My family solicitor has given a fee estimate £1700 for leasehold conveyancing in Deepcar. I’m looking to sell a modern house for £300,000. Are these conveyancing fees excessive? Is it in excess of the norm for conveyancing in Deepcar?
The charges are a tad high. If you are content to expend time comparing quotes you may be able to reduce the fees slightly by say £125. That being said, you couldlive to regret choosing an a cheaper conveyancer. If is important to check that the solicitor can act for your lender. You can make use of our search tool to locate a Deepcar conveyancing company on the banks member panel which can often include conveyancing solicitors in Deepcar.
Our Deepcar lawyer has identified a difference when comparing the information in the valuation report and what is in the legal papers for the property. My lawyer informs me that he is duty bound to check that the bank is happy with this discrepancy and is still content to lend. Is my conveyancer’s stance legitimate?
Your conveyancer must comply with the UK Finance Lenders’ Handbook requirements which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.
Various online forums that I have visited warn that are the main cause of stalling in Deepcar conveyancing transactions. Is that correct?
The Council of Property Search Organisations (CoPSO) published determinations of a review by MoveWithUs that conveyancing searches do not feature within the most frequent causes of delays in the conveyancing process. Searches are unlikely to feature in any delay in conveyancing in Deepcar.
I am looking for a leasehold apartment up to £235,500 and found one close by in Deepcar I like with open areas and station nearby, however it's only got 49 years unexpired on the lease. There is not much else in Deepcar suitable, so just wondered if I would be making a grave error acquiring a short lease?
If you require a mortgage the shortness of the lease may be an issue. Discount the offer by the expected lease extension will cost if not already taken into account. If the existing owner has owned the premises for at least 2 years you could ask them to commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the existing lease term with a zero ground rent applied. You should speak to your conveyancing solicitor about this.
I have recently realised that I have 68 years left on my lease in Deepcar. I now want to extend my lease but my landlord is can not be found. What options are available to me?
On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be extended by the magistrate. However, you will be required to demonstrate that you have done all that could be expected to locate the freeholder. In some cases a specialist may be useful to conduct investigations and prepare an expert document which can be accepted by the court as evidence that the freeholder is indeed missing. It is wise to seek advice from a property lawyer both on devolving into the landlord’s disappearance and the application to the County Court overseeing Deepcar.
I purchased a leasehold flat in Deepcar, conveyancing formalities finalised 6 years ago. Can you work out an approximate cost of a lease extension? Comparable flats in Deepcar with an extended lease are worth £265,000. The ground rent is £50 invoiced every year. The lease runs out on 21st October 2102
You have 76 years remaining on your lease we estimate the price of your lease extension to span between £8,600 and £9,800 as well as costs.
The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of comprehensive due diligence. Do not use this information in a Notice of Claim or as an informal offer. There may be additional concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Please do not take any other action based on this information before getting professional advice.