Unfortunately I am unable to travel far from Thornhill. What is the rationale as to why all Thornhill solicitors are not on all mortgage company panels?
Mortgage companies point to the fact that solicitor-led fraud is thought to be responsible for millions of pounds of fraud annually.The removal of law firms off of lender panels started with the rise in mortgage fraud, which prompted a thematic review by the FSA in 2011. Its outcome included recommendations for lenders to review their conveyancing panels, which triggered a major policy change in the sector. This resulted in banks and building societies culling less reputable firms from their panel of approved property lawyers .
AssumingI was to acquire a straightforward housein Thornhill mortgage fee and have no survey and no local authority searches how much should I expect to to save on my conveyancing in Thornhill?
The only reduction in fees you would make on is the Thornhill conveyancing searches. Your lawyer still got to do everything else - money laundering, liaising with the vendors conveyancer, stamp duty submission, register the property etc. You might save a bit for them not having to register a charge but it will not be a lot.
We are downsizing from our property in Thornhill and according to the buyers it appears that there is a possibility that the property was built on contaminated land. Any local conveyancer would know that there is no such problem. It does beg the question why the buyers instructed an online conveyancing outfit as opposed to a conveyancing solicitor in Thornhill. Having lived in Thornhill for many years we know that this is a non issue. Should we contact our local Authority to seek clarification need.
It sounds as though you may have a conveyancing solicitor currently acting for you. What do they say? You must check with your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same sickness)
The deeds to our home can not be found. The lawyers who did the conveyancing in Thornhill 4 years ago are no longer around. What are my options?
Gone are the days when you need to have the physical official documentation to evidence that you own the land or premises, as the Land Registry have everything they need in a digital format.
What does commercial conveyancing in Thornhill cover?
Commercial conveyancing in Thornhill incorporates a wide range of services, offered by qualified solicitors, relating to business premises. By way of example, this area of conveyancing can cover the sale or purchase of freehold business premises or, more usually, the transfer of existing business tenancies or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial mortgages and the termination of tenancies.
I am attracted to a two flats in Thornhill which have in the region of forty five years remaining on the lease term. Will this present a problem?
A lease is a right to use the premises for a prescribed time frame. As a lease shortens the value of the lease decreases and it becomes more expensive to acquire a lease extension. For this reason it is advisable to extend the lease term. It is often difficult to sell a property with a short lease as mortgage lenders may be unwilling to lend money on such properties. Lease enfranchisement can be a difficult process. We advise that you get professional assistance from a conveyancer and surveyor with experience in this field.
I purchased a split level flat in Thornhill, conveyancing was carried out February 1995. Can you work out an approximate cost of a lease extension? Comparable flats in Thornhill with an extended lease are worth £191,000. The ground rent is £55 levied per year. The lease comes to an end on 21st October 2073
With just 53 years unexpired we estimate the premium for your lease extension to range between £27,600 and £31,800 plus plus your own and the landlord's "reasonable" professional fees.
The suggested premium range above a general guide to costs for renewing a lease, but we are not able to supply the actual costs in the absence of detailed investigations. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information without first seeking the advice of a professional.