The solicitor who helped my last purchase has sent a quote for just over a thousand pound for fixed fee conveyancing in Towcester. I am hoping to downsize from a Georgian property for £275,000. Are the quoted fees excessive? Is it in excess of what I should be paying for conveyancing in Towcester?
The estimate does seem a tad overpriced. If you shop around you may be able to shave off some of the cost by perhaps a hundred pounds. On the other hand, you maylive to regret choosing an a cheaper lawyer. Don't forget to ensure the conveyancer can represent your bank. Do utilise our search tool to find a Towcester conveyancing practice on the banks member panel which can often include conveyancing solicitors in Towcester.
we are a couple who are hoping to buy a purpose built apartment in Towcester with a residential mortgage from Godiva Mortgages Ltd.We would like to retain our Towcester conveyancing lawyer but Godiva Mortgages Ltd advised that his firm is not listed on their "panel". It seems we have no choice but to instruct a Godiva Mortgages Ltd panel lawyer or retain our high street solicitor and fork out for a Godiva Mortgages Ltd panel lawyer to represent them. This seems very unfair; Can we not simply insist that Godiva Mortgages Ltd use our lawyer?
No, not really. The loan offered to you is subject to its terms and conditions, a common one being that lawyers needs to be on the Godiva Mortgages Ltd conveyancing panel. in the past, most mortgage companies had large numbers of law firms on their panels: a borrower could find one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your solicitors to apply to be on the conveyancing panel for Godiva Mortgages Ltd
Over the last few months I have been searching for a ground for flat up to £235,500 and found one round the corner in Towcester I like with amenity areas and railway links nearby, the downside is that it's only got 49 years on the lease. I can't really find anything else in Towcester for this price, so just wondered if I would be making a grave error acquiring a short lease?
Should you require a mortgage the remaining unexpired lease term will be an issue. Reduce the offer by the expected lease extension will cost if not already taken into account. If the current proprietor has owned the premises for a minimum of twenty four months you could request that they commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the existing lease and have £0 ground rent by law. You should speak to your conveyancing solicitor concerning this matter.
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At this site obtain a fixed fee quote from a Solicitor or Licensed Conveyancer that appreciates the nuances of your conveyancing in Towcester. As opposed to estate agents and brokerage sites we are not in the business of charging firms a fee if you select them for your conveyancing in Towcester
I am looking at a two flats in Towcester which have about 50 years remaining on the leases. should I be concerned?
A lease is a legal document that entitles you to use the property for a period of time. As the lease shortens the value of the lease decreases and it becomes more expensive to acquire a lease extension. For this reason it is often a good idea to extend the lease term. Sometimes it is difficult to sell a property with a short lease because mortgage companies less inclined to grant a loan on properties of this type. Lease extension can be a protracted process. We advise that you get professional assistance from a conveyancer and surveyor with experience in this field.
I am the registered owner of a studio flat in Towcester, conveyancing was carried out half a dozen years ago. Can you please calculate a probable premium for a statutory lease extension? Equivalent flats in Towcester with over 90 years remaining are worth £260,000. The ground rent is £50 charged once a year. The lease ends on 21st October 2100
With 75 years left to run the likely cost is going to span between £8,600 and £9,800 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 cannot give you a more accurate figure without more comprehensive investigations. Do not use this information in tribunal or court proceedings. There are no doubt additional issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. You should not move forward placing reliance on this information before getting professional advice.