Can I use your services to locate a Conveyancing solicitor in Shinfield even if I’m not buying or disposing of a house, for instance where I want to acquire an office in Shinfield with a mortgage from Nationwide Building Society?
Our comparison service is mainly there to help choose residential conveyancing solicitors in Shinfield but we have recorded at the bottom of this page a selection of Shinfield commercial conveyancing firms. You should enquire with the solicitors directly to check if they are also authorised to represent Nationwide Building Society
I have been told that property searches are the number one cause of obstruction in Shinfield house deals. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) published findings of research by MoveWithUs that conveyancing searches do not feature within 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 Shinfield.
I'm buying a new build house in Shinfield with a loan from HSBC Bank. The sellers would not budge the price so I negotiated five thousand pounds worth of fixtures and fittings instead. The sale representative told me not disclose to my conveyancer about the extras as it could put at risk my mortgage with the lender. 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.
Over the last few months I have been searching for a flat up to £305k and identified one near me in Shinfield I like with open areas and railway links nearby, the downside is that it's only got 52 remaining years left on the lease. I can't really find anything else in Shinfield suitable, so just wondered if I would be making a grave error purchasing a short lease?
Should you require a home loan the remaining unexpired lease term will be problematic. Reduce the price by the anticipated lease extension will cost if not already taken into account. If the existing proprietor has owned the premises for at least twenty four months you may request that they start the process of the extension and then assign it to you. You can add 90 years to the current lease with a zero ground rent applied. You should consult your conveyancing lawyer about this.
I work for a reputable estate agency in Shinfield where we have witnessed a few flat sales put at risk as a result of short leases. I have received conflicting advice from local Shinfield conveyancing firms. Could you confirm whether the vendor of a flat can commence the lease extension formalities for the purchaser on completion of the sale?
Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer need not have to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or at the same time as completion of the sale.
Alternatively, it may be possible to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.
I own a basement flat in Shinfield, conveyancing formalities finalised 5 years ago. How much will my lease extension cost? Equivalent flats in Shinfield with over 90 years remaining are worth £222,000. The ground rent is £50 invoiced every year. The lease ceases on 21st October 2095
You have 70 years unexpired the likely cost is going to range between £9,500 and £11,000 as well as costs.
The figure above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more detailed investigations. You should not use the figures in tribunal or court proceedings. There are no doubt other issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. You should not take any other action based on this information before getting professional advice.
Are Shinfield conveyancing solicitors duty bound by the Law Society to supply transparent conveyancing costs?
Contained within the Solicitors Code of Conduct are set rules and regulations as to how the Solicitors Regulation Authority (SRA) allow solicitors to publicise their fees to clients.The Law Society have practice note giving advice on how to publicise transparent charges to avoid breaching any such rule. Practice notes are not legal advice issued by the Law Society and is not intended as the only standard of good practice a conveyancing solicitor should adhere to. The Practice Note does, however, represent the Law Society’s perspective of acceptable practice for publicising conveyancing charges, and accordingly it’s a recommended read for any solicitor or conveyancer in Shinfield or beyond.