Just been in touch with my conveyancing lawyer in Peterborough who acted for me 18 months ago requesting a conveyancing estimate based on the same type of house sale & purchase (a leasehold residence and a freehold premises) of similar values with a home loan from Coventry Building Society. It looks as though am now being quoted double. Should I hunt for a cheaper online firm of conveyancing solicitor?
The estimate does seem a tad overpriced. Where you are prepared to spend time scrutinising prices you could get the conveyancing a bit cheaper by perhaps £125. That being said, providing that you were pleased with the service the firm provided you mightlive to regret choosing an a cheaper lawyer. Don't forget to enquire the solicitor can also act for Coventry Building Society. Do utilise our search tool to get a quote a Peterborough conveyancing firm on the Coventry Building Society member panel, which can often include conveyancing solicitors in Peterborough.
Do all mortgage companies provide you with an approved list of Peterborough conveyancing solicitors? How do you know who is on the Leeds Building Society conveyancing panel?
Peterborough conveyancing firms themselves provide us confirmation that they are on the Leeds Building Society conveyancing panel as opposed to being supplied with a list from Leeds Building Society directly.
Me and my brother own a 4 bedroom Edwardian house in Peterborough. Conveyancing lawyer represented me and Skipton Building Society. I happened to do a free search for it on the Land Registry database and there are two entries: one for freehold, another for leasehold with the matching address. I'd like to know for sure, how can I find out??
You should assess the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Peterborough and other areas of the country and poses no real issues for owners other than when they sell they have to account for both freehold and leasehold interests when dealing with buyers. You can also check the position with the conveyancing practitioner who conducted the purchase.
I'm remortgaging my existing house to a BTL loan with Leeds Building Society and intend to use the remaining equity as a deposit on a second property. The area we are looking at is Peterborough. Will your solicitors be able to act for the two lenders and tie in the conveyances?
Do use our comparison tool on this site to be sure that the lawyers are approved by both mortgage companies. Having checked that they are the lawyer will be able to tie up the two conveyancing matters but you should have a chat with you solicitor and make apparent your desired outcome and needs.
My husband and I are a fortnight into a leasehold purchase having been recommend to a firm by the selling agent to handle our conveyancing in Peterborough. I am am very disappointed with the level of service. Can you you assist me in finding new conveyancers?
A lawyer would have to be very poor in order to consider diss instructing them. Has your loan offer been generated? In the event that it has you will need to inform them of the replacement solicitor and get the mortgage documents are issued to the new lawyers. Your conveyancer should be on the banks approved list to avoid escalating fees and complications. So that should be your first question of the new conveyancers. The search tool should help you find a lender approved lawyer for your conveyancing in Peterborough
Are there frequently found deficiencies that you come across in leases for Peterborough properties?
There is nothing unique about leasehold conveyancing in Peterborough. All leases are unique and legal mistakes in the legal wording can result in certain clauses are missing. The following missing provisions could result in a defective lease:
Clauses dealing with recovering service charges for expenditure on the building or common parts.
You may encounter difficulties when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Accord Mortgages Ltd, Barnsley Building Society, and Godiva Mortgages Ltd all have express conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to provide security, obliging the purchaser to withdraw.
I invested in buying a 1st floor flat in Peterborough, conveyancing formalities finalised half a dozen years ago. Can you let me have an estimated range of the fair premium for a lease extension? Similar properties in Peterborough with an extended lease are worth £190,000. The ground rent is £45 invoiced every year. The lease runs out on 21st October 2083
You have 62 years remaining on your lease we estimate the price of your lease extension to range between £17,100 and £19,800 plus professional fees.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs without more comprehensive investigations. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. Neither should you move forward based on this information before getting professional advice.