My family solicitor has sent a quote for £1700 for freehold conveyancing in Colney Hatch. I’m selling a modern detached home for £125,000. Are these estimated fees excessive? Is it in excess of the norm for conveyancing in Colney Hatch?
The estimate does seem marginally steep. If you shop around you might trim some of the expense by perhaps £125. On the other hand, you maycome to regret choosing an an untested conveyancer. If is important to check the conveyancer can represent your mortgage company. You can employ our search tool to find a Colney Hatch conveyancing practice on the lender’s approved list of lawyers which can often include conveyancing solicitors in Colney Hatch.
In scouring mumsnet.com for a conveyancing solicitor in Colney Hatch, many say that I must instruct a CQS kitemarked lawyer. Can you explain what CQS is?
The Law Society's Conveyancing Quality Scheme is the recognised kitemark for legal experts in home moving process, trusted by some of the UK's biggest lenders. Four years ago the Conveyancing Quality Scheme was officially recognised by the Building Societies Association (BSA). CQS is not a scheme offered by the Council of Licensed Conveyancing. Colney Hatch is one of the many areas in England and Wales where there are Accredited solicitors.
A colleague suggested that if I am purchasing in Colney Hatch I should ask my conveyancer to carry out a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
A search of this type is occasionally quoted for as part of the standard Colney Hatch conveyancing searches. It is not a small document of about 40 pages, listing and detailing significant information about Colney Hatch around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average Property Price, Crime details, Colney Hatch Education with maps and statistics, Local Amenities and other useful data regarding Colney Hatch.
Due to the guidance of my in-laws I had a survey completed on a house in Colney Hatch ahead of instructing solicitors. I have been advised that there is a flying freehold aspect to the property. Our surveyor has said that some banks tend not give a loan on this type of property.
It depends who your proposed lender is. Bank of Scotland has different instructions for example to Birmingham Midshires. Should you wish to call us we can investigate further with the relevant lender. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Colney Hatch. Conveyancing may be slightly more expensive based on your lender's requirements.
I am employed by a reputable estate agency in Colney Hatch where we see a few flat sales jeopardised due to short leases. I have been given contradictory information from local Colney Hatch conveyancing solicitors. Could you clarify whether the owner of a flat can initiate the lease extension process for the buyer?
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. The benefit of this is 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 simultaneously with completion of the sale.
An alternative approach is to agree the lease extension with the freeholder 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 proprietor of a second floor flat in Colney Hatch. In the absence of agreement between myself and the landlord, can the Leasehold valuation Tribunal determine the sum payable for the purchase of the freehold?
You certainly can. We can put you in touch with a Colney Hatch conveyancing firm who can help.
An example of a Lease Extension decision for a Colney Hatch premises is 90 & 96 Poplar Grove in June 2013. It was held by the Tribunal that the premium to be paid for the new lease in respect of each of the flats referred should be £17,942 This case affected 2 flats. The unexpired term was 68 years.