We were about to choose a conveyancing solicitor in Pagham found by you but stumbled across alternative costs illustrations on the internet seem cheaper – how come?
One can find many firms of conveyancing organisations promoting supposedly cut-price conveyancing, unfortunately it’s common in such cases for extrafees end up with the closing bill totally different to the one you expected. Solicitors ought to ensure charges set out in terms and conditions should be equitable raised The conveyancers that we put forward for conveyancing in Pagham clearly state all charges for the property you intend topurchase.
My partner and I are getting closer to an exchange on a property in Pagham and my parents have sent the 10% deposit to my conveyancing practitioner. I am now advised that as the deposit has been sent from someone other than me my property lawyer needs to disclose this to my lender. I am advised that, in also acting for the mortgage company he must advise them that the balance of the purchase price is coming from anyone other than me. I advised the bank regarding my parents' contribution when I applied for the mortgage, so is it really appropriate for this now to hold matters up?
Your conveyancing practitioner is obliged to clarify with the bank to ensure that they are aware that the balance of the purchase price is not from your own resources. Your solicitor can only reveal this to your mortgage company if you agree, failing which, your lawyer must cease to continue acting.
My uncle passed away last year and as sole heir and executor I was left the property in Pagham. The house had a relatively small loan left on it of around £8000. I want to transfer the title deeds into my name whilst I re-mortgage to Yorkshire BS, pay off the mortgage. Is this possible?
If you intend to refinance then Yorkshire BS will require that you use a conveyancer on the Yorkshire BS conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Yorkshire BS conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Yorkshire BS mortgage is registered as a charge at the Land Registry.
Should commercial conveyancing searches disclose planned roadworks that may affect a commercial site in Pagham?
Many commercial conveyancing solicitors in Pagham will perform a SiteSolutions Highways report as it dramatically cuts the time that conveyancers expend in sourcing accurate data on highways that impact buildings and development assets in Pagham. The report sets out definitive data on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Pagham.
For each commercial conveyancing transaction in Pagham it is crucial to investigate the adoption status of roads surrounding a site. Failure to identify developments where adoption procedures have not been addressed adequately may result in delays to Pagham commercial conveyancing deals as well as present a risk to future plans for the site. These searches are not carried out for residential conveyancing in Pagham.
five months have elapsed since my purchase conveyancing in Pagham concluded. I have checked the Land Registry site which shows that I paid £175,000 when infact I paid £160,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the asset from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I am hoping to put an offer on a small detached house that seems to be perfect, at a great price which is making it more attractive. I have just discovered that the title is leasehold rather than freehold. I would have thought that there are issues purchasing a house with a leasehold title in Pagham. Conveyancing solicitors have not yet been instructed. Will my lawyers set out the risks of buying a leasehold house in Pagham ?
Most houses in Pagham are freehold and not leasehold. This is one of the situations where having a local solicitor who is familiar with the area who can help the conveyancing process. We note that you are buying in Pagham in which case you should be shopping around for a Pagham conveyancing practitioner and check that they have experience in transacting on leasehold houses. As a matter of priority you will need to check the unexpired lease term. Being a lessee you will not be at liberty to do whatever you want with the house. The lease comes with conditions such as requiring the freeholder’spermission to conduct alterations. You may also be required to pay a maintenance charge towards the upkeep of the communal areas where the house is located on an estate. Your solicitor should report to you on the legal implications.
I bought a ground floor flat in Pagham, conveyancing having been completed February 2005. Can you work out an approximate cost of a lease extension? Similar properties in Pagham with an extended lease are worth £216,000. The average or mid-range amount of ground rent is £50 levied per year. The lease expires on 21st October 2094
With just 69 years unexpired we estimate the premium for your lease extension to span between £9,500 and £11,000 as well as professional fees.
The figure above a general guide to costs for renewing a lease, but we are not able to supply the actual costs in the absence of detailed due diligence. You should not use this information in tribunal or court proceedings. There may be additional concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. Please do not move forward based on this information before seeking the advice of a professional.