We're in Carbis Bay, First time buyers purchasing with a mortgage (lender is Coventry BS , and our lawyer is on the Coventry BS conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Coventry BS 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 downsizing from our property in Carbis Bay and according to the buyers it appears that there is a risk of it being constructed land that was not decontaminated. A high street Carbis Bay lawyer would know this is not the case. It does beg the question why the buyers are using a web based conveyancing firm as opposed to a conveyancing solicitor in Carbis Bay. Having lived in Carbis Bay for 4 years we know that this is a non issue. Do we get in touch with our local Authority to get confirmation that there is no issue.
It would appear that you have a conveyancing lawyer currently acting for you. Are they able to advise? You must enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same illness)
I used Action Conveyancing several years ago for my conveyancing in Carbis Bay. Now, I need the files however the law firm is no longer operating. What do I do?
You should contact the Solicitors Regulatory Authority (SRA) to assist in tracking down your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Carbis Bay of the conveyancing firm of solicitors you previously retained, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
I am looking for a leasehold apartment up to £245,000 and identified one close by in Carbis Bay I like with a park and station in the vicinity, however it's only got 52 remaining years left on the lease. There is not much else in Carbis Bay in this price bracket, so just wondered if I would be making a mistake purchasing a lease with such few years left?
Should you require a home loan that many years will likely be an issue. Reduce the offer by the amount the lease extension will cost if it has not already been discounted. If the current owner has owned the property for at least 2 years you could request that they commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the existing lease term and have £0 ground rent by law. You should speak to your conveyancing solicitor concerning this matter.
As co-executor for the will of my aunt I am selling a residence in Monmouth but reside in Carbis Bay. My solicitor (approximately 235 miles awayhas requested that I sign a statutory declaration before the transaction finalising. Could you suggest a conveyancing solicitor in Carbis Bay who can attest and place their company stamp on the document?
strictly speaking you are unlikely to be required to have the documents witnessed by a conveyancing solicitor. Ordinarily or notary public or solicitor will suffice regardless of whether they are located in Carbis Bay
I am looking at a two apartments in Carbis Bay which have in the region of fifty years unexpired on the leases. Will this present a problem?
There is no doubt about it. A leasehold flat in Carbis Bay is a wasting asset as a result of the reducing lease term. The closer the lease gets to its expiry date, the more it adversely affects the marketability of the premises. For most buyers and lenders, leases with less than 75 years become less and less marketable. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of premises with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Carbis Bay conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease. You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that any new terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.
Leasehold Conveyancing in Carbis Bay - A selection of Questions you should consider before Purchasing
How many of the leaseholders are in arrears for their service charge payments? What is the maintenance charge and ground rent on the flat?