the advice of a professional.