My wife and I are hoping to buy a house in Axbridge and are in fact using a Axbridge conveyancing practice. Within the last couple of days our lawyer has forwarded the sale agreement to be signed with a detailed report with a view to exchanging next week. Clydesdale have this morning contacted us to advise us that there is now an issue as our Axbridge lawyer is not on their approved list of lawyers. Is this a problem?
If you are buying a property with the assistance of a mortgage it is conventional for the purchasers' lawyers to also represent the mortgage company. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Quality Scheme. Your property lawyer should contact your mortgage company and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own lawyers to represent them. You don't have to instruct a firm on the lender’s conveyancing panel as you are at liberty to use your preferred Axbridge lawyers, in which case it will likely add costs, and it may delay matters as you are adding another lawyer into the mix.
Last March we completed a house move in Axbridge. We have noticed several issues with the house which we believe were omitted in the conveyancing searches. Is there anything we can do? Can you clarify the type of searches that should have been carried out for conveyancing in Axbridge?
The query is vague as to the nature of the problems and if they are relate to conveyancing in Axbridge. Conveyancing searches and due diligence initiated during the legal transfer of property are designed to help avoid problems. As part of the legal transfer of property, a seller answers a questionnaire called a Seller’s Property Information Form. If the information is inaccurate, you could possibly take legal action against the seller for any losses that you have suffered. The survey should have identified any problems with the structure of the property. Assuming a detailed survey was carried out and the issues were not identified, you may have a claim against the surveyor. However, if you did not have a full survey, you may be responsible for fixing any defects that have now been noted. We would always encourage buyers to take every possible step to ensure they are completely aware of the condition of a property before purchase regardless of whether they are buying in Axbridge.
We just had an offer accepted to buy with Earl Shilton BS. We have called around locally but am struggling to find a Axbridge conveyancing firm on the Earl Shilton BS approved list. Could you assist?
Feel free to take advantage of the search tool on this site. Pick the lender and type Axbridge or your location and you will discover numerous solicitors located in Axbridge or by proximity to you.
I moved into my flat on 6 September and my personal details are still not registered. Any reason for this? My conveyancing solicitor in Axbridge said it should be formalised in a couple of weeks. Are transfers in Axbridge particularly slow to register?
There is nothing unique when it comes to conveyancing in Axbridge registration formalities. Rather than based on location, timescales can vary depending on the party submitting the application, whether it is in order and if the Land registry must send notices to any third parties. Currently approximately 80% of such applications are completed in less than three weeks but occasionally there can be protracted hold-ups. Historically registration is effected once the purchaser is living at the property therefore an expedited registration is not always top priority yet where there is a degree of urgency associated with the registration then you or your conveyancer should communicate with the Registry to express the reasoning for the application to be prioritised.
Due to the guidance of my in-laws I had a survey completed on a property in Axbridge prior to instructing conveyancers. I have been told that there is a flying freehold overhang to the property. My surveyor advised that some mortgage companies may not grant a mortgage on this type of premises.
It varies from the lender to lender. Santander has different instructions from Halifax. Should you wish to call us we can check via the appropriate bank. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Axbridge. Conveyancing may be slightly more expensive based on your lender's requirements.
I am in need of some leasehold conveyancing in Axbridge. Before diving in I would like to find out the remaining lease term.
Assuming the lease is registered - and most are in Axbridge - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
I invested in buying a basement flat in Axbridge, conveyancing having been completed September 2007. Can you shed any light on how much the price could be for a 90 year extension to my lease? Similar properties in Axbridge with an extended lease are worth £176,000. The ground rent is £50 levied per year. The lease finishes on 21st October 2105
With just 80 years remaining on your lease we estimate the premium for your lease extension to be between £8,600 and £9,800 as well as professional fees.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we are not able to advice on the actual costs in the absence of comprehensive due diligence. You should not use the figures in tribunal or court proceedings. There are no doubt other concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information without first seeking the advice of a professional.