I was recommended to a conveyancer who has given a fee estimate £1350 for leasehold conveyancing in Wallingford. I am looking to sell a newly refurbished house for £175,000. Is this over the top? Is it above what I should be paying for conveyancing in Wallingford?
The estimate does seem a tad steep. Where you are content to invest time contrasting fee on a like for like basis you might reduce the fees slightly by as much as a hundred pounds. On the other hand, you maylive to regret opting for an an unknown conveyancer. Don't forget to be sure that the firm can also act for your lender. Do make use of our search tool to locate a Wallingford conveyancing practice on the banks conveyancing panel which can often include conveyancing solicitors in Wallingford.
Various online forums that I have come across warn that are the main cause of delay in Wallingford house deals. Is that correct?
The Council of Property Search Organisations (CoPSO) published determinations of a review by MoveWithUs that conveyancing searches do not figure amongst the most frequent causes of delays during the legal transfer of property. Searches are unlikely to feature in any slowing down conveyancing in Wallingford.
Me and my brother own a semi-detached Georgian house in Wallingford. Conveyancing practitioner acted for me and Bank of Scotland. I happened to do a free search for it on the Land Registry database and I saw two entries: the first freehold, the second leasehold with the matching property. Is it worth asking Bank of Scotland to clarify?
You should review the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Wallingford and other areas of the country and poses no real issues for owners other than when they sell they have to account for both freehold and leasehold interests when dealing with lenders. You can also enquire as to the situation with the conveyancing lawyer who completed the work.
I am purchasing my first flat in Wallingford with a loan from Leeds Building Society. The builders refused to reduce the price so I negotiated £7000 of extras instead. The property agent suggested that I not inform my conveyancer about this deal as it could put at risk my loan with the lender. Is this normal?.
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.
I need to instruct a conveyancing solicitor for leasehold conveyancing in Wallingford. I happened to land on a site which seems to have the perfect answer If it is possible to get all formalities done via web that would be preferable. Do I need to be wary? What should out be looking out for?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
All being well we will complete our sale of a £175,000 garden flat in Wallingford next Thursday. The freeholder has quoted £372 for Landlord’s certificate, building insurance schedule and 3 years statements of service charge. Is it legal for a freeholder to charge such fees for a leasehold conveyance in Wallingford?
Wallingford conveyancing on leasehold apartments more often than not requires the buyer’s conveyancer submitting enquiries for the landlord to address. Although the landlord is under no legal obligation to answer such questions the majority will be willing to do so. They are at liberty to charge a reasonable administration fee for responding to questions or supplying documentation. There is no upper cap for such fees. The average fee for the paperwork that you are referring to is £350, in some cases it exceeds £800. The administration charge required by the landlord must be sent together with a summary of entitlements and obligations in relation to administration charges, otherwise the invoice is technically not due. In reality one has no choice but to pay whatever is requested of you if you want to exchange contracts with the buyer.
I bought a 2 bed flat in Wallingford, conveyancing formalities finalised half a dozen years ago. Can you work out an approximate cost of a lease extension? Similar properties in Wallingford with over 90 years remaining are worth £191,000. The average or mid-range amount of ground rent is £55 levied per year. The lease ends on 21st October 2079
With only 54 years remaining on your lease we estimate the premium for your lease extension to be between £32,300 and £37,400 plus legals.
The suggested premium range above a general guide to costs for renewing a lease, but we are not able to provide a more accurate figure without more comprehensive due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There may be other concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. Please do not take any other action based on this information before getting professional advice.