three months have gone by since my purchase conveyancing in Broadway concluded. I have checked the Land Registry website which shows that I paid £200,000 when infact I paid £180,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the property from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
How does conveyancing in Broadway differ for newly converted properties?
Most buyers of new build residence in Broadway come to us having been asked by the seller to sign contracts and commit to the purchase even before the residence is completed. This is because developers in Broadway typically buy the real estate, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Broadway or who has acted in the same development.
I've recently found out that there is a flying freehold element on a property I put an offer in a fortnight ago in what was supposed to be a quick, chain free conveyancing. Broadway is the location of the property. Is there any advice you can give?
Flying freeholds in Broadway are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Broadway you must be sure that your lawyer goes through the deeds very carefully. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Broadway may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
I am looking for a conveyancing lawyer in Broadway for my house move. Is there any facility to review a firm’s complaints history with the legal regulator?
You can review presented Solicitor Regulator Association (SRA) decisions resulting from investigations started on or after 1 January 2008. Visit Check a solicitor's record. For details about the period before 1 January 2008, or to check a firm's history, call 0870 606 2555, 08.00 - 18.00 Monday, Wednesday, Thursday, Friday and 09.30 - 18.00 Tuesday. For callers outside the UK, dial +44 (0)121 329 6800. The SRA could monitor telephone calls for training reasons.
In relation to leasehold conveyancing in Broadway what are the most common lease problems?
There is nothing unique about leasehold conveyancing in Broadway. All leases are individual and legal mistakes in the legal wording can result in certain sections are erroneous. For example, if your lease is missing any of the following, it could be defective:
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Maintenance charge proportions which don’t add up to the correct percentage Insurance obligations
A defective lease can cause problems when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Halifax, The Mortgage Works, and Barclays Direct all have express conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to provide security, forcing the purchaser to withdraw.
I own a leasehold flat in Broadway, conveyancing was carried out half a dozen years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Similar properties in Broadway with an extended lease are worth £192,000. The average or mid-range amount of ground rent is £55 invoiced annually. The lease expires on 21st October 2079
With 54 years remaining on your lease the likely cost is going to range between £32,300 and £37,400 as well as professional fees.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of comprehensive investigations. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be considered and you obviously should be as accurate as possible in your negotiations. You should not take any other action based on this information before seeking the advice of a professional.
I have noted on a number of consumer advice websites that when choosing a conveyancing firm they need approved by your bank. This is my first home move but I have an offer in principle with Nat West Bank and I already have a high street conveyancing solicitor in Broadway on standby. Will Santander insist on an approved lawyer to be instructed? Does a directory of approved conveyancers even exist for my conveyancing in Broadway?
You should instruct a solicitor that is on the Santander panel. Just call your chosen Broadway conveyancing solicitor to check if they are on the Santander panel. If they are not on the panel you have a couple of choices open to you here:
- Carry on with your preferred Broadway solicitor but Santander will no doubt use a property lawyer on their approved list. This will result in additional fees together with likely frustration.
- Appoint a new conveyancing practitioner to act in the purchase, making sure they are on the Santander conveyancing panel.
- Convince your conveyancer to seek to join the lender panel.