We were about to retain a conveyancing solicitor in Streetly found using your search tool but have come across alternative fee calculations on the internet seem less expensive – why is this?
You can find numerous solicitors marketing theoretically looks to be cut price. We suggest that you give due consideration as to how important this transaction is to you that you are willing to be penny wise pound foolish over the quality of the conveyancing. Many of them list a low quote as a headline but bury additional costs in the small print..
We see that you have a post code search directory identifying law firms on the Lloyds conveyancing panel. Do companies pay you a commission if I instruct them for our own conveyancing in Streetly?
We are a listing service only for law firms wishing to communicate if they are on the Lloyds conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Streetly.
I am considering applying for a Virgin Money mortgage for purchase of a newly converted (under development) in Streetly with 60% loan to value. Is it compulsory to choose a solicitor on the conveyancing panel for Virgin Money ?
There is nothing to stop you using your solicitor, but Virgin Money will insist on their interests being represented by a firm on their conveyancing panel. There is much more potential for delays and confusion with an additional lawyer added to the mix, and it will undoubtedly be more expensive too.
My bid for a property was accepted at auction in Streetly. Conveyancing is necessary. What is next?
Now that you are legally committed yourself to purchase you will need to choose a conveyancing solicitor as a matter of priority as you are facing a pending a drop dead date to complete the transaction. An auction property should have an associated legal set of papers. This will include the copy title deeds, local authority and drainage searches. In the case of leasehold property the auction papers should contain a copy of the lease, management information and a sellers leasehold information form and associated conveyancing paperwork relating to leasehold premises. You must give this to the solicitor working for you as soon as possible. Do make sure that you have funds in order to complete on the date specified in the contract.
We are getting a further advance on our home loan from Barclays as we wish to carry out renovations to our property in Streetly. Are we obliged to choose a high street Streetly solicitor on the Barclays conveyancing panel to deal with the legals?
Barclays would not normally appoint a member of their approved list of lawyers to handle the formalities. If they do require any legal work then you would need to ensure that such a lawyer was on the Barclays conveyancing panel.
I've digested plenty of house buying guides, I note that it is considered advisable to get your house surveyed prior to buying it. When I asked my local Streetly solicitor - who is on the Barclays conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. Is that normal?
Barclays will need an independent valuation of the property. Your lawyer will not arrange this. Usually Barclays will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. You may wish to consider appointing your own Streetly surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
I today plan to offer on a house that appears to be perfect, at a great figure which is making it more attractive. I have just discovered that the title is leasehold rather than freehold. I am assuming that there are particular concerns buying a leasehold house in Streetly. Conveyancing lawyers have not yet been instructed. Will they explain the issues?
Most houses in Streetly are freehold and not leasehold. This is one of the situations where having a local solicitor who is familiar with the area who can assist with the conveyancing process. It is clear that you are buying in Streetly in which case you should be looking for a Streetly conveyancing solicitor and check that they have experience in advising on leasehold houses. As a matter of priority you will need to check the number of years remaining. As a tenant you will not be entirely free to do whatever you want to the property. The lease comes with conditions for example obtaining the landlord’spermission to carry out changes to the property. It may be necessary to pay a service charge towards the maintenance of the estate where the property is part of an estate. Your conveyancer should appraise you on the various issues.
I acquired a basement flat in Streetly, conveyancing having been completed November 2002. How much will my lease extension cost? Similar flats in Streetly with over 90 years remaining are worth £227,000. The ground rent is £50 invoiced annually. The lease finishes on 21st October 2091
With just 72 years unexpired we estimate the price of your lease extension to span between £9,500 and £11,000 as well as plus your own and the landlord's "reasonable" 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 provide a more accurate figure without more comprehensive investigations. You should not use this information in tribunal or court proceedings. There are no doubt additional concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information without first seeking the advice of a professional.