Solicitors quote so high

Twiglet12

We paid more than this for our SO conveyancing. Beware - our solicitors bill was almost £1000 more than originally quoted as they hadn't realised we'd have to pay stamp duty on the rent we're paying on the portion we don't own, so check your tax liability carefully.

nubbins

I used RMNJ recently, they were pretty good and very cheap but not sure if they deal with shard ownership, ring them. Or try the link below for a list of cheapies...

http://www.reallymoving.com/

rexmedorum

If it includes stamp duty it will seem really high obviously, so check if it does.

kinger101

It sounds a bit pricey, but leasehold and shared ownership will add a bit more compared to freehold normal ownership. I'd wouldn't use anyone my vendor's EA recommends.

RichardTheComic

The total value of the flat 100% is only £76,000 so no stamp duty payable I believe. I understand that the leasehold and shared ownership adds to the complexity, and so cost.

Thanks for all the help guys

Really appreciated.

RichardTheComic

I'll try RMNJ thanks @ nubbins

RichardTheComic

Urgh! Things just get to complicated. Doing a bit of research, the flat my partner wants to purchase (25% shared ownership) only has 72 years remaining on the lease. Although this is probably fine for mortgage purposes, it's concerning me. Why would the housing association let their lease run down past 80 years? is this really a big deal, or am I have a sleepless night for no reason?

RichardTheComic

Sorry for bumping, this is just a bit confusing for me
There's 72 and a half years remaining on the flat. I know that where the lease is less than 70 years, mortgage finance becomes harder to find. Some of the neighbouring flats have extended their leases. However as the underlease (as the housing association has the headlease) my partner wouldn't have a statutory right to extend the lease, and it would need to be the housing association as the headlease who did this. I'm just a bit puzzled that there's not standard procedures in place (can't find anything online) as shared ownership has been around since 1980s, and the registered provider isn't always the freeholder in the case of flats. I've asked the estate agent to clarify...

Annie1960

slopemaster wrote: »

e-mail 3 or 4 local solicitors asking for prices.
then judge not only on price, but on promptness and completeness of reply.

I did this with the first solicitor I tried to use for my sale and purchase recently. He was very prompt to reply and gave all details. However, he was hopeless at the job, to the extent where my vendor then refused to continue with the sale to me as the solicitor would not communicate with their EA or solicitor.

I then got another solicitor who was much more expensive, but very highly respected by everyone locally, and she managed to rescue my purchase.

So, going on promptness and completeness of reply did not work for me. It would have helped if I had also gone a google search for reviews for the first solicitor, as he had terrible reviews. So, when you have a shortlist, also do an online search for reviews before you commit.