My previous solicitor has given a fee calculation of £1400 for no sale no fee conveyancing in Ilkeston. I am selling a newly refurbished detached home for £175,000. Is this expensive? Is it above what I should be paying for conveyancing in Ilkeston?
The estimate does seem a tad overpriced. If you shop around you may be able to reduce the fees slightly by say £125. On the other hand, you mightcome to rue opting for an a cheaper solicitor. Remember to ensure the conveyancer can represent your bank. Do employ our search tool to find a Ilkeston conveyancing firm on the lender’s member panel which can often include conveyancing solicitors in Ilkeston.
My husband and I are nearing an exchange on a flat in Ilkeston and my parents have sent the exchange deposit to my solicitor. I am now advised that as the deposit has been received from someone other than me my lawyer needs to make a notification to my lender. I am advised that, in also acting for the lender he must advise them that the balance of the purchase price is coming from anyone other than me. I disclosed to the bank regarding my parents' contribution when I applied for the mortgage, so is it really appropriate for him to raise this?
The conveyancer is duty bound to clarify with lender to make sure that they understand that the balance of the purchase price is not from your own resources. Your solicitor can only reveal this to your bank if you permit them to, failing which, your lawyer must cease to continue acting.
Over the last few months I have been searching for a leasehold apartment up to £195,000 and found one near me in Ilkeston I like with open areas and transport links nearby, the downside is that it's only got 51 years unexpired on the lease. There is not much else in Ilkeston in this price bracket, so just wondered if I would be making a mistake purchasing a short lease?
Should you require a home loan the shortness of the lease may be problematic. Reduce the offer by the expected lease extension will cost if it has not already been discounted. If the current owner has owned the property for at least twenty four months you can request that they commence the lease extension formalities and then assign it to you. You can add 90 years to the existing lease term and have £0 ground rent by law. You should speak to your conveyancing lawyer concerning this matter.
I need to instruct a conveyancing solicitor in Ilkeston for my remortgage. Can I review a firm’s complaints history with the profession’s regulator?
One may read published Solicitor Regulator Association (SRA) decisions arising from investigations commenced on or after 1 January 2008. Go to Check a solicitor's record. To find records about the period before 1 January 2008, or to check a solicitors record, telephone 0870 606 2555, 08.00 - 18.00 Monday, Wednesday, Thursday, Friday and 09.30 - 18.00 Tuesday. International callers, call +44 (0)121 329 6800. The regulator may monitor telephone calls for training reasons.
I've recently bought a leasehold flat in Ilkeston. Am I liable to pay service charges for periods before completion of my purchase?
In a situation where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
Ilkeston Conveyancing for Leasehold Flats - Examples of Queries before Purchasing
The prefered form of lease arrangement is if the freehold reversion is in the ownership of the leaseholders. In this arrangement the leaseholders benefit from being in charge if their destiny and notwithstanding that a managing agent is frequently retained where it is larger than a house conversion, the managing agent is directed by the tenants. Who is in charge of the building? How long is the Lease?