Just contacted my conveyancing lawyer in Long Ashton who completed the legal work two years ago requesting a conveyancing estimate based on an identical type of house move (a leasehold residence and a freehold premises) of almost identical values with a home loan from Barclays . It looks as though am now being charged twice the amount. Am I right to be tempted to shop around for an alternative property lawyer?
The costs illustration is fractionally on the steep side. If you you were to look around you might get the conveyancing a bit cheaper by perhaps £125. That being said, assuming were content with the assistance the firm provided you mightcome to regret opting for an an unknown lawyer. Remember to ensure that the conveyancer can represent Barclays . You can utilise our search tool to locate a Long Ashton conveyancing firm on the Barclays member panel, which can often include conveyancing solicitors in Long Ashton.
Our Long Ashton conveyancer has spotted a discrepancy when comparing the assumptions in the home valuation report and what is in the title deeds. My solicitor says that he is obliged to check that the lender is happy with this discrepancy and is still content to lend. Is my conveyancer’s approach correct?
Your property lawyer must comply with the UK Finance Lenders’ Handbook conditions which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for both parties.
Will my conveyancing lawyers need to check that the building insurance for my purchase of a house in Long Ashton. My lender is Platform
Platform have specific requirements as set out in the UK Finance Lenders’ Handbook. As of 23/5/2019, the requirements read as follows :
I am purchasing my first flat in Long Ashton with a loan from Nationwide Building Society. The sellers refused to move on the price so I negotiated 6k of extras instead. The property agent suggested that I not reveal to my conveyancer about this deal as it will affect my mortgage with the bank. Do I keep my lawyer in the dark?.
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’m about to sell my basement flat in Long Ashton. Conveyancing has not commenced, but I have recently received a yearly maintenance charge invoice – Do I pay up?
Your conveyancing lawyer is likely to suggest that you should clear the service charge as normal as all rents and service invoices will be allotted as part of the financial calculations for completion monies, so you will be reimbursed by the purchaser for the period running from after the completion date to the next payment date. Most managing agents will not acknowledge the buyer until the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.
I am the registered owner of a split level flat in Long Ashton, conveyancing having been completed half a dozen years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Comparable properties in Long Ashton with an extended lease are worth £216,000. The ground rent is £50 per annum. The lease ceases on 21st October 2088
With only 69 years remaining on your lease we estimate the premium for your lease extension to span between £9,500 and £11,000 plus professional fees.
The figure above a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of detailed investigations. Do not use this information in a Notice of Claim or as an informal offer. There may be additional issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information before getting professional advice.