Our family solicitor has sent a quote for £1150 for freehold conveyancing in Spitalfields. I am looking to sell a Georgian property for £150,000. Are the quoted fees excessive? Is it in excess of what I should be paying for conveyancing in Spitalfields?
The costs illustration is fractionally on the high side. If you are content to spend time scrutinising quotes you might decrease the fees slightly by perhaps £100 plus VAT. That being said, you maylive to rue choosing an an unknown lawyer. Remember to enquire the firm can act for your bank. You can make use of our comparison tool to find a Spitalfields conveyancing firm on the banks approved list of lawyers which can often include conveyancing solicitors in Spitalfields.
In what way does my ID and proof of funds have anything to do with my conveyancing in Spitalfields? Is this really necessary?
Anti-terror and anti-money-laundering regulations require solicitors and licensed conveyancers to verify the identity of the person or body they are dealing with before they can accept their conveyancing retainer. The Terms and Conditions that you are required to sign should confirm this. Your lawyer also has obligations to obtain certain documents in accordance with the CML Lenders Handbook requirements last updated on 1st December 2014. Where you are unwilling to provide ID verification documents, your conveyancer would not be able to act for you.
4 months have elapsed since my purchase conveyancing in Spitalfields completed. I have checked the Land Registry website which shows that I paid £200,000 when infact I paid £180,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the residence from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
Yesterday I discovered that there is a flying freehold element on a property I have offered on two weeks back in what should have been a simple, no chain conveyancing. Spitalfields is where the house is located. Can you offer any opinion?
Flying freeholds in Spitalfields are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Spitalfields you would need to get your solicitor to go through the deeds diligently. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Spitalfields may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
Taking into account that I will soon part with £400,000 on a terraced house in Spitalfields I wish to have a conversation with the lawyer concerning theconveyancing before instructing the firm. Is this something that you can arrange?
We could not agree more - it is our preference to talk to you we do not take any clients on without you liaising with the solicitor due to be doing your conveyancing in Spitalfields.There is no ‘factory style conveyancing’ - every client is an important person, not a case reference. The practices that we put you in touch with believe that the figure you are provided with for residential conveyancing in Spitalfields should be the amount on the final invoice that you are charged.
Can you offer any advice when it comes to choosing a Spitalfields conveyancing firm to deal with our lease extension?
If you are instructing a conveyancer for your lease extension (regardless if they are a Spitalfields conveyancing firm) it is most important that they be familiar with the legislation and specialises in this area of work. We recommend that you make enquires with two or three firms including non Spitalfields conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. The following questions could be useful:
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How many lease extensions have they carried out in Spitalfields in the last year? Can they put you in touch with clients in Spitalfields who can give a testimonial?
After years of dialogue we simply can't agree with our landlord on how much the lease extension should cost for our flat in Spitalfields. Can we issue an application to the Residential Property Tribunal Service?
Most definitely. We are happy to put you in touch with a Spitalfields conveyancing firm who can help.
An example of a Freehold Enfranchisement case for a Spitalfields residence is 1-41 Royal Tower Lodge 40 Cartwright Street in April 2013. the tribunal adding the agreed value of capitalised ground rents and the reversion the price to be paid for the freehold was £1,187,000 This case affected 41 flats. The unexpired lease term was 107 years.