The lawyer who dealt with my former purchase has given a fee calculation of £1700 for freehold conveyancing in Gotham. I am hoping to downsize from a Georgian property for £200,000. Are these conveyancing fees excessive? Is it in excess of what I should be paying for conveyancing in Gotham?
The estimate does seem marginally steep. If you are prepared to spend time contrasting prices you may be able to trim some of the expense by say £100 plus VAT. That being said, you couldcome to rue choosing an a cheaper lawyer. Don't forget to be sure that the firm can act for your mortgage company. You can use our search tool to get a quote a Gotham conveyancing firm on the banks approved list of lawyers which can often include conveyancing solicitors in Gotham.
The Gotham conveyancing firm handling our Gotham conveyancing has identified an inconsistency when comparing the assumptions in the home valuation report and what is in the legal papers for the property. My solicitor has advised that he needs to ensure that the lender is OK with this discrepancy and is still content to lend. Is my conveyancer’s stance correct?
Your conveyancer must comply with the UK Finance Lenders’ Handbook conditions which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.
I have been told that property searches are the primary cause of stalling in Gotham conveyancing transactions. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) published determinations of research by MoveWithUs that conveyancing searches do not figure within the top 10 causes of delays in the conveyancing process. Local searches are unlikely to feature in any delay in conveyancing in Gotham.
I have a renovated Georgian house in Gotham. Conveyancing lawyer represented me and The Mortgage Works. I happened to do a free search for it on the Land Registry database and there are a couple of entries: the first freehold, the second leasehold under the exact same property. I'd like to know for sure, how can I find out??
You should read the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Gotham and other areas of the country and poses no real issues for owners other than when they mortgage they have to account for both freehold and leasehold interests when dealing with lenders. You can also question the situation with the conveyancing solicitor who conducted the purchase.
I have been on the look out for a ground for flat up to £195,000 and identified one round the corner in Gotham I like with amenity areas and station in the vicinity, however it's only got 61 years on the lease. I can't really find anything else in Gotham for this price, so just wondered if I would be making a mistake purchasing a short lease?
Should you need a mortgage the remaining unexpired lease term will likely be problematic. Reduce the offer by the amount the lease extension will cost if it has not already been discounted. If the current owner has owned the property for a minimum of twenty four months you can ask them to commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the current lease term with a zero ground rent applied. You should consult your conveyancing lawyer regarding this.