At long last a loan agreement from Santander for the remortgage of my 3 bedroom garden flat is coming by the end of next week. Are you able to suggest a cheap conveyancing law firm in South Brent?
You have arrived at the wrong place to search for the lowest fares for conveyancing in South Brent. Our aim is to provide cost effective conveyancing but we do not work with the cheapest lawyers. Avoid the trap of appointing organisations teasing you with £100 conveyancing in South Brent. In your best case scenario, in being led by cheap conveyancing, you will get your money’s worth and at worst you will end up paying a lot in extras and still not get the service you were looking for.
We note that you have a post code search directory listing solicitors on the RBS conveyancing panel. Do companies pay you a referral fee if I instruct them for our own conveyancing in South Brent?
We are a listing service only for law firms wishing to communicate if they are on the RBS conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in South Brent.
My lawyer in South Brent has never been on on the The Royal Bank of Scotland Conveyancing Panel. Is it possible for me to use my family solicitor notwithstanding that they are excluded from the The Royal Bank of Scotland panel?
The limited options open to you here include:
- Carry on with your preferred South Brent lawyers but The Royal Bank of Scotland will need to instruct a conveyancer on their panel. This will result in additional overall legal charges and result in delays.
- Choose a new lawyer to to deal with the conveyancing, not forgetting to check they are Persuade your conveyancer to use their best endeavours to join the The Royal Bank of Scotland conveyancing panel
Over the last few months I have been searching for a flat up to £245,000 and found one close by in South Brent I like with amenity areas and transport links in the vicinity, the downside is that it only has 61 years on the lease. I can't really find anything else in South Brent suitable, so just wondered if I would be making a mistake acquiring a lease with such few years left?
If you require a mortgage the shortness of the lease will be problematic. Discount the price by the expected lease extension will cost if not already taken into account. If the current proprietor has owned the property for a minimum of 2 years you can request that they start the process of the extension and pass it to you. You can add 90 years to the current lease and have £0 ground rent by law. You should speak to your conveyancing lawyer concerning this matter.
Are there common defects that you witness in leases for South Brent properties?
There is nothing unique about leasehold conveyancing in South Brent. All leases are drafted differently and legal mistakes in the legal wording can result in certain sections are wrong. The following missing provisions could result in a defective lease:
A provision for the recovery of money spent for the benefit of another party. Maintenance charge proportions which don’t add up to the correct percentage
A defective lease will likely cause issues when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Santander, Chelsea Building Society, and Barclays Direct all have express conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is problematic they may refuse to provide security, obliging the purchaser to pull out.
I acquired a 2 bed flat in South Brent, conveyancing having been completed in 1997. Can you let me have an estimated range of the fair premium for a lease extension? Similar properties in South Brent with a long lease are worth £255,000. The ground rent is £45 yearly. The lease ends on 21st October 2092
With just 73 years remaining on your lease we estimate the price of your lease extension to be between £8,600 and £9,800 plus costs.
The figure that we have given is a general guide to costs for renewing a lease, but we are not able to provide a more accurate figure without more comprehensive due diligence. You should not use this information in tribunal or court proceedings. There may be additional concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Please do not move forward based on this information before getting professional advice.