Our family solicitor has quoted £1350 for leasehold conveyancing in Llanmartin. I’m looking to sell a purpose built property for £275,000. Are these conveyancing fees excessive? Is it above what I should be paying for conveyancing in Llanmartin?
The charges are a tad high. If you shop around you could decrease the fees marginally by perhaps £125. On the other hand, you mightcome to regret opting for an an untested solicitor. Remember to enquire the conveyancer can also act for your lender. Do employ our comparison tool to select a Llanmartin conveyancing company on the banks member panel which can often include conveyancing solicitors in Llanmartin.
We are selling our home in Llanmartin and according to the buyers it appears that there is a risk of it being built on contaminated land. A high street Llanmartin lawyer would know this is not the case. It does beg the question why the buyers instructed a nationwide conveyancing firm as opposed to a conveyancing solicitor in Llanmartin. We have lived in Llanmartin for 5 years we know of no issue. Is it a good idea to get in touch with our local Authority to get confirmation that the buyers are looking for.
It would appear that you have a conveyancing solicitor currently acting for you. What do they say? You need to enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same illness)
I am buying a new build house in Llanmartin with the aid of help to buy. The developers refused to move on the price so I negotiated 6k of extras instead. The property agent advised me not to tell my solicitor about the side-deal as it would adversely affect my mortgage with National Westminster Bank. Is this normal?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
Due to the advice of my in-laws I had a survey completed on a property in Llanmartin ahead of appointing solicitors. I have been told that there is a flying freehold overhang to the property. My surveyor advised that some lenders will not issue a loan on a flying freehold house.
It varies from the lender to lender. Lloyds has different requirements for example to Nationwide. Should you wish to call us we can look into this further with the appropriate mortgage company. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Llanmartin. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Llanmartin to see if the conveyancing costs will increase in light of this.
I am 18 days into a leasehold purchase having been referred to solicitors by the estate agent to do our conveyancing in Llanmartin. I am am extremely dissatisfied with the level of service. Can you you assist me in finding new solicitors?
A conveyancer would have to be very poor in order to consider diss instructing them. Has your mortgage been sent? In the event that it has you must advise them of the new contact details and ensure the mortgage documents are issued to the new lawyers. The solicitor ideally should be on the lenders approved list to avoid added expenses and frustration. So that should be your starting point. The find a solicitor tool will help you find a lender approved lawyer for your home move in Llanmartin
I am a negotiator for a long established estate agency in Llanmartin where we see a number of leasehold sales derailed due to leases having less than 80 years remaining. I have been given contradictory information from local Llanmartin conveyancing solicitors. Can you confirm whether the owner of a flat can start the lease extension formalities for the purchaser on completion of the sale?
As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to commence 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 needs to be completed before, or at the same time as completion of the sale.
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 purchaser.
I bought a leasehold flat in Llanmartin, conveyancing having been completed 3 years ago. How much will my lease extension cost? Equivalent properties in Llanmartin with a long lease are worth £192,000. The average or mid-range amount of ground rent is £55 levied per year. The lease runs out on 21st October 2080
With just 54 years unexpired we estimate the premium for your lease extension to span between £32,300 and £37,400 plus legals.
The suggested premium range above a general guide to costs for extending a lease, but we are not able to provide the actual costs without more comprehensive due diligence. Do not use this information in a Notice of Claim or as an informal offer. There may be other issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. Please do not take any other action based on this information before seeking the advice of a professional.