I was recommended to a solicitor who has given a fee calculation of £1200 for no sale no fee conveyancing in Scotter. I’m looking to sell a Victorian detached home for £200,000. Is this expensive? Is it in excess of what I should be paying for conveyancing in Scotter?
The charges are a tad high. If you shop around you might reduce the fees marginally by say £125. That being said, you couldcome to regret opting for an a cheaper solicitor. If is important to enquire the conveyancer can act for your lender. Do make use of our search tool to select a Scotter conveyancing practice on the lender’s approved list of lawyers which can often include conveyancing solicitors in Scotter.
Me and my partner are about to exchange buying a property in Scotter but as a result of wreckage from the recent storms I have managed to agree reparation from the owner of £3k by way of a deduction in the price. This was going to be addressed as part of a side agreement but Leeds Building Society are not allowing this. Why were they informed?
Any lawyer that is on a Leeds Building Society approved list is duty bound to advise Leeds Building Society of any changes to the sale price. If you prohibit your property lawyer to disclose the reduction to Leeds Building Society then they would have to discontinue acting for you. In addition, Leeds Building Society and you would have to appoint a new conveyancer for your conveyancing in Scotter.
What does my ID and proof of funds have anything to do with my conveyancing in Scotter? Why is this being asked of me?
You are right in the requirement set out by your solicitor has nothing to do with conveyancing in Scotter. Nowadays you will not be able to proceed with any conveyancing transaction if you have not providing evidence of your identity. This usually takes the form of a either your passport or driving licence and a utility bill. Remember if you are providing your driving licence as proof of ID it must be both the paper section and photo card part, one is not acceptable without the other.
Evidence of the origin of funds is necessary under Money Laundering Regulations. Don’t be offended when you are asked to produce this as your lawyer will need to retain this information on file. Your Scotter conveyancing practitioner will require evidence of proof of funds before they are able to accept any funds from you into their client account and they may also ask additional questions regarding the source of monies.
Yesterday I discovered that there is a flying freehold element on a property I put an offer in two weeks back in what was supposed to be a simple, chain free conveyancing. Scotter is the location of the property. Is there any guidance you can impart?
Flying freeholds in Scotter are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Scotter you must be sure that your lawyer goes through the deeds very carefully. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Scotter may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
Can you provide any advice for leasehold conveyancing in Scotter with the aim of expediting the sale process?
- Much of the delay in leasehold conveyancing in Scotter can be avoided where you appoint lawyers the minute you market your property and request that they start to put together the leasehold information which will be required by the purchasers’ lawyers. If you have carried out any alterations to the residence would they have required Landlord’s permission? In particular have you laid down wooden flooring? Scotter leases often stipulate that internal structural alterations or installing wooden flooring calls for a licence issued by the Landlord acquiescing to such works. Should you dont have the paperwork in place do not contact the landlord without contacting your lawyer in the first instance. A minority of Scotter leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, you should place the estate agents on notice to make sure that the purchasers put in hand bank and professional references. Any bank reference should make it clear that the buyer is able to meet the annual service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the actual amount of the service charge so that they can pass this information on to the purchasers or their solicitors. You may think that you are aware of the number of years remaining on your lease but you should verify this by asking your solicitors. A purchaser's conveyancer will be unlikely to recommend their client to where the remaining number of years is under 80 years. It is therefore essential at an as soon as possible that you identify whether the lease for your property needs extending. If it does, contact your solicitors before you put your property on the market for sale.
I inherited a studio flat in Scotter, conveyancing having been completed in 2010. Can you let me have an estimated range of the fair premium for a lease extension? Similar flats in Scotter with a long lease are worth £222,000. The average or mid-range amount of ground rent is £50 charged once a year. The lease terminates on 21st October 2090
With just 71 years unexpired we estimate the premium for your lease extension to span between £9,500 and £11,000 plus professional fees.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we are not able to advice on a more accurate figure without more comprehensive due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There may be additional issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. Please do not move forward based on this information before seeking the advice of a professional.