I am soon to exchange buying a house in Bala but as a result of damage from the recent storms I have was able negotiate compensation from the vendor in the sum of £3k in the form of a reduction in the price. This was going to be dealt with as part of a side agreement yet Aldermore will not agree to this. Should they have been approached?
Your property lawyer that is on the Aldermore approved list is obliged to advise Aldermore of any amendments to the sale price. If you prohibit your property lawyer to disclose the price change to Aldermore then they would have to discontinue acting for you. In addition, Aldermore and you would have to appoint a new conveyancer for your conveyancing in Bala.
We're in Bala, FTBs buying with a mortgage (lender is Aldermore , and our lawyer is on the Aldermore conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Aldermore conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no conveyancing practitioner should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
I am looking for a flat up to £195,000 and identified one near me in Bala I like with a park and railway links nearby, however it only has 51 years on the lease. I can't really find anything else in Bala suitable, so just wondered if I would be making a mistake buying a short lease?
If you require a home loan the shortness of the lease will likely be a potential deal breaker. Discount the price by the anticipated lease extension will cost if not already taken into account. If the current proprietor has owned the premises for at least 2 years you can ask them to commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the existing lease and have £0 ground rent by law. You should speak to your conveyancing solicitor about this.
What makes your site different to other web based conveyancing solicitors for conveyancing in Bala?
At this site get a conveyancing quote from a Solicitor or Licensed Conveyancer that appreciates the issues of your conveyancing in Bala. Unlike many estate agents and many comparison sites we do not operate kick-back arrangements with solicitors. Some agents and online brokers 'recommend' the firm who pay the highest kickback, rather than the best value conveyancing in Bala
My wife and I purchased a leasehold flat in Bala. Conveyancing and Barclays mortgage went though with no issue. A letter has just been received from someone saying they have taken over the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1996. The conveyancing solicitor in Bala who previously acted has now retired. Do I pay?
First make enquiries of HMLR to be sure that the individual purporting to own the freehold is indeed the new freeholder. It is not necessary to instruct a Bala conveyancing solicitor to do this as it can be done on-line for a few pound. Rest assured that in any event, even if this is the legitimate landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I acquired a leasehold flat in Bala, conveyancing was carried out 8 years ago. Can you please calculate a probable premium for a statutory lease extension? Similar flats in Bala with an extended lease are worth £185,000. The average or mid-range amount of ground rent is £65 per annum. The lease ceases on 21st October 2080
You have 59 years left to run the likely cost is going to span between £20,900 and £24,200 plus costs.
The suggested premium range above a general guide to costs for extending a lease, but we are not able to advice on a more accurate figure in the absence of comprehensive due diligence. You should not use the figures in a Notice of Claim or as an informal offer. 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 placing reliance on this information before getting professional advice.
What type of premises does your Bala conveyancing quotes relate to?
The quotes issued are only applicable to standard residential homes in England & Wales. Should you have any different needs for instance industrial or agricultural land or commercial conveyancing in Bala do telephone us to consider your requirements .