Having been recommended your site we were about to use a conveyancing solicitor in Cowes endorsed using your search tool but stumbled across some other estimates on the internet appear less expensive – why is this?

You can find lots of conveyancers advertising what appear to be very low prices. Our recommendation is to think twice as to how much you respect your own move to you are willing to be penny wise pound foolish concerning the standard of the conveyancing. Some embed fees well inside the terms and conditions. The solicitors that we put forward for conveyancing in Cowes will notbehave this way.

I'm buying my first flat in Cowes with a mortgage from HSBC Bank. The developers refused to reduce the amount so I negotiated 6k of additionals instead. The sale representative told me not disclose to my solicitor about the extras as it would affect my loan with the lender. Do I keep my lawyer in the dark?.

All lenders require a Disclosure of Incentives Form from the developer 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 using a search engine for the words cheap conveyancing in Cowes it shows results of numerous property lawyersin the vicinity. How do I determine which is the right property lawyer for the sale of my house?

The ideal way of seeking a suitable conveyancer is via trusted referral, so enquire of colleagues and family who have bought a property in Cowes or the local estate agent or financial adviser. Fees for conveyancing in Cowes differ, so it's a good idea to obtain a minimum of four costs illustrations from different law firms. Dont forget to clarify what costs in the quote includes.

I am tempted by the attractive purchase price for a two apartments in Cowes which have approximately fifty years remaining on the leases. Will this present a problem?

There is no doubt about it. A leasehold apartment in Cowes is a deteriorating asset as a result of the shortening lease. The closer the lease gets to its expiry date, the more it adversely affects the value of the property. For most buyers and mortgage companies, leases with less than eighty years become less and less attractive. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of premises with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Cowes conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease. You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that any new terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.

I am the registered owner of a split level flat in Cowes, conveyancing formalities finalised February 1999. Can you let me have an estimated range of the fair premium for a lease extension? Similar properties in Cowes with a long lease are worth £227,000. The average or mid-range amount of ground rent is £50 invoiced every year. The lease expires on 21st October 2097

With only 72 years left to run we estimate the price of your lease extension to be between £9,500 and £11,000 as well as costs.

The figure that we have given is a general guide to costs for extending a lease, but we are not able to advice on a more accurate figure without more detailed due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There may be additional issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. Neither should you take any other action based on this information without first getting professional advice.

I am looking to buy a property and need a conveyancing solicitor in Cowes who is on the mortgage company approved panel. Could you point me in the right direction as regards a Cowes conveyancing firm?

Our service is limited to being a directory service for firms who wish to listed as being on the approved conveyancing panel for the lender who do conveyancing in Cowes. We dont recommend any particular conveyancing practice.