My partner and I are planning to acquire a home in Christchurch and are in fact using a Christchurch conveyancing practice. Within the past 48 hours our solicitor has forwarded the sale agreement to be signed with a detailed report with the expectation that exchange is imminent. TSB have this evening contacted us to inform me that they have now hit a problem as our Christchurch conveyancer is not on their conveyancing panel. Is this a problem?
When purchasing a property with mortgage finance it is usual for the purchasers' lawyers to also represent the mortgage company. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Accreditation Scheme. Your solicitor should contact your lender and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You don't have to instruct a firm on the bank's conveyancing panel as you are at liberty to use your preferred Christchurch lawyers, in which case it will likely add costs, and it may delay matters as you have another set of people involved.
It has been 3 months since my purchase conveyancing in Christchurch took place. 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.
Over the last few months I have been searching for a flat up to £305k and identified one close by in Christchurch I like with open areas and transport links nearby, however it's only got 51 years on the lease. I can't really find anything else in Christchurch for this price, so just wondered if I would be making a grave error acquiring a short lease?
If you require a mortgage the shortness of the lease will be a potential deal breaker. Discount the price by the anticipated lease extension will cost if not already taken into account. If the current proprietor has owned the premises for a minimum of twenty four months you may ask them to start the process of the extension and then assign it to you. You can add 90 years to the current lease term with a zero ground rent applied. You should consult your conveyancing solicitor about this.
I am using a search engine for the phrase conveyancing in Christchurch it shows results of many property lawyerslocally. How do I determine which is the suitable conveyancing solicitor for my move?
The best way of finding a suitable conveyancer is via trusted recommendation, so seek the opinion of friends and family who have bought a property in Christchurch or a reputable estate agent or financial adviser. Fees for conveyancing in Christchurch vary, so it's advisable to secure a minimum of four estimates from varying types of solicitors. Dont forget to clarify what costs in the quote includes.
I have recently realised that I have Sixty One years left on my lease in Christchurch. I need to extend my lease but my landlord is can not be found. What should I do?
If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be extended by the magistrate. However, you will be required to demonstrate that you or your lawyers have used your best endeavours to locate the landlord. In some cases an enquiry agent may be helpful to try and locate and prepare an expert document to be used as proof that the landlord can not be located. It is advisable to get professional help from a solicitor both on proving the landlord’s disappearance and the vesting order request to the County Court overseeing Christchurch.
I invested in buying a 1st floor flat in Christchurch, conveyancing having been completed May 1997. Can you give me give me an indication of the likely cost of a lease extension? Corresponding flats in Christchurch with over 90 years remaining are worth £190,000. The average or mid-range amount of ground rent is £65 per annum. The lease ceases on 21st October 2083
With just 61 years remaining on your lease we estimate the premium for your lease extension to be between £19,000 and £22,000 as well as costs.
The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more comprehensive investigations. You should not use the figures in a Notice of Claim or as an informal offer. There may be additional concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information without first seeking the advice of a professional.
What could I expect to pay for conveyancing in Christchurch?
Almost all Christchurch conveyancing practices will charge a set fee. Where further work arise during the transaction your solicitor is obliged advise you in writing of any extra charges for any work immediately it becomes obvious. Some work on a no sale no cost offering, others will charge a proportion of the agreed fee, depending on the stage at which the transaction does not proceed.
It is advisable to ask a few practices to provide you a quotation.