My previous conveyancer has sent a quote for just over a thousand pound for no sale no fee conveyancing in Seahouses. I’m looking to sell a Edwardian house for £275,000. Is this expensive? Is it above what I should be paying for conveyancing in Seahouses?
The quote is slightly on the high side. If you shop around you might decrease the fees slightly by perhaps £125. On the other hand, you mightcome to regret opting for an an unknown lawyer. Remember to ensure that the firm can also act for your lender. You can utilise our search tool to locate a Seahouses conveyancing firm on the banks approved list of lawyers which can often include conveyancing solicitors in Seahouses.
What is the difference between a licensed conveyancer and conveyancing solicitor in Seahouses
There are many registered licenced Conveyancers in Seahouses and Solicitor practices in Seahouses offering conveyancing It is important to make clear that the two are regulated professionals specialising in the legal aspects of the home buying process. The two can conduct other property legal work such as remortgage conveyancing, enfranchisement and transfer of equity conveyancing.
I'm the only recipient of my late mum's will with all property in now in my sole name, including the my former home in Seahouses. Conveyancing formalities meant that the Land Registry date was in June. I plan to dispose of the house. I do know about the Mortgage Lenders 6 month 'rule', which means that my proprietorship could be regarded the same way as if I'd bought the house in June. Will no one buy the property for half a year?
The Council of Mortgage Lenders’ handbook instructs conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you may be caught by that. How sensible a view mortgage companies take of it, depend on the mortgage company as this obligation is chiefly there to identify subsales or the quick reselling of properties.
It is not clear whether my lender obliges me to make sure the lease term for the flat is extended prior to the completion date. I have telephoned my Seahouses building society branch on a couple of occasions and was told they are content with the situation and they would lend. My Seahouses conveyancing solicitor - who is on the mortgage company conveyancing panel- telephoned and was told they refuse to lend based on their published requirements. I have no idea who is right.
Provided that the conveyancer is on the mortgage company approved list, they must follow the Council of Mortgage Lenders’ Handbook conditions for the bank. Unless your lawyer obtains specific confirmation in writing that the lender will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the lender to contact your lawyer in writing confirming that they will accept the number of years remaining.
Various online forums that I have visited warn that are the number one cause of hinderance in Seahouses conveyancing transactions. Is that correct?
The Council of Property Search Organisations (CoPSO) has noted the determinations of research by MoveWithUs that conveyancing searches do not figure amongst the most frequent causes of hindrances during the legal transfer of property. Local searches are not likely to feature in any holding up conveyancing in Seahouses.
I opted to have a survey done on a property in Seahouses ahead of appointing lawyers. I have been informed that there is a flying freehold element to the property. Our surveyor advised that some mortgage companies will not grant a loan on a flying freehold property.
It depends who your proposed lender is. HSBC has different instructions from Birmingham Midshires. If you e-mail us we can investigate further with the appropriate mortgage company. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Seahouses. Conveyancing may be slightly more expensive based on your lender's requirements.
Can you offer any advice when it comes to finding a Seahouses conveyancing practice to deal with our lease extension?
When appointing a conveyancer for lease extension works (regardless if they are a Seahouses conveyancing practice) it is imperative that he or she should be familiar with the legislation and specialises in this area of conveyancing. We suggest that you talk with two or three firms including non Seahouses conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. The following questions might be of use:
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If the firm is not ALEP accredited then why not? What are the costs for lease extension conveyancing?
Seahouses Leasehold Conveyancing - Examples of Queries before buying
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What prohibitions exist in the Seahouses Lease? Most Seahouses leasehold apartments will have a service charge for the upkeep of the building set on behalf of the landlord. Where you buy the apartment you will have to pay this charge, normally in instalments during the year. This may be anything from a few hundred pounds to thousands of pounds for blocks with lifts and large communal grounds. In all probability there will be a rentcharge for you to pay annual, ordinarily this is not a significant figure, say approximately £50-£100 but you need to enquire it because sometimes it could be many hundreds of pounds. Are there any major works anticipated that will add a premium to the service fees?
Me and my partner are hoping to buy a 2 room first floor flatin Seahouses with a home loan from a mortgage company. We like our lawyer in Seahouses yet our mortgage company advise he's not approved on their "panel". Apparently we need to choose from the our mortgage company panel solicitors or stay with our Seahouses conveyancer and pay for one of their panel ones to represent them. We feel as though this is unjust; is there anything we can do?
Unfortunately,no. The lender home loan issued is subject to conditions, one of which will be that lawyers will on the bank's conveyancing panel. Until recently, most mortgage companies had open panels, including most conveyancing solicitors in Seahouses : a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your lawyer to apply to be on the conveyancing panel for your mortgage company.