I am told that my conveyancing solicitors will need to check that the building insurance for my purchase of a house in Avonmouth. My lender is Platform
Platform have specific requirements as set out in the UK Finance Lenders’ Handbook. As of 5/12/2023, the requirements read as follows :
I have been told that property searches are the number one cause of obstruction in Avonmouth house deals. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) has noted the determinations of research by MoveWithUs that conveyancing searches do not feature within the most frequent causes of hindrances during the legal transfer of property. Local searches are unlikely to feature in any holding up conveyancing in Avonmouth.
I have todaybeen informed that Stirling Law have closed. They carried out my conveyancing in Avonmouth for a purchase of a leasehold apartment 9 months ago. How can I be sure that the property is not still registered in the name of the former proprietor?
The easiest way to check if the property is registered to you, 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 Avonmouth conveyancing specialists.
I need to instruct a conveyancing solicitor for my conveyancing in Avonmouth. I happened to stumble across a web site which looks to be the perfect offering If there is a chance to get all formalities done via email that would be ideal. Should I be concerned? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
I am a negotiator for a busy estate agent office in Avonmouth where we see a number of flat sales derailed due to short leases. I have received inconsistent advice from local Avonmouth conveyancing solicitors. Can you confirm whether the seller of a flat can commence the lease extension process for the purchaser on completion of the sale?
Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer can avoid having to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or simultaneously with completion of the sale.
Alternatively, it may be possible to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.
I am the registered owner of a 1 bedroom flat in Avonmouth, conveyancing having been completed March 2010. Can you shed any light on how much the price could be for a 90 year extension to my lease? Comparable flats in Avonmouth with an extended lease are worth £211,000. The average or mid-range amount of ground rent is £45 invoiced every year. The lease runs out on 21st October 2090
With 67 years unexpired we estimate the premium for your lease extension to be between £10,500 and £12,000 as well as legals.
The suggested premium range above a general guide to costs for extending a lease, but we are not able to supply the actual costs without more detailed investigations. Do not use this information in tribunal or court proceedings. There are no doubt additional issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Please do not move forward based on this information without first seeking the advice of a professional.
Is it true that a Avonmouth conveyancing firm taken to court by a client for failing to conduct comprehensive conveyancing searches?
We are not aware of such a Avonmouth conveyancing matter but it has been reported that, a couple purchasing a house in Cumbria successfully won a claim against their solicitor as a consequence of development plans to construct a wind farm not being identified in conveyancing searches.
If you are thinking of buying a home in Avonmouth It is essential that your property lawyer carry out all Avonmouth conveyancing searches needed to ensure you have accurate and current information ahead of acquiring a home in Avonmouth.