My friend's sister is a solicitor. I expect that I will receive mate’s rates for conveyancing, However if that does not come materialise, what kind of fees should I be paying for conveyancing in Leven?
Do compare pricing. Do use our search tool on this site. Whilst fees seem to contrast greatly but service levels do are distinct between law firms as is true with most professions.
My fiance and I changing mortgage lender for our apartment in Leven with Kent Reliance. We have a son 18 who lives at home. Our solicitor has asked us to disclose any adults other than ourselves who lives in the flat. Our lawyer has now e-mailed a document for our son to sign, giving up any rights in the event that the apartment is forfeited by the lender. I have a couple of questions (1) Is this document specific to the Kent Reliance conveyancing panel as he did not need to sign this form when we remortgaged 4 years ago (2) Does our son by signing this extinguish his rights to inherit the property?
On the face of it your lawyer has done nothing wrong as it is established procedure for any occupier who is aged 17 or over to sign the necessary Consent Form, which is purely to state that any rights he has in the property are postponed and secondary to Kent Reliance. This is solely used to protect Kent Reliance if the property were re-possessed so that in such circumstances, your son would be legally obliged to leave. It does not impact your son’s right to inherit the apartment. Please note that if your son were to inherit and the mortgage in favour of Kent Reliance had not been discharged, he would be liable to take over the loan or pay it off, but other than that, there is nothing stopping him from keeping the property in accordance with your will or the rules of intestacy.
How does conveyancing in Leven differ for new build properties?
Most buyers of new build property in Leven approach us having been asked by the builder to exchange contracts and commit to the purchase even before the house is finished. This is because house builders in Leven usually acquire the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Leven or who has acted in the same development.
Due to the input of my in-laws I had a survey completed on a property in Leven before retaining conveyancers. I have been advised that there is a flying freehold element to the property. My surveyor advised that some banks tend refuse to issue a loan on such a property.
It depends who your proposed lender is. HSBC has different instructions for example to Birmingham Midshires. Should you wish to telephone us we can check via the appropriate bank. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Leven. Conveyancing may be slightly more expensive based on your lender's requirements.
What advice can you give us when it comes to choosing a Leven conveyancing practice to deal with our lease extension?
When appointing a conveyancer for lease extension works (regardless if they are a Leven conveyancing firm) it is most important that he or she should be familiar with the legislation and specialises in this area of work. We suggest that you talk with two or three firms including non Leven conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. The following questions could be useful:
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What volume of lease extensions has the firm completed in Leven in the last twenty four months? How experienced is the practice with lease extension legislation?
I own a studio flat in Leven, 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 properties in Leven with a long lease are worth £180,000. The average or mid-range amount of ground rent is £65 charged once a year. The lease ends on 21st October 2082
With just 58 years remaining on your lease we estimate the price of your lease extension to span between £22,800 and £26,400 as well as legals.
The figure that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of detailed due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There may be other issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Please do not take any other action based on this information before getting professional advice.