As someone not used to conveyancing in Newent what is your top tip you can give me concerning the legal transfer of property in Newent
Not many law firms shout this from the rooftops but conveyancing in Newent and elsewhere in Gloucestershire is often a confrontational experience. In other words, when it comes to conveyancing there exists lots of opportunity for conflict between you and other parties involved in the home moving process. E.g., the seller, property agent and even potentially the bank. Selecting a law firm for your conveyancing in Newent is a critical decision as your conveyancer is your adviser, and is the SOLE party in the process whose role it is to protect your legal interests and to protect you.
Sometimes a potential adversary may attempt to persuade you that you should follow their advice. For instance, the selling agent may claim to be helping by claiming that your solicitor is dragging his heels. Or your mortgage broker may try to convince you to do something that is contrary to your conveyancers guidance. You should always trust your lawyer above all other parties when it comes to the legal transfer of property.
Will my conveyancing lawyers need to check that the building insurance for my purchase of a house in Newent. My lender is Platform
Platform have specific requirements as set out in the UK Finance Lenders’ Handbook. As of 14/3/2023, the requirements read as follows :
I am assisting my niece sell her property in Newent. Does the conveyancer order an EPC or do I organise this?
After the abolition of HIPs, energy assessments was retained a required element of moving house. An EPC should be commissioned prior to the property being placed on the market. This is not as aspect of the sale process that law firms normally organise. If you are using a Newent conveyancing lawyer they might be able to arrange EPC’s due to their relationships with reputable Newent accredited person
A relative pointed out to me me that in purchasing a property in Newent there could be various restrictions limiting what one can do in terms of external alterations to the property. Is this right?
We are aware of a number of properties in Newent which have some sort of restriction or requirement of consent to external variations. Part of the conveyancing in Newent should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
Nottingham have agreed my mortgage in principle, my bid on a property in Newent has been accepted, now what?
Your property agent will want to know who your solicitors are (make sure the conveyancing practitioners are on the bank’s panel). Call up Nottingham or the financial adviser and finalise any appropriate paperwork. Nottingham will appoint a valuer who will get in contact with the selling agent or owners to arrange a slot for the valuation to occur. Once conducted (assuming no problems) it takes about a fortnight to receive the mortgage offer. Nottingham will issue the offer to you and your lawyers. The legal work will then take it’s course according the nature and complexity of the conveyancing in Newent.
I was advised by a number of estate agents in Newent to locate a property lawyer on your site. Is there a financial incentive for Estate Agents to offer your site over and above another?
We don’t give any commission for directing people our way. We thought it would be too underhand a fee because a client could think, ‘How come the agent getting a kickback? Why aren’t I getting any benefit too?’ So we decided to step away from that.
My brother has suggested that I use his conveyancing solicitors in Newent. Should I choose my own property lawyer?
Much as we are happy to recommend a Newent conveyancing lawyer it’s preferable to select a conveyancing solicitor is to seek referrals from friends or family who have experience in using the firm that you are are thinking of instructing.
Last September I purchased a leasehold property in Newent. Am I liable to pay service charges relating to a period prior to completion of my purchase?
Where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I own a 1 bedroom flat in Newent, conveyancing formalities finalised half a dozen years ago. Can you please calculate a probable premium for a statutory lease extension? Comparable flats in Newent with over 90 years remaining are worth £165,000. The average or mid-range amount of ground rent is £50 levied per year. The lease finishes on 21st October 2100
With only 77 years left to run we estimate the price of your lease extension to range between £7,600 and £8,800 plus legals.
The figure that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more detailed investigations. Do not use this information in tribunal or court proceedings. There may be additional issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Neither should you take any other action based on this information before seeking the advice of a professional.