We were about to choose a conveyancing solicitor in Acocks Green found using your comparison tool but stumbled across alternative quotes via the web appear less pricey – why is this?
You can find plenty of websites advertising supposedly cut-price conveyancing, but additionalcosts end up with the final invoice mounting up beyond all recognition. Solicitors ought to ensure charges listed in terms and conditions should be equitable invoiced The law firms that we put forward for conveyancing in Acocks Green genuinely set out all charges for the property you plan topurchase.
Is there a reason why leasehold purchase conveyancing in Acocks Green costs more?
Acocks Green leasehold conveyancing transactions usually involve additional investigations than freeholds including investigating the Lease, liaising with the Landlord such as serving appropriate notices on the Landlord or managing agent, obtaining up-to-date service charge and management information, obtaining Landlord’s consents and reviewing management accounts and formation documents.
I had intended to instruct a property lawyer in Acocks Green for our house move. Our financial adviser informed us that our mortgage company Bank of Ireland won't deal with them. Why is this not regarded as unduly restrictive?
Mortgage Companies tend to restrict either the type or the number of conveyancing firms on their member panel. A common example of such criteria being that a firm must not be a sole practitioner. As well as restricting the profile of firm, some have limited the amount of solicitor practices they permit to act for them. You should note that Bank of Ireland have no responsibility for the quality of advice provided by any member of Bank of Ireland Conveyancer Panel. Mortgage fraud was a primary driver in the reduction of solicitor panels a few years ago even though there are mixed opinions concerning the extent of solicitor involvement in some of that fraud. Data from the Land Registry reveal that hundreds of law firms, including some in or near Acocks Green only conduct one or two conveyances per annum.
I'm refinancing my existing property to a buy to let loan with Yorkshire Building Society and I will use the ballance of the raised equity towards a second property. The area we are interested in is Acocks Green. Will your conveyancers be able to act for both sets of mortgage companies and tie in the two deals?
Make use of our search tool on this site to check that the solicitors are approved by both lenders. Assuming that they are your conveyancer should be able to simultaneously deal with the two transactions but you should have a chat with you solicitor and communicate your expectations and requirements.
I work for a busy estate agent office in Acocks Green where we have witnessed a few flat sales put at risk as a result of leases having less than 80 years remaining. I have been given inconsistent advice from local Acocks Green conveyancing solicitors. Could you confirm whether the seller of a flat can instigate the lease extension process for the buyer?
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. The benefit of this is that the buyer need not have to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or at the same time as completion of the sale.
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.
Acocks Green Conveyancing for Leasehold Flats - Examples of Queries before Purchasing
It is important to be aware whether redecorating or some other significant cost is due shortly that will be shared between the tenants and may well dramatically increase the the service charges or result in a specific payment. How much is the ground rent and service charge? For many Acocks Green leaseholds the cost for major works tend not to be incorporated into the service charges, although there some managing agents in Acocks Green ask leasehold owners to contribute towards a reserve fund and this is used to offset against major works.