My fiance’s step-father is a solicitor. I suspect that I'll be able to get preferential pricing for conveyancing, However if that does not come materialise, what kind of fees would I typically be looking at for conveyancing in Hull East?
It’s sensible to seek two or three conveyancing quotes. Do use our comparison tool on this site. You will notice that prices will be different but the service one can expect differ between property lawyers as is the case with most professions.
I'm purchasing a new build house in Hull East with the aid of help to buy. The builders refused to reduce the price so I negotiated five thousand pounds worth of extras instead. The property agent advised me not reveal to my solicitor about the side-deal as it will put at risk my mortgage with the lender. Is this normal?.
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 decided to have a survey done on a house in Hull East in advance of retaining solicitors. I have been told that there is a flying freehold overhang to the property. Our surveyor advised that some banks may refuse to issue a loan on such a house.
It varies from the lender to lender. Lloyds has different instructions from Birmingham Midshires. Should you wish to telephone us we can look into this further with the appropriate mortgage company. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Hull East. Conveyancing may be slightly more expensive based on your lender's requirements.
Our conveyancer has advised that he intends to complete and exchange simultaneously on the sale of our £350,000 flat in Hull East on Wednesday in a week. The management company has quoted £384 for Landlord’s certificate, insurance certificate and 3 years statements of service charge. Is it legal for a freeholder to charge exorbitant fees for a leasehold conveyance in Hull East?
Hull East conveyancing on leasehold flats normally involves the purchaser’s lawyer sending questions for the landlord to answer. Although the landlord is under no legal obligation to address such questions most will be content to assist. They are at liberty to charge a reasonable charge for responding to enquiries or supplying documentation. There is no set fee. The average costs for the information that you are referring to is £350, in some cases it is above £800. The management information fee levied by the landlord must be accompanied by a synopsis of entitlements and obligations in relation to administration charges, otherwise the charge is not strictly payable. In reality you have little option but to pay whatever is demanded if you want to complete the sale of your home.
I bought a 2 bed flat in Hull East, conveyancing was carried out 7 years ago. Can you let me have an estimated range of the fair premium for a lease extension? Corresponding properties in Hull East with a long lease are worth £195,000. The ground rent is £45 per annum. The lease comes to an end on 21st October 2082
With 63 years unexpired the likely cost is going to span between £16,200 and £18,600 as well as legals.
The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of comprehensive investigations. You should not use this information in tribunal or court proceedings. There are no doubt additional issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. Neither should you take any other action based on this information before seeking the advice of a professional.
I dont have enough spare cash to pay a 10% deposit on my house purchase in Hull East , but I am keen proceed. What can I do?
You can agree a lower deposit. Many sellers will accept a lesser deposit or even no deposit for a first time buyer or 100% mortgage. Be aware though that if you fail to complete you will still need to hand over a minimum of 10% of the purchase price regardless of how much deposit was agreed.
You can also agree a simultaneous exchange and completion as no deposit is required for this however neither party will be tied in until completion actually takes place and it can be risky if sellers change their mind at the last moment