The mortgage offer from HSBC for the refinancing of my 3 room maisonette is due any day now. Could you recommend a low cost conveyancing law firm in Bungay?

This site is not designed to help those in their quest for the cheapest conveyancing in Bungay. We can offer you excellent value conveyancing but our intention is not to work with the cheapest lawyers. Resist the temptation to appoint companies offering the bait of low cost conveyancing in Bungay. The optimum outcome, in choosing a lawyer for low cost conveyancing, you will get your money’s worth and at worst it will result in you invoiced for additional fees and still not end up with the service expected.

Why is leasehold purchase conveyancing in Bungay costs more?

The conveyancing fees on a leasehold premises in Bungay is often greater than on a freehold acquisition or disposal. This is due to the additional time necessary in dealing with the landlord and management company to collate the information about whether the rent and maintenance fee have been cleared and whether there are any major works due in the near future on repairs or maintenance of the block.

Are all Bungay Conveyancing Quality Solicitors on the conveyancing list of approved practices?

It is true that some banks and building societies now utilise CQS as the kick off point for Panel membership such as HSBC and Santander. The Law Society’s CQS membership however gives no guarantee to lender panel acceptance. That being said,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for solicitor practices wishing to join their approved list of conveyancing solicitors.

We had chosen solicitors with offices in Bungay on the solicitor approved list. They have just billed me an additional sum for the legal aspects of the mortgage. Is this a supplemental conveyancing fee specified by ?

Unfortunately, so long as it is in their Terms of Engagement or Quote then yes your is entitled to levy a fee for this. This charge is not dictated by but by your Bungay . Some firms on the panel will levy ’dealing with mortgage’ fee and others do not.

We were going to get a OIP from this week so we can work out what to offer on a property we like as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc). Do recommend any Bungay solicitors on the conveyancing panel, or is it better to go independently?

You will need to appoint Bungay solicitors independently although you'll need to choose one on the conveyancing panel. The solicitor represents both you and through the process.

I am looking for a flat up to £245,000 and found one round the corner in Bungay I like with open areas and transport links nearby, however it's only got 49 years unexpired on the lease. There is not much else in Bungay in this price bracket, so just wondered if I would be making a mistake buying a short lease?

If you require a mortgage the remaining unexpired lease term will be an issue. Discount the offer by the anticipated lease extension will cost if it has not already been discounted. If the current proprietor has owned the property for at least 2 years you could request that they commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the current lease term with a zero ground rent applied. You should speak to your conveyancing lawyer concerning this.

I’m about to sell my ground floor apartment in Bungay.Conveyancing is yet to be initiated but I have just had a half-yearly service charge invoice – should I leave it to the buyer to sort out?

Your conveyancing lawyer is likely to suggest that you should pay the maintenance contribution as you normally would because all ground rent and maintenance payments should be apportionedon completion, so you will be reimbursed by the purchaser for the period running from after the completion date to the subsequent invoice date. Most management companies will not acknowledge the buyer unless the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially