At long last a loan offer from Nationwide for the refinancing of my 3 bedroom flat is expected within the next few days. Could you recommend a cheap conveyancing practitioner in Goffs Oak?
You are on the wrong site if you are in need of cut-price fees for conveyancing solicitors in Goffs Oak. Our intention is to offer value for money conveyancing but we do not aim to work with the cheapest lawyers. Avoid the trap of appointing brokers offering £99 conveyancing in Goffs Oak. In your best case scenario, in going for cheap conveyancing, you will end up with what you pay for and at worst you will end up paying a lot in extras and still not receive the service required.
My lawyer in Goffs Oak has never been on on the Virgin Money Approved Panel. Is it possible for me to use my prefered solicitor notwithstanding that they are not on the Virgin Money panel of approved conveyancing solicitors?
Your options are as follows:
- Complete the purchase with your existing Goffs Oak lawyers but Virgin Money will need to retain a conveyancer on their list of acceptable firms. This will result in additional overall legal fees and result in frustration.
- Get an alternative practitioner to act in the purchase, remembering to check they are on the Virgin Money panel
What is your number one tip for finding a conveyancing solicitor in Goffs Oak
It would be unwise to be tempted by the cheapest Goffs Oak conveyancing quote. You really do get what you pay for when it comes to conveyancing solicitors. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you go into the conveyancing with your eyes wide open.
Do I choose a Licenced Conveyancer or Solicitor for conveyancing in Goffs Oak?
There are many recorded licenced Conveyancers in Goffs Oak and Solicitor practices in Goffs Oak offering conveyancing We would stress that the two are regulated professionals specialising in the legal aspects of the home buying process. They may both also conduct other property legal work such as remortgage conveyancing, enfranchisement and transfer of equity conveyancing.
After months of negotiation I have agreed a price on an apartment in Goffs Oak. My financial adviser suggested a solicitor. I paid an advanced payment of £150. A couple of days later, the solicitor called me embarrassingly acknowledging that they were not on the Co-operative conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Co-operative panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
Due to the input of my in-laws I had a survey completed on a property in Goffs Oak in advance of retaining conveyancers. I have been told that there is a flying freehold overhang to the house. The surveyor advised that some lenders will refuse to issue a loan on this type of property.
It depends who your proposed lender is. Santander has different instructions from Nationwide. If you call us we can look into this further via the relevant bank. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Goffs Oak. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Goffs Oak to see if the conveyancing costs will increase in light of this.
I am tempted by the attractive purchase price for a couple of flats in Goffs Oak which have about fifty years unexpired on the lease term. Do I need to be concerned?
There is no doubt about it. A leasehold flat in Goffs Oak is a deteriorating asset as a result of the shortening lease. The closer the lease gets to its expiry date, the more it adversely affects the value of the property. For most purchasers and lenders, leases with less than 75 years become less and less attractive. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of a property with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Goffs Oak conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending the lease. You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that the agreed terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.
I inherited a leasehold flat in Goffs Oak, conveyancing formalities finalised half a dozen years ago. Can you give me give me an indication of the likely cost of a lease extension? Corresponding flats in Goffs Oak with a long lease are worth £191,000. The ground rent is £55 per annum. The lease comes to an end on 21st October 2078
With 53 years unexpired we estimate the premium for your lease extension to be between £27,600 and £31,800 plus plus your own and the landlord's "reasonable" professional fees.
The suggested premium range above a general guide to costs for extending a lease, but we cannot give you the actual costs without more detailed due diligence. You should not use this information in tribunal or court proceedings. There are no doubt additional concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information before seeking the advice of a professional.