My IFA requires my Alcester law firm’s panel member for the Nat West conveyancing panel. How do I obtain this. I have contacted my local Alcester branch but they have not got back to me yet.
Have you tried contacting your Alcester conveyancing practitioner about this?. Most Alcester law firms will keep a file or database of lender panel information which would include, if applicable, their conveyancing panel details for each bank.
I am buying a property mortgage free in Alcester. I have been residing for the last twelve years in Alcester. Conveyancing searches are a lot of money. As I know the road and vicinity very well should I not bother getting the solicitor to do all the conveyancing searches?
In the absence of a mortgage, then all but one or two of the Alcester conveyancing searches are optional. Your lawyer will try and sway you, perhaps strongly, that you should have searches carried out, but he is duty bound to do this. One thing to take into account; if you are likely to sell the house at a future date, it will be of importance to your future buyer what the searches determine. There are plenty of instances where houses with day to day issues can still show up negative search results. A good conveyancing solicitor in Alcester will provide you some constructive advice in this regard.
The Alcester conveyancing firm that I recently instructed on my purchase in Alcester have suddenly shut down. They were on acting for me because I needed a firm on the Nationwide conveyancing panel and my previous Alcester lawyer was not. I issued them a cheque for £250 in advance. What should be my next steps?
If you have an estate agent involved then let them know straight away so that they advise the vendors that there may be a slight delay due to the problems encountered. Hopefully they will be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You will need to appoint new lawyers that are on the Nationwide 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 solicitors should be in a position to help.
My colleague recommended that if I am buying in Alcester I should carry out a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
This is a search is sometimes quoted for as part of the standard Alcester conveyancing searches. It is not a small document of about 40 pages, listing and setting out important information about Alcester around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average House Prices, Crime statistics, Alcester Education with maps and statistics, Local Amenities and other useful data concerning Alcester.
I have been on the look out for a flat up to £195,000 and identified one near me in Alcester I like with a park and transport links nearby, the downside is that it only has 49 years unexpired on the lease. There is not much else in Alcester in this price bracket, so just wondered if I would be making a grave error buying a short lease?
If you require a mortgage the shortness of the lease may be an issue. Discount the offer by the amount the lease extension will cost if not already taken into account. If the current proprietor has owned the premises for at least twenty four months you can request that they start the process of the extension and pass it to you. You can add 90 years to the current lease and have £0 ground rent by law. You should consult your conveyancing lawyer about this.
My wife and I purchased a leasehold house in Alcester. Conveyancing and Aldermore mortgage organised. A letter has just been received from someone claiming to own the freehold. Attached was a demand for arrears of ground rent dating back to 1995. The conveyancing practitioner in Alcester who acted for me is not around. Any advice?
The first thing you should do is make enquiries of the Land Registry to make sure that this person is indeed the new freeholder. It is not necessary to incur the fees of a Alcester conveyancing practitioner to do this as you can do this on the Land Registry website for less than a fiver. You should note that regardless, even if this is the rightful freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I purchased a split level flat in Alcester, conveyancing having been completed in 2010. Can you work out an approximate cost of a lease extension? Corresponding flats in Alcester with an extended lease are worth £216,000. The average or mid-range amount of ground rent is £50 levied per year. The lease ceases on 21st October 2095
With just 69 years left to run we estimate the premium for your lease extension to range between £9,500 and £11,000 as well as professional fees.
The suggested premium range above a general guide to costs for renewing a lease, but we are not able to advice on a more accurate figure in the absence of comprehensive due diligence. Do not use the figures in tribunal or court proceedings. There may be additional concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information without first getting professional advice.