Some advice if I may. My Bookham solicitor is informing me me that he is legally obliged toorder Bookham conveyancing searches becausethe firm are on the Nat Westapproved lawyer panel. Do I not have any say here?
You have limited options available to you. Given that you are taking out a loan with a mortgage company your solicitor has to comply with their conditions as set out in their version of the CML Conveyancing Handbook. Your conveyancing practitioner would have previously signed the Terms and Conditions of your lender’s conveyancing panel appointment which obliges them to follow the CML Handbook specifications . Even if you were a cash buyer you would be ill advised not to carry out Bookham conveyancing searches.
If you had a top tip for selecting a conveyancing solicitor in Bookham what would it be?
Do not opt for the cheapest Bookham conveyancing quote. You really do get what you pay 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.
We had chosen conveyancers based in Bookham on the Nationwide solicitor panel. They are now charging me a separate charge for the legal aspects of the Nationwide mortgage. Is this an additional conveyancing fee set by Nationwide?
As unfair as it may seem, as long as it’s in their Terms of Engagement or estimate then yes your property lawyer is entitled to charge a fee for this. This charge is not dictated by Nationwide but by your Bookham solicitor. Some firms on the Nationwide panel will quote ’dealing with mortgage’ fee but plenty of firms incorporate it on their overall fee.
Last month we had a mortgage agreed in principle with TSB. Bookham conveyancing lawyers are selected. How long does it take for TSB to send the offer to the conveyancer?
There is no definitive answer here. Have TSB done the survey? Have you informed TSB as to your lawyers' details and checked that your lawyers are on the TSB conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
How does conveyancing in Bookham differ for new build properties?
Most buyers of new build or newly converted property in Bookham contact us having been asked by the builder to sign contracts and commit to the purchase even before the property is built. This is because developers in Bookham typically acquire the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Bookham or who has acted in the same development.
I've recently found out that there is a flying freehold issue on a house I have offered on two weeks back in what should have been a simple, no chain conveyancing. Bookham is where the house is located. Is there any guidance you can impart?
Flying freeholds in Bookham are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Bookham you must be sure that your lawyer goes through the deeds diligently. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Bookham may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
Completion is due on our sale of a £450,000 apartment in Bookham next week. The freeholder has quoted £360 for Certificate of Compliance, insurance certificate and previous years service charge statements. Is it legal for a freeholder to charge an administration fee for a flat conveyance in Bookham?
Bookham conveyancing on leasehold flats more often than not necessitates the buyer’s solicitor submitting questions for the landlord to answer. Although the landlord is not legally bound to respond to such questions most will be content to assist. They may invoice a reasonable charge for answering enquiries or supplying documentation. There is no upper cap for such fees. The average costs for the information that you are referring to is £350, in some situations it is in excess of £800. The management information fee levied by the landlord must be accompanied by a summary of entitlements and obligations in relation to administration charges, otherwise the charge is not strictly payable. Reality however dictates that you have little option but to pay whatever is demanded if you want to sell the property.
I acquired a 2 bed flat in Bookham, conveyancing was carried out February 2006. Can you give me give me an indication of the likely cost of a lease extension? Comparable flats in Bookham with an extended lease are worth £227,000. The ground rent is £50 levied per year. The lease terminates on 21st October 2090
With just 72 years remaining on your lease we estimate the premium for your lease extension to range between £9,500 and £11,000 as well as legals.
The figure that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of detailed due diligence. Do not use this information in tribunal or court proceedings. There are no doubt other issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. You should not move forward placing reliance on this information before seeking the advice of a professional.