My apartment in Buxton is up for sale and I have accepted an offer. Does the solicitor have to be required to be on the UBS conveyancing panel in order to deal with the discharge of my mortgage?
Ordinarily, even if your lawyer is not on the UBS conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their specifications fairly frequently currently.
It has been 2 months following my purchase conveyancing in Buxton completed. I have checked the Land Registry site which shows that I paid £200,000 when infact I paid £160,000. 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 residence 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.
About to purchase a new build apartment in Buxton. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build legal work.
Set out below are examples of a selection of leasehold new build enquiries that you may expect your new-build leasehold conveyancing in Buxton
The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified.
What does commercial conveyancing in Buxton cover?
Buxton conveyancing for business premises covers a wide range of guidance, supplied by regulated solicitors, relating to business property. By way of example, this area of conveyancing can cover the sale or purchase of freehold business premises or, more usually, the transfer of existing business tenancies or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial loans and the termination of leases.
Is it best to instruct a Buxton conveyancing solicitor in close proximity to the house I am buying? I have an old university friend who can execute the conveyancing but her office is approximately 350miles drive away.
The benefit of a local Buxton conveyancing practice is that you can visit the firm to execute documents, present your ID and apply pressure on them if necessary. They will also have local knowledge which is a bonus. However it's more important to get someone that will pull out all the stops for you. If if people you trust used your friend and on the whole were impressed that must outweigh using an unknown Buxton conveyancing lawyer solely due to them being local.
I am a negotiator for a long established estate agency in Buxton where we have witnessed a few flat sales derailed due to leases having less than 80 years remaining. I have been given conflicting advice from local Buxton conveyancing firms. Can you clarify whether the owner of a flat can commence the lease extension process for the buyer?
Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser need not have to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or simultaneously with completion of the sale.
Alternatively, it may be possible to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.
I invested in buying a basement flat in Buxton, conveyancing having been completed March 2000. Can you please calculate a probable premium for a statutory lease extension? Equivalent flats in Buxton with a long lease are worth £260,000. The average or mid-range amount of ground rent is £45 per annum. The lease ceases on 21st October 2096
With just 74 years unexpired we estimate the premium for your lease extension to span between £8,600 and £9,800 as well as legals.
The figure that we have given is a general guide to costs for renewing a lease, but we are not able to advice on a more accurate figure without more comprehensive investigations. You should not use the figures in tribunal or court proceedings. There may be additional concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. You should not move forward based on this information before getting professional advice.