Our family lawyer has quoted £1350 for no completion no fee conveyancing in Kegworth. I am hoping to downsize from a Edwardian detached home for £125,000. Is this expensive? Is it above what I should be paying for conveyancing in Kegworth?
The estimate does seem marginally steep. If you are happy to spend time comparing costs you may be able to shave off some of the expense by perhaps a hundred pounds. On the other hand, you couldlive to regret choosing an a cheaper solicitor. Remember to be sure that the solicitor can act for your lender. Do make use of our comparison tool to choose a Kegworth conveyancing firm on the lender’s approved list of lawyers which can often include conveyancing solicitors in Kegworth.
What happens if my solicitor is suspended from the UBS Conveyancing panel ahead of completing my conveyancing in Kegworth?
The first thing to point out is that, this is very unlikely to happen. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit at a cost.
Various web forums that I have visited warn that are the primary cause of delay in Kegworth conveyancing transactions. Is this right?
The Council of Property Search Organisations (CoPSO) published determinations of a review by MoveWithUs that conveyancing searches do not feature within the top 10 causes of delays during the legal transfer of property. Local searches are not likely to feature in any slowing down conveyancing in Kegworth.
I used Stirling Law several years ago for my conveyancing in Kegworth. Now, I need the documents but cannot find the solicitor. What do I do?
You should contact the Solicitors Regulatory Authority (SRA) to help locate your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Kegworth of the conveyancing firm of solicitors you previously used, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
I work for a busy estate agent office in Kegworth where we have witnessed a number of flat sales jeopardised due to leases having less than 80 years remaining. I have been given conflicting advice from local Kegworth conveyancing solicitors. Could you clarify whether the owner of a flat can commence the lease extension formalities for the purchaser on completion of the sale?
As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser can avoid having to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or at the same time as completion of the disposal of the property.
An alternative approach is to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.
I inherited a ground floor flat in Kegworth, conveyancing formalities finalised half a dozen years ago. How much will my lease extension cost? Similar flats in Kegworth with an extended lease are worth £260,000. The ground rent is £45 levied per year. The lease ends on 21st October 2099
With just 74 years remaining on your lease the likely cost is going to be between £8,600 and £9,800 as well as plus your own and the landlord's "reasonable" professional fees.
The figure above a general guide to costs for renewing a lease, but we cannot give you the actual costs in the absence of detailed due diligence. You should not use the figures in tribunal or court proceedings. There may be additional issues that need to be considered and clearly you should be as accurate as possible in your negotiations. Please do not take any other action based on this information without first getting professional advice.