Just been in touch with my conveyancing lawyer in Hanham who acted for me two years ago and wanted a conveyancing costs illustration based on the same type of house move (a leasehold premises and a freehold premises) of similar values with a home loan from Leeds Building Society. I am now being charged double. Better the devil I know or do I try and find a cheaper internet property lawyer?
The estimate does seem a little steep. Where you are happy to expend time scrutinising charges you might reduce the fees slightly by as much as £100 plus VAT. That being said, if you were happy with the service the firm provided you couldcome to regret opting for an a cheaper conveyancer. Remember to check the firm can also act for Leeds Building Society. You can utilise our search tool to select a Hanham conveyancing firm on the Leeds Building Society member panel, which can often include conveyancing solicitors in Hanham.
How does conveyancing in Hanham differ for newly converted properties?
Most buyers of new build property in Hanham come to us having been asked by the seller to sign contracts and commit to the purchase even before the house is ready to move into. This is because house builders in Hanham usually acquire the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Hanham or who has acted in the same development.
As co-executor for the estate of my grandfather I am disposing of a house in Neath but reside in Hanham. My lawyer (based 300 miles from mehas requested that I sign a stat dec ahead of completion. Could you suggest a conveyancing solicitor in Hanham who can witness and place their company stamp on the document?
Technically speaking you are not likely to need to have the documents attested by a conveyancing solicitor. Ordinarily any notary public or solicitor will do regardless of whether they are based in Hanham
Completion is due on our sale of a £325,000 flat in Hanham next week. The freeholder has quoted £324 for Certificate of Compliance, building insurance schedule and previous years statements of service charge. Is the landlord entitled to charge such fees for a leasehold conveyance in Hanham?
Hanham conveyancing on leasehold flats normally necessitates administration charges levied by management companies :
Addressing conveyancing due diligence enquiries
Where consent is required before sale in Hanham
Copies of the building insurance and schedule
Deeds of covenant upon sale
Registering of the assignment of the change of lessee after a sale
Leasehold Conveyancing in Hanham - Examples of Questions you should ask before Purchasing
Best to be warned if window replacement or some other significant cost is anticipated that will be shared by the leaseholders and may well dramatically impact the level of the maintenance fees or require a one time invoice. How many of the leaseholders are in arrears for their service charge payments? Where a Hanham lease has no more than 80 years it will have adverse implications on the marketability of the property. It is worth checking with your bank that they are happy with remaining years on the lease. A short lease means that you will almost definitely need a lease extension sooner rather than later and it is worth finding out what this will be. Remember, in most cases you would be required to have been the owner of the residence for a couple of years in order to be eligible to exercise a lease extension.
We own a leasehold flat in Hanham. Conveyancing was finished in 2009. I have heard that I should not let the lease length fall too low. What is the reasoning?
Hanham leasehold properties are for a fixed period - usually ninety nine years when they commenced. However many appartments in Hanham were constructed or converted 25 or more years ago and so these leases now have less than eighty years unexpired. This may seem like a long time however Banks, Building Societies and other mortgage companies on the whole require leases to have at least seventy five years left to be mortgageable. This means that when you come to sell the property you will need a lease extension if you are getting close to seventy five years. To maximise your property value you should be considering whether to extend your lease long before you come to sell it. Furthermore strong financial reasons to taking action before the lease hits 80 years as when the lease falls below eighty years the premium you have to pay to extend starts to increase.