We previously instructed conveyancing lawyers based in Hurworth on the Coventry BS solicitor approved list. They are now charging me an additional amount for dealing with the Coventry BS mortgage. Is this an additional conveyancing fee set by Coventry BS?
Provided it is contained in their Terms and Conditions or Quote then yes your conveyancing practitioner may charge a fee for this. The fee is not set by Coventry BS but by your Hurworth lawyer. Numerous firms on the Coventry BS panel will quote ’dealing with mortgage’ fee but some practices incorporate it on their overall fee.
How can we know in advance if a Hurworth conveyancing solicitor on the TSB panel is any good?
When it comes to conveyancing in Hurworth seeking recommendations is a sensible start. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one advertising the lowest fees. We would always advocate that you speak with the lawyer carrying out your transaction.
I have today made my last payment due on my mortgage with HSBC. I assume I don't need a Hurworth conveyancing practitioner on the HSBC panel to remove the mortgage at the Land Registry. Am I right?
If you have finished paying off your HSBC mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the HSBC mortgage from the register. HSBC, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where HSBC has sent the Land Registry the discharge electronically, and
- HSBC has instructed the Land Registry to do so
I have been on the look out for a flat up to £245,000 and identified one close by in Hurworth I like with open areas and transport links in the vicinity, however it's only got 52 remaining years left on the lease. I can't really find anything else in Hurworth for this price, so just wondered if I would be making a grave error acquiring a lease with such few years left?
Should you need a mortgage that many years will likely be problematic. Discount the price by the expected lease extension will cost if it has not already been discounted. If the current owner has owned the property for at least twenty four months you could request that they commence the lease extension formalities and pass it to you. You can add 90 years to the current lease and have £0 ground rent by law. You should speak to your conveyancing solicitor about this matter.
What does commercial conveyancing in Hurworth cover?
Hurworth conveyancing for business premises covers a broad array of services, offered by regulated solicitors, relating to business property. By way of example, this area of conveyancing can cover the sale or purchase of freehold business premises or, more usually, the assignment of existing business tenancies or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial mortgages and the termination of leases.
In sourcing the web for the phrase conveyancing in Hurworth it shows results of numerous conveyancersin the area. How do I determine which is the right solicitor for my move?
The preferential method of finding a suitable conveyancer is through a personal referral, so enquire of friends and those you trust who have acquired a property in Hurworth or a local estate agent or financial adviser. Fees for conveyancing in Hurworth vary, so it's sensible to request a minimum of four costs illustrations from varying types of companies. Dont forget to clarify what costs in the quote includes.
I work for a long established estate agent office in Hurworth where we see a few flat sales put at risk due to leases having less than 80 years remaining. I have been given inconsistent advice from local Hurworth conveyancing firms. Please can you clarify whether the seller of a flat can initiate the lease extension formalities for the buyer?
Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer need not have to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or at the same time as completion of the disposal of the property.
An alternative approach is to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.
I am the registered owner of a leasehold flat in Hurworth, conveyancing formalities finalised 6 years ago. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Similar flats in Hurworth with over 90 years remaining are worth £201,000. The average or mid-range amount of ground rent is £45 charged once a year. The lease terminates on 21st October 2089
With just 64 years left to run we estimate the price of your lease extension to span between £14,300 and £16,400 as well as legals.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs without more detailed investigations. Do not use this information in a Notice of Claim or as an informal offer. There may be additional issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Please do not take any other action based on this information without first getting professional advice.
I have recently placed an offer on an apartment in Hurworth and the mortgage adviser that we are using suggested his lawyer. They quoted £800 excluding VAT and disbursements. Does this sound steep?
Don't just go on one quote. You should seek like-for-like quotes for your conveyancing in Hurworth. Then choose one that you are comfortable with and crucially, is on the approved list of the lender that you are sourcing your mortgage from.