The Aintree conveyancing solicitors that I recently instructed on my house acquisition in Aintree have suddenly closed. I chose them because I had to have a firm on the Clydesdale conveyancing panel and my previous Aintree lawyer was not. I paid them money on account. What are my options?
If you have an estate agent involved then inform them immediately so that they can let the sellers know that there may be a slight delay due to reasons beyond your control. Most sellers would be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You should appoint new lawyers that are on the Clydesdale conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new lawyers should be in a position to assist.
I have todaydiscovered that Stirling Law have closed. They carried out my conveyancing in Aintree for a purchase of a leasehold flat 10 months ago. How can I be sure that the property is registered correctly in the name of the former proprietor?
The easiest way to see if the premises is in your name, you can carry out 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 Aintree conveyancing specialists.
I opted to have a survey carried out on a house in Aintree prior to appointing lawyers. I have been told that there is a flying freehold overhang to the property. Our surveyor has said that some lenders may not issue a mortgage on a flying freehold property.
It depends who your proposed lender is. Santander has different requirements for example to Nationwide. Should you wish to call us we can check via the appropriate lender. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Aintree. Conveyancing will be smoother if you use a solicitor in Aintree especially if they regularly deal with such properties in Aintree.
Is it best to choose a Aintree conveyancing solicitor in close proximity to the house I am purchasing? I have an old university friend who can deal with the conveyancing however his firm is located approximately 350miles away.
The primary upside of using a local Aintree conveyancing practice is that you can pop in to sign paperwork, present your identification documents and pester them if necessary. They will also have local intelligence which is a bonus. However it's more important to get someone that will do a good and efficient job. If if people you trust instructed your friend and they were impressed that should trump using an unknown Aintree conveyancing lawyer just because they are Aintree based.
I am attracted to a two apartments in Aintree both have in the region of fifty years left on the leases. Should I regard a short lease as a deal breaker?
A lease is a right to use the premises for a period of time. As a lease shortens the saleability of the lease reduces and results in it becoming more costly to acquire a lease extension. For this reason it is often a good idea to extend the lease term. It is often difficult to sell a property with a short lease because mortgage lenders may be reluctant to lend money on such properties. Lease enfranchisement can be a protracted process. We recommend you seek professional assistance from a solicitor and surveyor with experience in this area.
I inherited a split level flat in Aintree, conveyancing was carried out half a dozen years ago. How much will my lease extension cost? Corresponding properties in Aintree with a long lease are worth £185,000. The average or mid-range amount of ground rent is £65 invoiced annually. The lease ceases on 21st October 2083
With 60 years remaining on your lease we estimate the price of your lease extension to span between £20,000 and £23,000 as well as plus your own and the landlord's "reasonable" professional fees.
The figure that we have given is a general guide to costs for renewing a lease, but we are not able to supply the actual costs in the absence of detailed due diligence. You should not use the figures in tribunal or court proceedings. There may be additional issues that need to be considered and clearly you should be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information without first seeking the advice of a professional.
I have appointed a Aintree conveyancing solicitor for our house purchase (novice purchasers) and have spotted in the terms and conditions that they are not governed by the Financial Conduct Authority. Need I be worried or is that standard with conveyancing practitioner?
We can't see why they should be. Most conveyancer don't lend money. They will be governed by the Solicitors Regulation Authority, who dictate strict obligations in relation to amounts held in their bank.