I'm in the process of changing my existing standard mortgage to a Buy to Let Clydesdale mortgage. I have been informed by my broker that I need a lawyer as part of the process. I got in contact with the same Coleford conveyancing solicitor who dealt with the legals when I initially purchased the property. The quote sent of £450 plus VAT has taken me by surprise as I am not require purchase conveyancing - it’s just a straightforward remortgage.
The estimate does seem a tad overpriced. If you are prepared to spend time scrutinising prices you may be able to decrease the fees marginally by as much as £125. On the other hand, providing that you were content with the legal work the firm offered you couldlive to rue choosing an an untested conveyancer. Don't forget to ensure that the solicitor can also act for Clydesdale. Do utilise our search tool to find a Coleford conveyancing firm on the Clydesdale conveyancing panel, which can often include conveyancing solicitors in Coleford.
My wife and I have recently appointed a conveyancing solicitor in Coleford. I I am struggling to find out whether they are on the Nationwide Building Society conveyancing panel. Can you or the lender confirm if they are on the panel?
You should call the lawyer and enquire if they can act for the lender. Otherwise please get in touch with Nationwide Building Society who may be able to confirm.
I am purchasing my first flat in Coleford with a mortgage from Birmingham Midshires. The sellers refused to budge the amount so I negotiated five thousand pounds worth of extras instead. The property agent advised me not inform my lawyer about this extras as it could jeopardize my mortgage with the bank. Do I keep my lawyer in the dark?.
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.
I am selling my property. My previous solicitors have shut. I am in need of a recommendation of a conveyancing firm. I happen to live in Coleford if that makes things easier.
Do use our search tool to help you find a solicitor for your conveyancing in Coleford. We have connected thousands of home buyers and sellers with regulated solicitors to ensure that the legalities of their house move goes with a minimum of fuss.
I am employed by a reputable estate agency in Coleford where we see a number of leasehold sales derailed due to short leases. I have received contradictory information from local Coleford conveyancing firms. Could you shed some light as to whether the owner of a flat can commence the lease extension formalities for the purchaser on completion of the sale?
Provided that the seller has owned the lease 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. This means that the buyer need not have to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or at the same time as completion of the sale.
An alternative approach is to extend the lease informally by agreement with the landlord 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.
I am the registered owner of a 1 bedroom flat in Coleford, conveyancing formalities finalised 6 years ago. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Similar flats in Coleford with a long lease are worth £181,000. The average or mid-range amount of ground rent is £55 per annum. The lease runs out on 21st October 2071
With 50 years left to run the likely cost is going to be between £31,400 and £36,200 plus professional fees.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of comprehensive investigations. Do not use this information in tribunal or court proceedings. There may be additional concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. You should not move forward based on this information before getting professional advice.