Just contacted my conveyancing solicitor in Meir who completed the legal work two years ago and wanted a conveyancing estimate based on an identical type of house move (a leasehold residence and a freehold property) of similar values with a home loan from Nationwide Building Society. I am now being quoted twice the amount. Better the devil I know or should I seek out a cheaper internet conveyancer?
The estimate does seem a tad on the high side. If you are willing to expend time comparing charges you may be able to shave off some of the cost by say a hundred pounds. That being said, if you were pleased with the conveyancing the firm provided you couldlive to rue choosing an a cheaper conveyancer. Don't forget to check the conveyancer can also act for Nationwide Building Society. You can make use of our search tool to choose a Meir conveyancing firm on the Nationwide Building Society approved list of lawyers, which can often include conveyancing solicitors in Meir.
My wife and I are approaching an exchange on a house in Meir and my mum and dad have sent the 10% deposit to my property lawyer. I am now told that as the deposit has been sent from someone other than me my property lawyer needs to make a notification to my bank. Apparently, in also acting for the lender he must inform them that the balance of the purchase price is not just from me. I advised the lender concerning my parents' contribution when I applied for the mortgage, so is it really necessary for him to raise this?
Your solicitor is legally required to check 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 notify this to your lender if you agree, failing which, your lawyer must cease to continue acting.
Why is leasehold purchase conveyancing in Meir costs more?
In short, leasehold conveyancing in Meir and Staffordshire usually requires additional work compared to freehold transactions. This includes checking the lease terms, communicating with the landlord concerning serving appropriate notices, securing current service charge and management information, procuring the landlord’s consents and reviewing management accounts. The obligations on both the landlord and the tenant in the lease need to be studied by the buyer’s conveyancing team and read from beginning to end – regardless of the fact the lease has passed through many different property solicitors hands since it was first granted.
Should my solicitor be raising questions about flooding as part of the conveyancing in Meir.
Flooding is a growing risk for conveyancers dealing with homes in Meir. Some people will buy a house in Meir, completely aware that at some time, it may suffer from flooding. However, leaving to one side the physical destruction, where a property is at risk of flooding, it may be difficult to obtain a mortgage, adequate insurance cover, or sell the premises. Steps can be carried out during the course of a property purchase to forewarn the buyer.
Conveyancers are not best placed to impart advice on flood risk, but there are a various checks that can be carried out by the purchaser or on a buyer’s behalf which can give them a better appreciation of the risks in Meir. The standard information sent to a purchaser’s solicitor (where the Conveyancing Protocol is adopted) contains a standard question of the seller to determine whether the premises has suffered from flooding. If flooding has previously occurred which is not disclosed by the seller, then a purchaser may issue a legal claim for losses as a result of such an inaccurate answer. The purchaser’s solicitors may also order an environmental report. This should higlight whether there is a recorded flood risk. If so, further investigations will need to be made.
I am looking for a ground for flat up to £195,000 and found one round the corner in Meir I like with amenity areas and transport links nearby, however it only has 52 years on the lease. There is not much else in Meir suitable, so just wondered if I would be making a mistake purchasing a short lease?
If you require a home loan that many years will be an issue. Reduce the price 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 2 years you may request that they commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the current lease term and have £0 ground rent by law. You should speak to your conveyancing lawyer regarding this.