My friend's uncle is a property lawyer. I hope that I can be offered mate’s pricing for conveyancing, but if not, what level of figure would I typically be looking at for conveyancing in Yaxley?
It’s wise to request two or three conveyancing quotes. Do use our search tool on this site. Whilst fees may contrast greatly but the service one can expect are distinct between solicitors as is the case with the vast majority of professional services.
My wife and I are buying a newly built apartment in Yaxley and my solicitor is telling me that she is duty bound to the bank to disclose incentives from the developer. The Estate Agents are hassling me to sign contracts and my preference is not to delay the conveyancing. is my lawyer playing by the book?
You should not exchange unless you have been advised to do so by your property lawyer. A precondition to being on a lender panel is to comply with the UK Finance Lenders’ Handbook requirements. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
I am considering mortgaging my home in Yaxley, does my lawyer have to be on the Bank of Ireland Solicitor panel?
There is nothing to stop you using your solicitor, but Bank of Ireland will insist on their interests being represented by a firm on their conveyancing panel. There is much more potential for delays and confusion with two solicitors involved, and it will undoubtedly be more expensive too.
I can see plenty of information on this site about conveyancing in Yaxley but what is your top tip for appointing the right conveyancer in Yaxley
Do not opt for the cheapest Yaxley conveyancing quote. You really do get what you’re paying for when it comes to property lawyers. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you go into the conveyancing with your eyes wide open.
Can you point me to a directory of Nationwide panel conveyancers in Yaxley on the Building Society Association’s Website?
Unfortunately not yet. There is no such tool on the CML or Building Society Association sites. A small selection of banks make their panel listings open the public online. Where you are in need of a Yaxley lawyer on the Nationwide please make the most of our tool.
I had a mortgage agreed in principle with Nationwide. Yaxley conveyancing solicitors have been appointed. How long does it take for Nationwide to forward the offer to the lawyer?
There is no definitive answer here. Have Nationwide done the valuation? Have you informed Nationwide as to your lawyers' details and checked that your lawyers are on the Nationwide conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
I am purchasing a new build house in Yaxley with a loan from The Royal Bank of Scotland. The builders refused to budge the amount so I negotiated 6k of extras instead. The estate agent told me not inform my solicitor about the extras as it will adversely affect my loan with the bank. Do I keep my lawyer in the dark?.
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.
I am employed by a reputable estate agency in Yaxley where we see a few flat sales derailed due to short leases. I have received contradictory information from local Yaxley conveyancing solicitors. Please can you clarify whether the seller of a flat can start the lease extension process for the buyer?
Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer need not have to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or simultaneously with completion of the disposal of the property.
An alternative approach is to extend the lease informally by agreement with the landlord 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 bought a 1 bedroom flat in Yaxley, conveyancing formalities finalised in 2006. Can you work out an approximate cost of a lease extension? Comparable properties in Yaxley with an extended lease are worth £165,000. The average or mid-range amount of ground rent is £50 yearly. The lease ceases on 21st October 2103
With only 77 years remaining on your lease we estimate the price of your lease extension to range between £7,600 and £8,800 plus plus your own and the landlord's "reasonable" professional fees.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more comprehensive due diligence. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. You should not move forward placing reliance on this information without first getting professional advice.