Recently been in touch with my conveyancing lawyer in Seaburn who completed the legal work 18 months ago asking for a conveyancing quote based on an identical type of home move (a leasehold property and a freehold premises) of almost identical values with a loan from Skipton Building Society. I am now being quoted double. Should I hunt for an alternative property lawyer?
The estimate fees are a tad high. If you are happy to expend time contrasting costs you could reduce the fees marginally by as much as £100 plus VAT. On the other hand, assuming were satisfied with the legal work the firm provided you mightlive to regret opting for an an unknown lawyer. If is important to enquire the firm can represent Skipton Building Society. You can make use of our search tool to select a Seaburn conveyancing firm on the Skipton Building Society conveyancing panel, which can often include conveyancing solicitors in Seaburn.
My property lawyer in Seaburn is not on the National Westminster Bank Approved Panel. Can I still retain my prefered solicitor even though they are not on the National Westminster Bank panel of approved conveyancing solicitors?
Your options are as follows:
- Carry on with your existing Seaburn solicitors but National Westminster Bank will need to use a solicitor on their list of acceptable firms. This will result in additional total conveyancing charges and cause frustration.
- Get a new solicitor to to deal with the conveyancing, obviously checking they are on the National Westminster Bank panel
How does conveyancing in Seaburn differ for newly converted properties?
Most buyers of new build premises in Seaburn contact us having been asked by the seller to exchange contracts and commit to the purchase even before the premises is finished. This is because developers in Seaburn typically buy the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Seaburn or who has acted in the same development.
I am using a search engine for the phrase conveyancing in Seaburn it shows results of numerous solicitorsin the area. How do I determine which is the suitable solicitor for purchase transaction?
The ideal method of choosing the right conveyancer is through a trusted recommendation, so enquire of colleagues and family who have acquired a property in Seaburn or a reputable estate agent or mortgage broker. Fees for conveyancing in Seaburn vary, so it's a good idea to request a minimum of four estimates from varying types of conveyancers. Make sure that you know what costs in the quote includes.
We own a leasehold flat in Seaburn. Conveyancing was finished in five years ago. I have read on numerous consumer forums that I should not allow the the remaining lease term to get too low. Is this correct?
Seaburn domestic long term leases are for a fixed term - often just under one hundred years when they started. However many flats in Seaburn were built or converted in the 70’s80’s and so these leases now have under 80 years unexpired. That may sound like plenty of time but Banks, Building Societies and other mortgage companies tend to need leases to have a minimum of seventy five years left to adequate security. This means that when you come to sell the property you will need to extend the term of your lease if you are getting close to seventy five years. To maximise your property value you should be considering whether to extend your lease well in advance of selling the property. Please note that there are significant benefits to doing so before the lease hits 80 years as when the lease falls below 80 years the premium to be paid to extend starts to increase.