The lawyer who helped my previous purchase has quoted £1400 for freehold conveyancing in Jesmond. I am selling a Victorian house for £225,000. Are these conveyancing fees excessive? Is it in excess of what I should be paying for conveyancing in Jesmond?
The quote is slightly on the steep side. If you shop around you may be able to get the conveyancing a bit cheaper by as much as a hundred pounds. On the other hand, you mightlive to rue opting for an an untested solicitor. Remember to ensure the conveyancer can also act for your lender. Do use our search tool to select a Jesmond conveyancing company on the banks approved list of lawyers which can often include conveyancing solicitors in Jesmond.
As a novice what is the most important piece of guidance you can give me about purchase conveyancing in Jesmond?
You may not hear this from too many lawyers but conveyancing in Jesmond and elsewhere in Tyne And Wear is often a confrontational process. In other words, when it comes to conveyancing there is lots of room for confrontation between you and other parties involved in the home moving process. E.g., the seller, selling agent and on occasion a lender. Appointing a lawyer for your conveyancing in Jesmond should not be taken lightly as your conveyancer is your adviser, and is the ONE person in the process whose role it is to act in your best interests and to keep you safe.
We are witnessing a worrying ongoing adversarial element to conveyancing- someone has to be at fault for the process being so protracted. You should always trust your solicitor ahead of the other parties in the conveyancing process.
I have been on the look out for a flat up to £235,500 and identified one round the corner in Jesmond I like with amenity areas and station in the vicinity, the downside is that it's only got 61 years unexpired on the lease. There is not much else in Jesmond in this price bracket, so just wondered if I would be making a grave error purchasing a short lease?
If you require a home loan that many years will be a potential deal breaker. Reduce the price by the expected lease extension will cost if not already taken into account. If the current owner has owned the premises for a minimum of 2 years you can request that they commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the existing lease term with a zero ground rent applied. You should consult your conveyancing lawyer about this.
Am I best advised to choose a Jesmond conveyancing lawyer based in the vicinity that I am purchasing? An old friend can conduct the conveyancing but his firm is located a couple of hundredmiles away.
The benefit of a local Jesmond conveyancing firm is that you can drop in to execute documents, deliver your ID and pester them if necessary. Having local Jesmond know how is a plus. However nothing is more important than finding someone that will do a good and efficient job. If other friends have used your friend and on the whole were impressed that should trump using an unknown Jesmond conveyancing lawyer just because they are local.
What advice can you give us when it comes to choosing a Jesmond conveyancing firm to carry out our lease extension conveyancing?
When appointing a solicitor for lease extension works (regardless if they are a Jesmond conveyancing practice) it is essential that they be familiar with the legislation and specialises in this area of work. We suggest that you speak with several firms including non Jesmond conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. The following questions might be helpful:
How familiar is the practice with lease extension legislation? If the firm is not ALEP accredited then why not?
Leasehold Conveyancing in Jesmond - Sample of Questions you should consider before buying
Most Jesmond leasehold properties will have a service bill for the upkeep of the building set on behalf of the management company. Where you buy the apartment you will have to pay this contribution, usually quarterly throughout the year. This can be anything from a couple of hundred pounds to thousands of pounds for bigger purpose-built blocks. There will also be a rentcharge for you to pay yearly, ordinarily this is not a large amount, say about £25-£75 but you should to enquire as sometimes it can be many hundreds of pounds. How much is the maintenance charge and ground rent on the apartment? How many of the leaseholders are in arrears for their maintenance charge payments?