I was recommended to a lawyer who has quoted £1150 for fixed fee conveyancing in Parkstone. I’m hoping to downsize from a Georgian house for £300,000. Are the quoted fees excessive? Is it in excess of the average fee for conveyancing in Parkstone?
The estimate does seem marginally steep. If you shop around you could get the conveyancing a bit cheaper by perhaps £100 plus VAT. On the other hand, you mightlive to rue choosing an an untested solicitor. Don't forget to ensure the firm can act for your bank. Do make use of our comparison tool to locate a Parkstone conveyancing practice on the banks approved list of lawyers which can often include conveyancing solicitors in Parkstone.
I am told that my conveyancing solicitors will need to check that the building insurance for my purchase of a house in Parkstone. My lender is Virgin
Virgin have specific requirements as set out in the UK Finance Lenders’ Handbook. As of 22/7/2021, the requirements read as follows :
I am purchasing a new build house in Parkstone with the aid of help to buy. The builders refused to reduce the price so I negotiated £7000 of extras instead. The sale representative suggested that I not to tell my solicitor about the extras as it could put at risk my mortgage with the bank. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the builder 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 am on look out for some leasehold conveyancing in Parkstone. Before diving in I want to be sure as to the unexpired term of the lease.
If the lease is recorded at the land registry - and most are in Parkstone - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
I bought a split level flat in Parkstone, conveyancing was carried out 7 years ago. Can you give me give me an indication of the likely cost of a lease extension? Corresponding properties in Parkstone with an extended lease are worth £265,000. The ground rent is £50 yearly. The lease ends on 21st October 2096
You have 75 years left to run the likely cost is going to range between £8,600 and £9,800 as well as costs.
The figure above a general guide to costs for extending a lease, but we are not able to advice on the actual costs in the absence of comprehensive investigations. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information without first seeking the advice of a professional.
Why do I have to send my conveyancing practitioner with various items of ID ahead of starting my conveyancing in Parkstone?
Parkstone conveyancers are duty bound by the Law Society, SRA, HM Land Registry and current AML Regulations to certify that the have verified the identity of their clients. It is also sometimes a condition of your mortgage offer. Furthermore they have to complete various forms, particularly those relating to Land Tax and need to have details such as your full names, NI number and date of birth.