We were about to instruct a conveyancing solicitor in Gloucestershire recommended by you but have come across alternative estimates on the internet seem less pricey – why is this?
You can find numerous websites advertising supposedly cheap conveyancing, but supplementalfees result in the closing fee mounting up beyond all recognition. According to the Legal Ombudsman charges listed in terms of engagement should be fair and reasonable raised The law firms that we put forward for conveyancing in Gloucestershire clearly state all charges for a residential conveyancing transaction.
I am buying a new build house in Gloucestershire with a mortgage from National Westminster Bank. The sellers refused to move on the price so I negotiated £7000 of additionals instead. The property agent told me not disclose to my solicitor about this deal as it may put at risk my mortgage with the lender. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the developer 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 was advised by a couple of local selling agents in Gloucestershire to choose a property lawyer on your site. Is there a financial advantage for Estate Agents to promote your services ahead of a competitor’s?
We refuse to make any financial incentive for pointing buyers and sellers our way. We thought it would be too underhand a fee because a client could think, ‘Why is the agent getting a kickback? Why aren’t I receiving any benefit too?’ So we decided to step away from that.
What advice can you give us when it comes to finding a Gloucestershire conveyancing firm to deal with our lease extension?
If you are instructing a property lawyer for your lease extension (regardless if they are a Gloucestershire conveyancing practice) it is essential that they be familiar with the legislation and specialises in this area of work. We suggest that you speak with two or three firms including non Gloucestershire conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. The following questions might be useful:
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If they are not ALEP accredited then why not? What volume of lease extensions has the firm completed in Gloucestershire in the last year?
I inherited a 2 bed flat in Gloucestershire, conveyancing formalities finalised in 2004. Can you shed any light on how much the price could be for a 90 year extension to my lease? Equivalent flats in Gloucestershire with over 90 years remaining are worth £201,000. The ground rent is £45 charged once a year. The lease ends on 21st October 2089
With 64 years remaining on your lease we estimate the premium for your lease extension to span between £14,300 and £16,400 as well as legals.
The suggested premium range that we have given is a general guide to costs for extending 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 issues that need to be considered and clearly you should be as accurate as possible in your negotiations. Neither should you take any other action based on this information without first seeking the advice of a professional.
Midway through the sale of a leasehold flat in Gloucestershire. Conveyancing is fine but we are being charged a fortune by the landlord. To date we have issued a cheque for £237 for a leasehold management pack and then another £118 for responses to questions raised by the buyers conveyancer.
Your conveyancer will unlikely have any sway over the extent of the bill for this information however the average fee for the information for Gloucestershire leasehold property is £395. For Gloucestershire conveyancing transactions it is conventional for the vendor to cover the charges. The landlord or their agents are under no statutory obligation to answer these questions although many will be willing to do so - albeit often at exorbitant prices out of proportion to the work involved. Unfortunately there is no statute that requires capped fees for administrative tasks. There is no set time frame by which they are required to provide answers.