I have Fifty Six years unexpired on my lease and need a lease extension for my apartment in Lakenham. Conveyancing solicitors on the Accord Mortgages panel can deal with such extensions correct?
Most leasehold conveyancing experts should be able to deal with a lease extension. if you are securing a mortgage then your lender may insist that the lease be extended before competition. Accord Mortgages have specific requirements as set out in the UK Finance Lenders’ Handbook in relation to minimum unexpired lease terms. As of 26/5/2023 the requirements read as follows :
My wife and I are buying a flat in Lakenham. I might seem paranoid but how we can trust a conveyancer? On the day of competition we will need to put our life savings into their account. What is the protection we have from them run away with our monies?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
How can we tell if a Lakenham conveyancing solicitor on the Kent Reliance panel is any good?
When it comes to conveyancing in Lakenham obtaining recommendations is a sensible starting point. 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 advise that you speak with the lawyer conducting your conveyancing.
After what seems like an age I have had an offer on a maisonette in Lakenham agreed to, the owners do nevertheless have a connected purchase. The owners have placed an offer on somewhere, but it’s not yet tied up, and have viewings of other apartments booked. I have instructed a nearby conveyancing solicitor in Lakenham. What do I do now? At what point do I apply for the mortgage with HSBC?
It is usual to have anxieties where there is a chain as you are unlikely to want to be too out of pocket too early (mortgage application is approx one thousand pounds, then survey, Lakenham conveyancing search charges, etc). First, you must ensure that your solicitor is on the HSBC approved list. Regarding the subsequent phase this very much depends on the circumstances of your transaction, desire for this property and on the state of the market. During a rising market some purchasers will apply for a home loan with HSBC and arrange for the valuation and only if it was satisfactory would they request their property lawyer to move forward with searches.
I used Arc property Solicitors a few years ago for my conveyancing in Lakenham. I now require my file but the law firm has closed. What do I do?
Do call the Solicitors Regulatory Authority (SRA) to assist in tracking down your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Lakenham of the conveyancing firm of solicitors you previously instructed, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
We're novice buyers - agreed a price, yet the agent told us that the seller will only issue a contract if we instruct the agent's chosen lawyers as they want an ‘expedited deal’. We would rather use a high street conveyancer used to conveyancing in Lakenham
It is unlikely the vendors are driving this. Should the owner desire ‘a quick sale', alienating a genuine purchaser is likely to cause more damage than good. Avoid the agents and go straight to the sellers and make the point that (a)you are motivated purchasers (b)you are excited to move forward, with finances in place © you are chain free (d) you wish to move quickly (e)however you will continue to instruct your preferred Lakenham conveyancing firm - rather thanthose that will give the estate agent a kickback or hit his conveyancing thresholds demanded by corporate headquarters.
All being well we will complete our sale of a £125,000 maisonette in Lakenham in seven days. The landlords agents has quoted £396 for Certificate of Compliance, building insurance schedule and previous years service charge statements. Is it legal for a freeholder to charge such fees for a flat conveyance in Lakenham?
Lakenham conveyancing on leasehold flats often necessitates the purchaser’s solicitor sending enquiries for the landlord to address. Although the landlord is under no legal obligation to answer these enquiries most will be content to assist. They are entitled to levy a reasonable administration fee for answering enquiries or supplying documentation. There is no upper cap for such fees. The average costs for the paperwork that you are referring to is over three hundred pounds, in some transactions it is in excess of £800. The management information fee invoiced by the landlord must be accompanied by a synopsis of entitlements and obligations in relation to administration charges, otherwise the invoice is not strictly payable. In reality you have little option but to pay whatever is demanded should you wish to sell the property.
I inherited a 1 bedroom flat in Lakenham, conveyancing was carried out half a dozen years ago. Can you let me have an estimated range of the fair premium for a lease extension? Similar flats in Lakenham with over 90 years remaining are worth £265,000. The average or mid-range amount of ground rent is £50 per annum. The lease expires on 21st October 2098
With just 75 years unexpired we estimate the price of your lease extension to span between £8,600 and £9,800 as well as 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 extending a lease, but we are not able to supply a more accurate figure in the absence of detailed due diligence. You should not use this information 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 move forward placing reliance on this information before getting professional advice.
I am considering choosing a web based lawyer ahead of a Lakenham conveyancing practice. Any advice?
There are advantages of being able to pop in to a local Lakenham conveyancing solicitor for instance
- signing papers on short notice
- having one on one explanations of things you don't understand
- the ability to complain if things are not going as expected
When analysing estimates, look carefully for hidden extras. The majority decent Lakenham high street solicitors give an all-inclusive price. Many online companies seem to offer discounted prices, yet have hidden 'extras' in the fine print.