In the event thatI was to purchase a straightforward propertyin Newark for cash and have no survey and no conveyancing searches how much should I expect to to save on my conveyancing in Newark?
The only saving you would achieve is the costs for searches. Your lawyer is required to do the vast majority of work - money laundering, liaising with your sellers solicitor, stamp duty submission, register the property etc. A slight saving might be made by not needing to register a mortgage however it won't be a lot.
Having invested time researching consumer advice sites for an online solicitor in Newark, many say that I should use a CQS kitemarked solicitor. Can you explain what CQS is?
The Law Society's Conveyancing Quality Scheme is the recognised quality mark for legal experts in buying or selling property, trusted by some of the UK's biggest banks. Four years ago the Conveyancing Quality Scheme was officially recognised by the Association of British Insurers (ABI). CQS is not a scheme offered by the Society for Licensed Conveyancers. Newark is one of the many areas of the UK where there are CQS solicitors.
I'm purchasing my first flat in Newark with a mortgage from National Westminster Bank. The sellers refused to move on the amount so I negotiated five thousand pounds worth of fixtures and fittings instead. The sale representative advised me not inform my solicitor about this deal as it could affect my loan with the 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.
I am thinking of appointing a conveyancing lawyer in Newark for my home move. Is it possible to review a solicitor's record with the profession’s regulator?
Anyone may see documented Solicitor Regulator Association (SRA) determinations arising from investigations from 2008 onwards. Visit Check a solicitor's record. For information about the period before 1 January 2008, or to check a solicitors history, phone 0870 606 2555, 08.00 - 18.00 any week day save for Tuesday when lines open at 9.30am. International callers, dial +44 (0)121 329 6800. The SRA may recorded telephone calls for training requirements.
Back In 2000, I bought a leasehold flat in Newark. Conveyancing and TSB mortgage went though with no issue. I have received a letter from someone claiming to own the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1996. The conveyancing solicitor in Newark who previously acted has long since retired. What should I do?
First make enquiries of the Land Registry to be sure that the individual claiming to own the freehold is in fact the new freeholder. It is not necessary to instruct a Newark conveyancing solicitor to do this as you can do this on the Land Registry website for a few pound. You should note that in any event, even if this is the legitimate landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I purchased a studio flat in Newark, conveyancing having been completed half a dozen years ago. Can you give me give me an indication of the likely cost of a lease extension? Comparable properties in Newark with over 90 years remaining are worth £227,000. The ground rent is £50 levied per year. The lease finishes on 21st October 2097
With 72 years left to run we estimate the price of your lease extension to span between £9,500 and £11,000 as well as plus your own and the landlord's "reasonable" professional fees.
The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more detailed due diligence. Do not use the figures in tribunal or court proceedings. There are no doubt other issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information before seeking the advice of a professional.
My dad purchased his flat in Newark 7 years ago. He has got wed, widowed and has recently remarried. He will be marketing the property in a few months. I think he will simply be requested to supply copies of his marriage certificates to the conveyancer but he is worried it could frustrate the sale of the flat. Is it worth updating the land title information for the property?
You are not required to update the register as long as you have the evidence required to demonstrate how the name change occurred.
Any purchaser’s property lawyer should check the land registry details and requisition evidence to prove the name change e.g. marriage certificates.