My fiance’s brother is a property lawyer. I expect that I will receive friends and family pricing for conveyancing, However if that does not come materialise, what level of costs should I be expecting for conveyancing in Nantwich?
It’s wise to seek two or three conveyancing quotes. Do use our search tool on this page. You will notice that prices seem to contrast greatly but the service one can expect differ between property lawyers as is true with the vast majority of professional services.
We're in Nantwich, FTBs purchasing with a mortgage (lender is Principality , and our lawyer is on the Principality conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Principality conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no property lawyer should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
I own a semi-detached Edwardian house in Nantwich. Conveyancing solicitor represented me and Nationwide Building Society. I happened to do a free search for it on the Land Registry database and I saw two entries: one for freehold, the second leasehold under the exact same property. I thought I was buying a freehold how can I check?
You should assess the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Nantwich and other locations in the country and poses no real issues for owners other than when they remortgage they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also question the position with the conveyancing practitioner who carried out the work.
I am purchasing my first flat in Nantwich with a loan from Halifax. The builders refused to reduce the amount so I negotiated five thousand pounds worth of additionals instead. The house builders rep suggested that I not inform my conveyancer about this side-deal as it could affect my loan with the lender. Should I keep quiet?.
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.
Over the last few months I have been searching for a ground for flat up to £195,000 and found one close by in Nantwich I like with open areas and transport links in the vicinity, the downside is that it's only got 61 years unexpired on the lease. I can't really find anything else in Nantwich for this price, so just wondered if I would be making a grave error buying a lease with such few years left?
Should you require a mortgage the shortness of the lease may be a potential deal breaker. Discount the price by the expected lease extension will cost if not already taken into account. If the current proprietor has owned the property for at least twenty four months you can request that they start the process of the extension and pass it to you. An additional ninety years can be extended on to the current lease term and have £0 ground rent by law. You should consult your conveyancing lawyer regarding this.
I have recently placed an offer on a leasehold flat in Nantwich and the broker that we are using suggested his conveyancer. They quoted £900 excluding VAT and disbursements. Does this sound reasonable?
You should not rely on a single estimate. You should seek like-for-like quotes for your conveyancing in Nantwich. Then choose one that you are comfortable with and crucially, is on the approved list of the mortgage company that you have applied for a mortgage from.