I was referred a lawyer who has given a fee estimate £1350 for no sale no fee conveyancing in Soho. I am hoping to downsize from a modern detached home for £300,000. Is this too much? Is it above the average fee for conveyancing in Soho?
The costs illustration is slightly on the expensive side. If you are prepared to expend time comparing fee on a like for like basis you could reduce the fees slightly by perhaps £100 plus VAT. On the other hand, you couldcome to regret choosing an an unknown lawyer. If is important to check the firm can act for your lender. Do utilise our comparison tool to locate a Soho conveyancing firm on the banks conveyancing panel which can often include conveyancing solicitors in Soho.
I purchased a freehold property in Soho but nevertheless pay rent, why is this and what is this?
It is rare for properties in Soho and has limited impact for conveyancing in Soho but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges date back many centuries, but the Rent Charge Act 1977 barred the creation of fresh rentcharges post 1977.
Previous rentcharges can now be extinguished by making a one off payment under the Act. Any rentcharges that are still in existence in 2037 is to be dispensed with completely.
I'm buying my first flat in Soho with the aid of help to buy. The builders refused to budge the amount so I negotiated 6k of extras instead. The property agent advised me not disclose to my lawyer about the deal as it could jeopardize my loan with Clydesdale. 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 decided to have a survey completed on a house in Soho in advance of retaining solicitors. I have been informed that there is a flying freehold aspect to the house. My surveyor has said that some lenders tend refuse to give a mortgage on such a premises.
It depends who your proposed lender is. Santander has different instructions for example to Halifax. If you e-mail us we can check via the appropriate lender. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Soho. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Soho to see if the conveyancing will be more expensive.
My father has encouraged me to instruct his conveyancing solicitors in Soho. Do I follow his advice?
No doubt the ideal way to select a conveyancing practitioner is to get feedback from friends or relatives who have previously instructed the firm you're contemplating using.