We opted for a local solicitor for our conveyancing in Lee On The Solent last week. Upon checking the Terms and Conditions it is apparent thatwe are responsible for costs even where the transaction does not complete. Should I ditch them and instruct a web based solicitor practice advertising no-sale-no-fee conveyancing in Lee On The Solent?
It is usually ‘give and take’ in that if "No Sale No Fee" is offered then the conveyancing charges will tend to be be more expensive to neutralise those conveyances that do not go ahead. Also remember that such deals tend not to protect you from outlay such as Lee On The Solent conveyancing search fees.
Is it realistic for conveyancing in Lee On The Solent to be done within 3 weeks?
In the event that you are under pressure for your conveyancing it is advisable to make sure that your solicitor is familiar with the location as they will benefit local relationships and know-how. It is even conceivable that they could have handled previoushouses in the same street. You would be best advised to use a Lee On The Solent conveyancing firm. Second, check that the conveyancing firm is on the on the approved list for your mortgage company. It is estimated that nearly one in five of Lee On The Solent conveyancing transactions are delayed or jeopardised after finding out that a purchaser’s conveyancer was not on their mortgage lender’s member panel. This can often result in the buying process being held up by as much as three weeks. It is said that this issue impacts approximately one hundred thousand home sales annually. Almost all Lee On The Solent conveyancing firms can not act for certain mortgage companies so do check as early as possible.
I opted to have a survey done on a property in Lee On The Solent before appointing lawyers. I have been advised that there is a flying freehold aspect to the property. My surveyor has said that some lenders may not issue a mortgage on this type of home.
It depends who your proposed lender is. Lloyds has different requirements for example to Birmingham Midshires. If you e-mail us we can check with the appropriate mortgage company. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Lee On The Solent. Conveyancing will be smoother if you use a solicitor in Lee On The Solent especially if they regularly deal with such properties in Lee On The Solent.
I need to retain a conveyancing solicitor for sale conveyancing in Lee On The Solent. I've chance upon a site which appears to be the perfect offering If there is a chance to get all the legals done via email that would be ideal. Should I be wary? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
I've recently bought a leasehold property in Lee On The Solent. Am I liable to pay service charges for periods before completion of my purchase?
Where the service charge has already been demanded from the previous owner 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 ensure 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).
I own a leasehold flat in Lee On The Solent, conveyancing was carried out 7 years ago. How much will my lease extension cost? Similar properties in Lee On The Solent with over 90 years remaining are worth £180,000. The average or mid-range amount of ground rent is £65 invoiced every year. The lease runs out on 21st October 2077
With just 58 years remaining on your lease the likely cost is going to span between £22,800 and £26,400 as well as costs.
The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more detailed investigations. Do not use this information in a Notice of Claim or as an informal offer. There may be other concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information without first seeking the advice of a professional.