At long last a loan offer from Nationwide for the refinancing of my 2 bedroom maisonette is to be issued by the end of next week. Can you suggest a cheap conveyancing solicitor in Petworth?
This site is not designed to aid those in their quest for the lowest fares for conveyancing solicitors in Petworth. We can offer you affordable conveyancing but we do not aim to advertise as being the cheapest. Resist the temptation to appoint companies offering £99 conveyancing in Petworth. Optimistically, in choosing a lawyer for low cost conveyancing, you will get your money’s worth and at worst you will end up invoiced for extras and still not receive the service expected.
Is there a reason why leasehold purchase conveyancing in Petworth costs more?
In summary, leasehold conveyancing in Petworth and elsewhere usually involve extra due diligence compared to freehold transactions. This includes reviewing the lease, communicating with the landlord concerning the service of applicable notices, obtaining current service charge and management information, securing the landlord’s consents and reviewing management accounts. The obligations on both the landlord and the tenant in the lease need to be studied by the buyer’s conveyancing team and read from beginning to end – regardless of the fact the lease has passed through many different property solicitors hands since it was first entered into.
The deeds to our home can not be found. The solicitors who handled the conveyancing in Petworth 4 years ago have long since closed. What are my next steps?
Gone are the days when you need to have the physical original deeds to evidence that you are the registered proprietor of land or property, given that the Land Registry have everything they need in a digital format.
I'm purchasing my first flat in Petworth with a mortgage from Bank of Scotland. The sellers refused to move on the price so I negotiated 6k of additionals instead. The house builders rep advised me not inform my lawyer about the side-deal as it may impact my loan with Bank of Scotland. 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.
Due to the advice of my in-laws I had a survey completed on a property in Petworth before appointing solicitors. I have been advised that there is a flying freehold overhang to the house. The surveyor advised that some lenders tend refuse to give a mortgage on a flying freehold property.
It varies from the lender to lender. Bank of Scotland has different instructions from Halifax. Should you wish to telephone us we can look into this further via the relevant lender. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Petworth. Conveyancing may be slightly more expensive based on your lender's requirements.
I've recently bought a leasehold flat in Petworth. Do I have any liability for 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. However, 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 ensure 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 inherited a basement flat in Petworth, conveyancing having been completed half a dozen years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Similar flats in Petworth with a long lease are worth £165,000. The ground rent is £50 invoiced annually. The lease ends on 21st October 2104
With just 78 years unexpired the likely cost is going to span between £7,600 and £8,800 as well as plus your own and the landlord's "reasonable" professional fees.
The figure above a general guide to costs for renewing a lease, but we are not able to supply a more accurate figure in the absence of detailed investigations. You should not use the figures in a Notice of Claim or as an informal offer. There may be other issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. You should not move forward based on this information without first getting professional advice.