Recently contacted my conveyancing lawyer in Fairwater who acted for me 18 months ago asking for a conveyancing estimate based on the same type of house move (a leasehold property and a freehold premises) of similar values with a mortgage from Santander. I am now being quoted double. Should I look for an alternative conveyancer?
The quote is slightly on the steep side. If you are prepared to invest time comparing costs you may be able to trim some of the cost by perhaps a hundred pounds. That being said, if you were content with the assistance the firm offered you mightcome to regret opting for an a cheaper lawyer. Don't forget to enquire the solicitor can also act for Santander. Do utilise our search tool to find a Fairwater conveyancing firm on the Santander approved list of lawyers, which can often include conveyancing solicitors in Fairwater.
Are the Fairwater conveyancing solicitors identified as being on the Leeds Building Society conveyancing panel, together with their details provided by Leeds Building Society?
Fairwater conveyancing firms themselves provide us confirmation that they are on the Leeds Building Society conveyancing panel as opposed to being supplied with a list from Leeds Building Society directly.
Various web forums that I have come across warn that are the primary cause of delay in Fairwater house deals. Is that correct?
The Council of Property Search Organisations (CoPSO) published conclusions of a review by MoveWithUs that conveyancing searches do not feature amongst the common causes of delays during the legal transfer of property. Local searches are not likely to feature in any holding up conveyancing in Fairwater.
The deeds to my property can not be found. The solicitors who handled the conveyancing in Fairwater 10 years ago are no longer around. What are my next steps?
These day there are copies made of almost everything, and your solicitor will know exactly where to locate all the relevant documentation so you may buy or sell your house without a hitch. Where copies are not available, your conveyancer may be able to arrange cover in the form of insurance or indemnities protecting you against possible claims on the property.
I am looking at a two apartments in Fairwater which have about 50 years unexpired on the lease term. Should I regard a short lease as a deal breaker?
A lease is a right to use the premises for a prescribed time frame. As the lease shortens the value of the lease deteriorates and it becomes more expensive to extend the lease. This is why it is advisable to increase the term of the lease. It is often difficulties arise selling premises with a short lease as mortgage lenders less inclined to grant a loan on such properties. Lease enfranchisement can be a difficult process. We recommend you seek professional assistance from a solicitor and surveyor with experience in this arena.
I inherited a 1st floor flat in Fairwater, conveyancing having been completed in 2001. 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? Comparable properties in Fairwater with over 90 years remaining are worth £265,000. The ground rent is £50 charged once a year. The lease ceases on 21st October 2098
With just 76 years unexpired we estimate the price of your lease extension to span between £8,600 and £9,800 plus legals.
The figure that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of comprehensive due diligence. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information without first seeking the advice of a professional.