AssumingI were to buy a simple residential homein Brighton for cash and have no survey and no conveyancing searches how much could I expect to have to pay for conveyancing in Brighton?
Any savings you would achieve would be isolated to the Brighton conveyancing searches. Your conveyancer still be obliged to do everything else - money laundering, liaising with the vendors solicitor, stamp duty return, register the title etc. You might save a bit for them not having to register a mortgage but it won't be significant.
Should my conveyancer be raising enquiries concerning flooding during the conveyancing in Brighton.
Flooding is a growing risk for conveyancers specialising in conveyancing in Brighton. Plenty of people will buy a house in Brighton, fully aware that at some time, it may be flooded. However, leaving to one side the physical destruction, if a house is at risk of flooding, it may be difficult to obtain a mortgage, satisfactory building insurance, or sell the premises. Steps can be carried out as part of the conveyancing process to forewarn the purchaser.
Solicitors are not qualified to offer advice on flood risk, but there are a various checks that may be undertaken by the purchaser or by their solicitors which should figure out the risks in Brighton. The standard information supplied to a buyer’s conveyancer (where the Conveyancing Protocol is adopted) contains a usual question of the vendor to determine if the property has suffered from flooding. If the premises has been flooded in past and is not notified by the seller, then a buyer may issue a compensation claim as a result of such an inaccurate reply. A purchaser’s conveyancers will also conduct an enviro search. This will indicate whether there is any known flood risk. If so, additional investigations will need to be made.
How do I identify a Brighton law firm on the Nationwide Building Society conveyancing panel? I have a car and am prepared to travel upto 10kilometers to meet the solicitor.
Feel free to make use of the facility on this website. Please pick a mortgage company and your location and you will see a number of Brighton conveyancing lawyers locally. We have listed some Brighton conveyancing firms at the bottom of this page and you can contact them to see if they are on the Nationwide Building Society approved list
I am tempted by the attractive purchase price for a two apartments in Brighton which have in the region of 50 years left on the leases. Will this present a problem?
There are plenty of short leases in Brighton. The lease is a right to use the premises for a period of time. As the lease shortens the marketability of the lease decreases and results in it becoming more costly to acquire a lease extension. This is why it is generally wise to increase the term of the lease. Sometimes it is difficult to sell a property with a short lease because mortgage companies may be reluctant to lend money on such properties. Lease extension can be a protracted process. We advise that you seek professional assistance from a conveyancer and surveyor with experience in this area.
I own a ground floor flat in Brighton, conveyancing formalities finalised half a dozen years ago. Can you give me give me an indication of the likely cost of a lease extension? Comparable flats in Brighton with a long lease are worth £191,000. The ground rent is £55 yearly. The lease terminates on 21st October 2072
You have 53 years remaining on your lease the likely cost is going to be between £27,600 and £31,800 plus costs.
The figure that we have given is a general guide to costs for extending a lease, but we are not able to supply a more accurate figure without more detailed due diligence. Do not use this information in tribunal or court proceedings. There may be other concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. Neither should you take any other action based on this information before seeking the advice of a professional.
When it comes to my conveyancing in Brighton should I be charged VAT on the following: (1) Land reg fee on purchase (2) Pre - completion search fee (3) SDLT E submission on purchase (4) Bank TT fee
(1) Land reg fee on purchase - No (2) Pre - completion search fees -No, (such conveyancing searches are HMLR ones and means £4 and possibly £2 bankruptcy per name on your mortgage) (3) SDLT E submission on your purchase - There is no VAT on Stamp Duty. However if the firm is charging a stamp duty e-submission fee as part of their services - some Brighton conveyancers do - that will incur VAT(4) Bank transfer fee - Yes it is for the property lawyer's time in submitting the funds this way.