Recently contacted my conveyancing solicitor in Thornton Cleveleys who conducted the legals 18 months ago asking for a conveyancing quote based on an identical type of house sale & purchase (a leasehold premises and a freehold property) of almost identical values with a loan from National Westminster Bank. It looks as though am now being charged twice the amount. Am I right to be tempted to shop around for a cheaper internet property lawyer?
The estimate fees seem a tad high. If you are prepared to expend time comparing prices you could reduce the fees slightly by as much as £125. That being said, providing that you were happy with the service the firm gave you mightcome to rue opting for an an untested lawyer. Remember to be sure the firm can represent National Westminster Bank. You can use our search tool to find a Thornton Cleveleys conveyancing firm on the National Westminster Bank member panel, which can often include conveyancing solicitors in Thornton Cleveleys.
My relative recommended that where I am purchasing in Thornton Cleveleys I should ask my conveyancer to carry out a Neighbourhood, Planning and Local Amenity Search. What does it cover?
This is a search is occasionally included in the estimate for your Thornton Cleveleys conveyancing searches. It is a large document of about 40 pages, listing and detailing significant information about Thornton Cleveleys around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Thornton Cleveleys Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average Property Price, Crime details, Thornton Cleveleys Education with plans and statistics, Local Amenities and other useful information concerning Thornton Cleveleys.
2 months have elapsed following my purchase conveyancing in Thornton Cleveleys concluded. I have checked the Land Registry website which shows that I paid £200,000 when infact I paid £160,000. 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 premises 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.
I have been on the look out for a leasehold apartment up to £195,000 and identified one round the corner in Thornton Cleveleys I like with a park and railway links nearby, the downside is that it's only got 52 years unexpired on the lease. There is not much else in Thornton Cleveleys for this price, so just wondered if I would be making a mistake buying a short lease?
If you require a home loan the remaining unexpired lease term will be a potential deal breaker. Discount the offer by the amount the lease extension will cost if it has not already been discounted. If the current owner has owned the premises for a minimum of 2 years you can request that they commence the lease extension formalities and pass it to you. You can add 90 years to the existing lease term with a zero ground rent applied. You should speak to your conveyancing solicitor regarding this.
I am attracted to a two apartments in Thornton Cleveleys both have in the region of 50 years unexpired on the leases. Do I need to be concerned?
A lease is a right to use the premises for a period of time. As a lease gets shorter the saleability of the lease decreases and results in it becoming more expensive to extend the lease. This is why it is often a good idea to extend the lease term. It is often difficulties arise selling premises with a short lease as mortgage companies may be unwilling to lend money on properties of this type. Lease extension can be a difficult process. We recommend you get professional help from a conveyancer and surveyor with experience in this area.
Thornton Cleveleys Leasehold Conveyancing - Sample of Questions you should ask before buying
Best to be warned whether a new roof is being put on or some other significant cost is coming up to be shared by the leasehold owners and will materially increase the the service costs or require a one time payment. Does the lease have onerous restrictions? What is the the remaining lease term?
I have been informed by many family members that it should take 6-8 weeks for Thornton Cleveleys conveyancing to complete.This was four weeks ago. The draft contract was only forwarded to my solicitor yesterday so does the clock start running now?
It would be unwise bank on counting down a two month period. Answering accurately how long Thornton Cleveleys conveyancing will take is nigh on impossible. Without fail every property will have it’s own unique set of complexities. As a result your conveyancer should be unwilling to guarantee a precise timeframe to finalise conveyancing in Thornton Cleveleys.