Just been in touch with my conveyancing lawyer in Warsash who completed the legal work two years ago asking for a conveyancing costs illustration based on an identical type of house sale & purchase (a leasehold premises and a freehold premises) of similar values with a loan from Aldermore. I am now being quoted double. Am I right to be tempted to shop around for an alternative property lawyer?
The estimate does seem a little overpriced. If you are prepared to spend time scrutinising quotes you could shave off some of the cost by perhaps £100 plus VAT. That being said, if you were pleased with the legal work the firm provided you maylive to rue opting for an an unknown solicitor. If is important to check the firm can also act for Aldermore. Do make use of our search tool to choose a Warsash conveyancing firm on the Aldermore conveyancing panel, which can often include conveyancing solicitors in Warsash.
Would the conveyancing solicitors identified via your search tool carry out conveyancing in Warsash by way of an attended exchange?
We do have a number of conveyancing specialists who can conduct one day exchanges. Please contact us to secure a conveyancing quote and details as to dates.
I'm buying a new build house in Warsash with the aid of help to buy. The builders refused to move on the amount so I negotiated 6k of extras instead. The house builders rep told me not to tell my conveyancer about the extras as it may affect my loan with the bank. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the developer 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.
My father has encouraged me to use his lawyers for conveyancing in Warsash. Should I choose my own solicitor?
Much as we are happy to recommend a Warsash conveyancing lawyer the ideal way to find a conveyancing lawyer is to get recommendations from friends or family who have actually used the conveyancer that you are considering.
I work for a reputable estate agent office in Warsash where we have witnessed a few leasehold sales put at risk due to short leases. I have been given conflicting advice from local Warsash conveyancing solicitors. Could you confirm whether the vendor of a flat can instigate the lease extension process for the purchaser on completion of the sale?
As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser need not have to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or at the same time as completion of the disposal of the property.
An alternative approach is to agree the lease extension with the freeholder 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 purchased a leasehold flat in Warsash, conveyancing having been completed November 2011. Can you let me have an estimated range of the fair premium for a lease extension? Comparable flats in Warsash with an extended lease are worth £260,000. The ground rent is £45 invoiced annually. The lease terminates on 21st October 2096
With 74 years left to run we estimate the premium for your lease extension to span between £8,600 and £9,800 as well as professional fees.
The figure that we have given is a general guide to costs for renewing a lease, but we are not able to advice on a more accurate figure without more detailed due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There may be additional concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information before seeking the advice of a professional.
Do all mortgage companies provide you with an approved list of Warsash solicitors? How do you know who is on the lender conveyancing panel?
Warsash law firm practices and firms conducting conveyancing in Warsash themselves provide us confirmation that they are on the mortgage company conveyancing panel as opposed to being supplied with a list from the bank directly.