I was referred a solicitor who has given a fee estimate just over a thousand pound for no completion no fee conveyancing in Billingham. I am hoping to sell a purpose built property for £200,000. Is this too much? Is it above what I should be paying for conveyancing in Billingham?
The costs illustration is slightly on the steep side. If you shop around you could reduce the fees marginally by say a hundred pounds. That being said, you maylive to regret choosing an a cheaper solicitor. If is important to enquire that the firm can also act for your mortgage company. Do make use of our search tool to get a quote a Billingham conveyancing practice on the banks approved list of lawyers which can often include conveyancing solicitors in Billingham.
Why do I have to pay up front for conveyancing in Billingham?
Where you are retaining lawyers for conveyancing in Billingham your lawyer will request that you place them with monies to cover the search fees. Generally this is requested to cover the fees of the Local Authority Search. When the down payment is as part of the purchase price then this will be needed shortly prior to contracts are exchanged. Any further balance that is needed should be sent to your lawyer a couple of days prior to the day of completion.
About to place a bid on a leasehold apartment in Billingham. The selling agents tell me that it is usual for flats in Billingham to have less than 75 years unexpired on the lease. I am obtaining a mortgage with Accord Mortgages. Will the property be mortgageable given that the lease has 70 years remaining.
Most leasehold conveyancing experts should be able to deal with a lease extension. if you are obtaining a mortgage then your lender may insist that the lease be extended before competition. Accord Mortgages have specific requirements as set out in the UK Finance Lenders’ Handbook in relation to minimum unexpired lease terms. As of 3/10/2024 the requirements read as follows :
My wife and I have a terraced Edwardian property in Billingham. Conveyancing lawyer represented me and HSBC Bank. I happened to do a free search for it on the Land Registry database and I saw a couple of entries: one for freehold, the second leasehold under the matching address. Is it worth asking HSBC Bank to clarify?
You should review the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Billingham 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 position with your conveyancing solicitor who completed the work.
I'm purchasing my first flat in Billingham with the aid of help to buy. The sellers refused to move on the amount so I negotiated £7000 of fixtures and fittings instead. The property agent told me not reveal to my lawyer about this extras as it may jeopardize my mortgage with Nottingham Building Society. 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.