I instructed a Fenny Stratford based firm for our conveyancing in Fenny Stratford last week. After carefully reading the official terms of business it is apparent thatwe are on the hook for costs even if the sale doesn't happen. Should I ditch them and choose an on-line firm offering no completion no charge conveyancing in Fenny Stratford?
It is usually a trade off in that if "No Sale No Fee" is offered then the fee levels will generally be more expensive to offset the conveyances that fail to complete. Do bear in mind that such arrangements rarely cover outlay for example Fenny Stratford conveyancing search expenses.
We are buying a flat and need a conveyancing solicitor in Fenny Stratford who is on the RBS solicitor panel. Could you point me in the right direction as regards a firm?
Our service is limited to being a directory service for firms who wish to be listed as being on the approved conveyancing panel for RBS . We don't recommend any particular firms conducting conveyancing in Fenny Stratford.
We have agreed to purchase a house in Fenny Stratford. An unusual aspect is that the roof has a solar panel. Santander have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
Given that your lender is Santander your lawyer must comply with the formal instructions set out in Section two of UK Finance Lenders’ Handbook for Santander. The Council of Mortgage Lenders’ Handbook includes minimum specifications for solar panel roof-space leases, and conveyancers are required to report to Santander where a lease does not meet these specifications. The specifications relate to the installation of panels on properties nationwide and is not isolated to Fenny Stratford.
It is unclear whether my mortgage offer obliges me to make sure the lease term for the flat is extended prior to the completion date. I have telephoned my Fenny Stratford bank branch on numerous occasions and was informed it wasn't a problem and they would lend. My Fenny Stratford conveyancing solicitor - who is on the bank conveyancing panel- telephoned and was told they will not lend in accordance with their published requirements. I simply don't know who is right.
Your conveyancer has to follow the CML Handbook section two specifications for your lender. Unless your lawyer obtains specific confirmation in writing that the mortgage company will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the mortgage company to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
After much negotiation I have agreed a price on a house in Fenny Stratford. My mortgage broker recommended their conveyancers. I paid an advanced payment of £175. Shortly after, the lawyer contacted me to say that they were not on the Virgin Money conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Virgin Money panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
I am on look out for some leasehold conveyancing in Fenny Stratford. Before diving in I require certainty as to the remaining lease term.
Assuming the lease is recorded at the land registry - and most are in Fenny Stratford - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
I own a split level flat in Fenny Stratford, conveyancing formalities finalised 5 years ago. Can you let me have an estimated range of the fair premium for a lease extension? Comparable flats in Fenny Stratford with over 90 years remaining are worth £181,000. The ground rent is £55 levied per year. The lease comes to an end on 21st October 2071
With only 51 years remaining on your lease the likely cost is going to span between £30,400 and £35,200 plus professional fees.
The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more comprehensive due diligence. Do not use this information in a Notice of Claim or as an informal offer. There may be other concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information before getting professional advice.
What could I expect to pay for conveyancing in Fenny Stratford?
Almost all Fenny Stratford conveyancing practices will charge a set fee. In the event that extra work becomes necessary during the conveyancing your property lawyer is obliged advise you in writing of such extra fees for such work immediately it becomes foreseeable. Some work on a no move no cost offering, others will levy an bill for a fraction of the agreed charges, depending on the point at which the deal does not proceed.
It may be helpful for you to ask a few conveyancers to supply you an estimate.