We are expecting a mortgage offer soon. The lender mentioned the loan came with free conveyancing. Is the implication that I have to instruct their panel conveyancer as I would prefer to appoint a local conveyancing solicitor in Ravensthorpe?
You should check but the chances are that appoint one of their panel solicitors should you want the "fee-free" offer. Speak to the bank to determine if they offer you a cash alternative. Some banks have previously offered a £250 cashback as an alternative in which case you could put that amount towards your preferred conveyancing solicitor in Ravensthorpe.
This question may be naive but I am new to the home buying as a first time purchaser of a ground floor flat in Ravensthorpe. Do I receive the keys to the house on completion from my conveyancer? If this is the case, I will instruct a High Street conveyancing solicitor in Ravensthorpe?
There is no need to visit the lawyers office on the day of completion. Your solicitors will arrange to send the completion advance to the seller's solicitors, and shortly after the monies have arrived, you will be able to collect the keys from the Estate Agents and start moving into the property. Usually this occurs between 1 and 3pm.
My solicitor has informed me that lack of building regulations insurance is necessary on my purchase. What is the level of cover for Ravensthorpe conveyancing?
The right level of lack of building regulations indemnity insurance depends on your lender. It would differ for example between Accord Mortgages Ltd and Norwich and Peterborough Building Society. Conveyancing practitioners as opposed to members of the public take out such policies.
I can not work out if my bank requires a lease extension. I have called into my local Ravensthorpe bank branch on numerous occasions and was informed it wasn't a problem and they would lend. My Ravensthorpe conveyancing solicitor - who is on the bank conveyancing panel- called and was told they refuse to lend in accordance with their published requirements. Who do I believe?
Your conveyancer must comply with the CML Handbook Part 2 requirements for your bank. Unless your lawyer obtains specific confirmation in writing that the bank will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the mortgage company to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
I am close to exchanging contracts on the sale of our property in Ravensthorpe and according to the buyers it appears that there is a risk of it being built on contaminated land. A high street Ravensthorpe conveyancer would know that there is no such problem. For the life of me I don't know why the buyers instructed a nationwide conveyancing outfit as opposed to a conveyancing solicitor in Ravensthorpe. Having lived in Ravensthorpe for 4 years we know that this is a non issue. Is it a good idea to get in touch with our local Authority to get clarification that there is no issue.
It would appear that you have a conveyancing lawyer currently acting for you. Are they able to advise? You need to enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same ailment)
I have recentlybecome aware that Stirling Law have closed. They conducted my conveyancing in Ravensthorpe for a purchase of a leasehold apartment 10 months ago. How can I check that the property is registered correctly in the name of the previous owner?
The easiest way to see if the premises is in your name, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Ravensthorpe conveyancing specialists.
My father has suggested that I appoint his conveyancers in Ravensthorpe. Should I use them?
No doubt the best way to select a conveyancing lawyer is to seek referrals from friends or relatives who have used the firm that you are considering.
I would like to let out my leasehold flat in Ravensthorpe. Conveyancing solicitor who did the purchase is retired - so can't ask him. Do I need to ask my freeholder for their consent?
Even though your last Ravensthorpe conveyancing solicitor is not available you can review your lease to see if you are permitted to let out the apartment. The rule is that if the deeds are silent, subletting is allowed. There may be a precondition that you must obtain permission via your landlord or other appropriate person before subletting. This means you not allowed to sublet in the absence of first obtaining permission. The consent is not allowed to be unreasonably turned down. If the lease prohibits you from letting out the property you should ask your landlord for their consent.
I purchased a 1st floor flat in Ravensthorpe, conveyancing was carried out September 1996. Can you work out an approximate cost of a lease extension? Corresponding flats in Ravensthorpe with a long lease are worth £165,000. The average or mid-range amount of ground rent is £50 invoiced annually. The lease ceases on 21st October 2101
With only 77 years unexpired we estimate the premium for your lease extension to span between £7,600 and £8,800 plus professional fees.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs without more detailed due diligence. Do not use this information in tribunal or court proceedings. There may be additional issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. Neither should you take any other action based on this information without first getting professional advice.