My friend's mother is a conveyancer. I hope that I will receive friends and family fee for conveyancing, However if that does not come through, what level of figure would I typically be looking at for conveyancing in Ely?
You should contrast pricing. Do use our comparison tool on this site. Whilst fees do contrast greatly but service levels do differ between solicitors as is true with most professions.
We are expecting a mortgage offer soon. The bank mentioned the home loan came with free conveyancing. Does this mean I have to use their panel lawyer as I would much rather instruct a local conveyancing solicitor in Ely?
You should check but the the likelihood is that appoint one of their panel lawyers should you accept the "fee-free" incentive. Call the lender to explore if they allow a cash alternative. Some lenders have previously offered a £250 cashback as a further option in which case that money can go towards the cost for your conveyancing solicitor in Ely.
four months have gone by following my purchase conveyancing in Ely took place. I have checked the Land Registry website which shows that I paid £175,000 when infact I paid £160,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the premises from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I'm purchasing a new build house in Ely with the aid of help to buy. The sellers would not reduce the amount so I negotiated £7000 of fixtures and fittings instead. The sale representative told me not to tell my solicitor about the deal as it would affect my mortgage with Barclays Direct. 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 a negotiator for a busy estate agency in Ely where we have experienced a few leasehold sales jeopardised due to short leases. I have received inconsistent advice from local Ely conveyancing firms. Can you shed some light as to whether the vendor of a flat can commence the lease extension formalities for the buyer?
Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser can avoid having to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, 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 purchaser.
Leasehold Conveyancing in Ely - A selection of Questions you should consider before Purchasing
Make sure you investigate if there are any onerous restrictions in the lease. By way of example it is very common in Ely leases that pets are not permitted in certain buildings in Ely. If you like the apartmentin Ely yet your dog can’t live with you then you will be presented with a hard decision. In the main the outlay for major works are not wrapped into the maintenance charges, although a few managing agents in Ely ask tenants to contribute towards a sinking fund created for the specific intention of establishing a fund for larger repairs or maintenance.