My friend's mother is a conveyancing practitioner. I hope that I'll be able to get friends and family fee for conveyancing, However if that does not come through, what kind of costs should I be paying for conveyancing in Romiley?
It’s sensible to seek multiple conveyancing estimates. Make use of our search tool on this site. Whilst estimates do vary but the service one can expect are distinct between property lawyers as is true with the vast majority of professional services.
Would the conveyancing solicitors that are recommend conduct auction conveyancing in Romiley?
There are a number of auction lawyers we can connect you with those specialising in auction conveyancing. Romiley is just one of hundreds of locations where our lawyers are based.
Should our lawyer be raising questions about flooding as part of the conveyancing in Romiley.
Flooding is a growing risk for conveyancers carrying out conveyancing in Romiley. There are those who purchase a house in Romiley, completely expectant that at some time, it may be flooded. However, aside from the physical destruction, if a property is at risk of flooding, it may be difficult to obtain a mortgage, adequate building insurance, or dispose of the property. There are steps that can be taken during the course of a property purchase to forewarn the buyer.
Solicitors are not qualified to give advice on flood risk, however there are a various checks that may be initiated by the purchaser or on a buyer’s behalf which will figure out the risks in Romiley. The standard information supplied to a buyer’s lawyer (where the solicitors are adopting what is known as the Conveyancing Protocol) includes a standard inquiry of the vendor to determine if the property has suffered from flooding. In the event that the residence has been flooded in past which is not disclosed by the seller, then a buyer may commence a compensation claim as a result of such an incorrect response. A buyer’s lawyers should also commission an environmental report. This should reveal whether there is a recorded flood risk. If so, additional investigations will need to be initiated.
I'm buying my first flat in Romiley benefiting from help to buy. The builders would not reduce the price so I negotiated £7000 of fixtures and fittings instead. The property agent suggested that I not disclose to my solicitor about the extras as it could jeopardize my loan with the lender. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the developer 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.
I am looking for a flat up to £305k and found one close by in Romiley I like with a park and railway links in the vicinity, the downside is that it's only got 51 years on the lease. I can't really find anything else in Romiley suitable, so just wondered if I would be making a mistake buying a lease with such few years left?
If you need a mortgage the shortness of the lease will be an issue. Reduce the price by the anticipated lease extension will cost if not already taken into account. If the existing proprietor has owned the property for at least 2 years you could ask them to commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the existing lease and have £0 ground rent by law. You should speak to your conveyancing solicitor regarding this matter.
I've recently bought a leasehold flat in Romiley. Do I have any liability for service charges for periods before 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 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 am the registered owner of a 2 bed flat in Romiley, conveyancing formalities finalised 4 years ago. Can you give me give me an indication of the likely cost of a lease extension? Corresponding properties in Romiley with over 90 years remaining are worth £216,000. The ground rent is £50 charged once a year. The lease expires on 21st October 2090
With just 69 years unexpired the likely cost is going to range between £9,500 and £11,000 as well as legals.
The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of detailed investigations. Do not use this information in tribunal or court proceedings. There may be additional issues that need to be considered and clearly you want to 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.