Having been recommended your organisation we were going to use a conveyancing solicitor in Saxmundham listed by you but stumbled across some other estimates via the web appear less expensive – why is this?
You can find many firms of conveyancing organisations advertising pretending to offer cheap conveyancing, unfortunately it’s common in such cases for supplementalcharges result in the final invoice totally different to the one you expected. According to the Legal Ombudsman charges set out in terms of engagement should be honest and reasonable raised The solicitors that we put forward for conveyancing in Saxmundham specify all charges for the property you intend topurchase.
My husband and I are acquiring a brand new flat in Saxmundham and my lawyer is informing me that she is duty bound to the mortgage company to disclose incentives from the seller. The Estate Agents are hassling me to exchange and my preference is not to prolong matters. Is my lawyer right?
You should not exchange unless you have been advised to do so by your conveyancer. A precondition to being on a bank panel is to comply with the UK Finance Lenders’ Handbook specifications. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
The estate agent has sent us the confirmation of our purchase of a new build apartment in Saxmundham. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build legal work.
Here are examples of a few leasehold new build questions that you can expect your new-build leasehold conveyancing in Saxmundham
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Please confirm the Lease plans are surveyor prepared. There must be mutual enforceability of lessee’s covenants. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? Forfeiture - bankruptcy or liquidation must not apply under this provision. Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease.
I decided to have a survey carried out on a house in Saxmundham in advance of retaining solicitors. I have been told that there is a flying freehold element to the house. My surveyor has said that some mortgage companies tend not issue a mortgage on a flying freehold premises.
It varies from the lender to lender. Bank of Scotland has different instructions for example to Halifax. Should you wish to telephone us we can check with the relevant lender. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Saxmundham. Conveyancing may be slightly more expensive based on your lender's requirements.
I have been pointed in your direction by a number of property agents in Saxmundham to locate a solicitor using your seach tool. What’s the financial inducement for Estate Agents to market your services over and above a competitor’s?
We refuse to make any commission for directing people in our direction. We found it would be just too difficult a fee because a client could think, ‘Why is the agent getting a kickback? Why am I not getting any benefit too?’ We would prefer to grow our business on genuine recommendations.
One month into purchasing a house in Saxmundham. Conveyancing solicitor has called to say the title is "Leasehold". Will this likely impact our home loan valuation?
Saxmundham conveyancing does not normally involve leasehold houses. The key factor here is the length of lease and the ground rent. If it's 999 years with a nominal rent, it's almost the same as freehold, so it’s unlikely to affect the value too much.
On the flip side, if it's, say, fifty five years it will have a material effect on the saleability, and most likely wouldn't be acceptable to the mortgage company. The length of lease and ground rent will be stated in the lease provided to your conveyancer.