I am under pressure from the seller of a property in Blaby to sign contracts within four weeks. What can I do to speed up matters?
Where the seller is applying time constraints for your conveyancing it is highly recommended that your solicitor is familiar with the area as they will have local contacts and knowledge. It is possible that they would have handled otherproperties in the same street. Therefore consider using a Blaby conveyancing solicitor. In addition, be sure that the lawyer is on the lender panel. It is said that 18% of Blaby conveyancing deals are held up or derailed after finding out that a buyer’s solicitor was not on their mortgage lender’s panel. In many cases this discovery resulted in the legal process being held up by as much as 21 days. It is claimed that this issue affects approximately one hundred thousand home moves every year. Almost all Blaby conveyancing practices can not act for certain mortgage companies so do check as early as possible.
I am told that my conveyancing solicitors will need to check that the building insurance when buying a house in Blaby. My lender is Tesco Bank
Tesco Bank have specific requirements as set out in the UK Finance Lenders’ Handbook. As of 22/1/2021, the requirements read as follows :
Me and my partner are purchasing a property in Blaby. I might seem paranoid but how we can trust a conveyancer? On completion day we will need to deposit our life savings into their account. What protection do we have from them run away with our money?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
Is it the case that all Blaby CQS (Conveyancing Quality Scheme) solicitors are on the Nottingham conveyancing list of approved practices?
It is true that some banks and building societies now make use of the accreditation scheme as the starting point for Panel membership such as HSBC and Santander. CQS membership however is no guarantee to lender panel acceptance. That being said,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for solicitors wishing to join their approved list of conveyancing solicitors.
We had appointed solicitors located in Blaby on the Yorkshire BS solicitor approved list. They are now charging me a further charge for handling the Yorkshire BS mortgage. Is this a supplemental conveyancing fee specified by Yorkshire BS?
Unfortunately, so long as it is in their Terms of Engagement or Quote then yes your lawyer may charge a fee for this. The charge is not dictated by Yorkshire BS but by your Blaby lawyer. Some firms on the Yorkshire BS panel will charge ’dealing with mortgage’ fee but plenty of firms include it on their overall fee.
Just bought a detached house in Blaby , What is the estimated time for the Land Registry to register my ownership? My Blaby conveyancing solicitor has been very slow, so I want to be certain that my purchase is recorded.
There is nothing unique about conveyancing in Blaby registration formalities. Rather than based on location, timescales can vary according to who lodges the application, whether it is in order and whether the Land registry must send notices to any other parties. Currently in the region of 80% of submission are fully dealt with in less than three weeks but some can be subject to extensive delays. Registration takes place once the buyer is living at the property thus an expedited registration is not usually top priority but if there is a degree of urgency associated with the registration then you or your solicitor can speak with the land registry and explain the circumstances.
I am tempted by the attractive purchase price for a two flats in Blaby both have approximately 50 years unexpired on the lease term. Do I need to be concerned?
There are plenty of short leases in Blaby. The 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 expensive to acquire a lease extension. For this reason it is often a good idea to increase the term of the lease. Sometimes it is difficulties arise selling premises with a short lease because mortgage lenders may be unwilling to lend money on such properties. Lease extension can be a protracted process. We advise that you get professional help from a solicitor and surveyor with experience in this field.
I inherited a ground floor flat in Blaby, conveyancing formalities finalised half a dozen years ago. Can you work out an approximate cost of a lease extension? Corresponding flats in Blaby with a long lease are worth £216,000. The ground rent is £50 yearly. The lease ends on 21st October 2090
With just 69 years remaining on your lease the likely cost is going to be between £9,500 and £11,000 plus plus your own and the landlord's "reasonable" professional fees.
The suggested premium range above a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more comprehensive investigations. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. You should not move forward placing reliance on this information without first getting professional advice.
Why can't I complete our conveyancing in Blaby on Good Friday?
This is due to the fact that on completion the money will be transferred electronically between the banks of the purchaser and owner’s conveyancing practitioner and currently this can only happen on a business day. So you can't complete on a weekend either.