My fiance’s sister is a solicitor. I expect that I'll be able to get mate’s fee for conveyancing, but if not, what level of fees should I be paying for conveyancing in Richmond?
It’s a good idea to request multiple conveyancing estimates. Do use our comparison tool on this site. Whilst prices will be different but the service one can expect are distinct between law firms as is true with most professions.
I am due to exchange on the purchase of a property in Richmond but as a result of wreckage from some water damage at the property I have managed to agree compensation from the seller in the sum of £2k in the form of a adjustment in the price. This was going to be addressed as part of amending the contract but Yorkshire BS will not permit this. Why were they informed?
Your conveyancer that is on a Yorkshire BS conveyancing panel is obliged to inform Yorkshire BS of any amendments to the purchase price. If you prohibit your lawyer to notify the reduction to Yorkshire BS then they would have to discontinue acting for you. In addition, Yorkshire BS and you would have to appoint a new conveyancing practitioner for your conveyancing in Richmond.
When it comes to lenders such as Coventry BS, do Richmond property lawyers incur a yearly amount to be on the conveyancing panel?
We are not aware of any lender fees to register on their panel, although some do charge an administration charge to deal with the processing of the conveyancing panel application.
We previously selected solicitors based in Richmond on the Yorkshire BS solicitor panel. They are now charging me a further amount for dealing with the Yorkshire BS mortgage. Is this an additional conveyancing fee specified by Yorkshire BS?
As unfair as it may appear, as long as it’s in their Terms and Conditions or Quote then yes your conveyancer can levy a fee for this. The fee is not dictated by Yorkshire BS but by your Richmond lawyer. Numerous firms on the Yorkshire BS panel will charge ’dealing with mortgage’ fee but plenty of firms incorporate it on their overall fee.
I am due to exchange contracts on my apartment. I had a double glazing fitted in August 2010, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's lender, RBS are being problematic. The Richmond solicitor who is on the RBS conveyancing panel is happy to accept ‘lack of building regulation’ insurance but RBS are insisting on a building regulation certificate. Why do RBS have a conveyancing panel if they don't accept advice from them?
It is probably the case that RBS have referred the matter to their valuer. The reason why RBS may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
The estate agent has sent us the confirmation of our purchase of a new build apartment in Richmond. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build legal work.
Here are examples of a selection of leasehold new build questions that you may expect your new-build leasehold conveyancing in Richmond
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There must be mutual enforceability of lessee’s covenants. Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company?
Over the last few months I have been searching for a ground for flat up to £245,000 and found one near me in Richmond I like with a park and station in the vicinity, however it only has 61 remaining years left on the lease. I can't really find anything else in Richmond suitable, so just wondered if I would be making a mistake buying a short lease?
If you need a mortgage that many years may be an issue. Reduce the price by the expected lease extension will cost if it has not already been discounted. If the existing owner has owned the premises for at least twenty four months you may ask them to start the process of the extension and then assign it to you. An additional ninety years can be extended on to the current lease term and have £0 ground rent by law. You should speak to your conveyancing solicitor about this.
Can you offer any advice when it comes to finding a Richmond conveyancing firm to deal with our lease extension?
When appointing a solicitor for your lease extension (regardless if they are a Richmond conveyancing practice) it is most important that they be familiar with the legislation and specialises in this area of conveyancing. We suggest that you make enquires with two or three firms including non Richmond conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. The following questions could be of use:
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Can they put you in touch with clients in Richmond who can give a testimonial? If they are not ALEP accredited then what is the reason?
I own a studio flat in Richmond, conveyancing formalities finalised half a dozen years ago. Can you give me give me an indication of the likely cost of a lease extension? Comparable flats in Richmond with over 90 years remaining are worth £179,000. The average or mid-range amount of ground rent is £65 yearly. The lease ceases on 21st October 2082
You have 57 years remaining on your lease we estimate the premium for your lease extension to span between £26,600 and £30,800 plus costs.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to advice on a more accurate figure without more comprehensive due diligence. Do not use the figures in tribunal or court proceedings. There may be additional issues that need to be considered and clearly you should be as accurate as possible in your negotiations. Please do not take any other action based on this information before seeking the advice of a professional.