We were just about to sign contracts for a garden flat in Buntingford. We have hit a stumbling block. Our loan offer with The Royal Bank of Scotland expires on 21/12/2020 but the vendors are insisting on a completion date of 23/12/2020. Is it possible to extend the loan offer?
The best person to address this question is your conveyancer who should assess if he or she is should be discussing with the lender, seller’s solicitors, selling agents or indeed all parties based on the history of your conveyancing as of today.
It is is a decade since I bought my home in Buntingford. Conveyancing solicitors have now been retained on the sale but I am unable to find the title deeds. Is this a major issue?
Don’t worry too much. Firstly the deeds may be with the lender or they may be archived with the solicitor who handled the purchase. Secondly the likelihood is that the land will be registered at the land registry and you will be able to establish that you are the registered owner by your conveyancing lawyers obtaining up to date copy of the land registers. Almost all conveyancing in Buntingford involves registered property but in the unlikely event that your home is unregistered it adds to the complexity but is resolvable.
Have just purchased a repossessed house at auction in Buntingford. Conveyancing is needed. What are my next steps?
Given that you have now for in every practical sense signed on the dotted line you will need to choose a conveyancing lawyer as a matter of urgency as you are faced with a pending a fixed date to complete the conveyancing. Every auction property will have a corresponding auction pack. This should include the copy title deeds, local authority and drainage searches. Where you are dealing with leasehold property the auction papers should include a copy of the lease, management information and a sellers leasehold information form and other conveyancing documentation specific to leasehold premises. You should give this to the lawyer working for you at the earliest opportunity. You also need to ensure that you have funds in place to complete on the date specified in the contract.
I am being advised by my solicitor that lack of planning permission insurance is required on my purchase. What is the level of cover for Buntingford conveyancing?
The right level of lack of planning permission indemnity insurance should be dictated by who your lender. It would differ for example between Lloyds TSB Bank and Norwich and Peterborough Building Society. Conveyancing lawyers as opposed to members of the public take out such insurances.
My wife and I are in the process of viewing apartments in Buntingford and I am now considering a potential offer. Is it premature to have a solicitor in place? I am planning to take a mortgage with Santander.
You should start obtaining conveyancing quotes from solicitors ASAP. Once you decide who you want to use and once your offer is accepted you can instruct them to work for you and forward their details on to the EA. As you are seeking a mortgage with Santander, ask your prospective lawyers if they are on the Santander conveyancing panel otherwise they can't do the mortgage legal work.
Will my lawyer be making enquiries regarding flooding during the conveyancing in Buntingford.
The risk of flooding is if increasing concern for solicitors conducting conveyancing in Buntingford. Some people will acquire a property in Buntingford, fully expectant that at some time, it may be flooded. However, leaving to one side the physical damage, if a property is at risk of flooding, it may be difficult to get a mortgage, satisfactory insurance cover, or sell the premises. There are steps that can be taken during the course of a house purchase to forewarn the buyer.
Lawyers are not qualified to impart advice on flood risk, however there are a numerous checks that can be undertaken by the buyer or by their conveyancers which will give them a better understanding of the risks in Buntingford. The standard property information forms supplied to a buyer’s conveyancer (where the solicitors are adopting what is known as the Conveyancing Protocol) incorporates a standard question of the owner to discover if the property has suffered from flooding. In the event that the property has been flooded in past which is not revealed by the seller, then a buyer could commence a legal claim for losses resulting from an inaccurate reply. The buyer’s lawyers may also commission an enviro search. This should higlight whether there is a recorded flood risk. If so, more detailed inquiries will need to be carried out.
We are a fortnight into a leasehold purchase having been recommend to conveyancers by the selling agent to carry out the conveyancing in Buntingford. I am am extremely frustrated with the quality of service. Could you you assist me in finding new lawyers?
They would need to be really poor to suggest replacing them. Has your mortgage offer been generated? In the event that it has you must inform them of the new contact details and get the mortgage documents are re-issued. The solicitor ideally should be on the mortgage company approved list to avoid escalating expenses and delays. That should be your first question of the new solicitors. Our search tool can assist you in finding a bank approved solicitor for your home move in Buntingford
I only have Fifty years unexpired on my flat in Buntingford. I need to get lease extension but my freeholder is missing. What should I do?
If you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be granted an extra 90 years by the magistrate. However, you will be required to prove that you or your lawyers have done all that could be expected to track down the freeholder. On the whole a specialist may be helpful to carry out a search and prepare a report to be used as proof that the freeholder is indeed missing. It is advisable to get professional help from a solicitor both on proving the landlord’s disappearance and the application to the County Court overseeing Buntingford.
I inherited a split level flat in Buntingford, conveyancing was carried out in 1995. Can you work out an approximate cost of a lease extension? Comparable flats in Buntingford with an extended lease are worth £206,000. The ground rent is £45 invoiced annually. The lease expires on 21st October 2086
With just 66 years unexpired we estimate the premium for your lease extension to range between £12,400 and £14,200 as well as plus your own and the landlord's "reasonable" professional fees.
The figure above a general guide to costs for extending a lease, but we are not able to supply a more accurate figure without more comprehensive due diligence. You should not use this information in a Notice of Claim or as an informal offer. There may be additional concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. You should not move forward based on this information before seeking the advice of a professional.