We instructed a high street firm for my conveyancing in Clarbeston Road recently. After carefully reading the Terms I notewe are responsible for charges even where the conveyance does not complete. Should I go with them or use a web based solicitor practice who offer no move no charge conveyancing in Clarbeston Road?
Generally there is a compromise along the lines that if "No Completion No Fee" is offered then the fee levels will generally be higher to counteract the cases that do not proceed. You should be mindful that such promotions tend not to cover expenditure by way of example Clarbeston Road conveyancing search expenses.
We see that you have a search directory identifying law firms on the Bank of Ireland conveyancing panel. Do firms pay you a referral fee if I retain them for our conveyancing in Clarbeston Road?
We are a listing service only for law firms wishing to communicate if they are on the Bank of Ireland conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Clarbeston Road.
We had appointed solicitors locally in Clarbeston Road on the Barclays solicitor approved list. They are now charging me a further sum for dealing with the Barclays mortgage. Is this an additional conveyancing fee set by Barclays?
Unfortunately, as long as it is in their Terms of Engagement or estimate then yes your conveyancing practitioner can charge a fee for this. The fee is not set by Barclays but by your Clarbeston Road solicitor. Numerous firms on the Barclays panel will levy ’dealing with mortgage’ fee but plenty of practices include it on their overall fee.
I am purchasing a property in Clarbeston Road. One unusual aspect is that the roof has a solar panel. Bank of Ireland have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
As you are obtaining a mortgage with Bank of Ireland your lawyer must check the conveyancing instructions outlined in Section 2 of UK Finance Lenders’ Handbook for Bank of Ireland. The Council of Mortgage Lenders’ Handbook includes minimum provisions for solar panel roof-space leases, and conveyancers are required to report to Bank of Ireland where a lease does not comply with these provisions. The conditions relate to the installation of panels on properties in England and Wales and is not restricted to Clarbeston Road.
Completion of my purchase has taken place for my property in Clarbeston Road. Conveyancing was satisfactory but I would like to complain about the lender. How do I make a complaint?
Almost all lenders have complaints procedures. Your first point of contact should be one of the lender’s branches or the Customer Care Department at head office. Ordinarily complaints to a lender are resolved effectively and efficiently. However if you are not satisfied that the matter is not resolved you can write to Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London E14 9SR who will take matters further.
The deeds to our house are lost. The solicitors who handled the conveyancing in Clarbeston Road 5 years ago are no longer around. Will I be able to sell the house?
You no longer need to have the physical original deeds to establish that you own the land or property, as the Land Registry have everything they need in a digital format.
I am looking for a leasehold apartment up to £245,000 and identified one near me in Clarbeston Road I like with open areas and station nearby, however it only has 61 years unexpired on the lease. There is not much else in Clarbeston Road in this price bracket, so just wondered if I would be making a mistake purchasing a lease with such few years left?
Should you need a mortgage the remaining unexpired lease term may be problematic. Reduce the price by the anticipated lease extension will cost if not already taken into account. If the current proprietor has owned the premises for at least 2 years you may request that they start the process of the extension and pass it to you. You can add 90 years to the existing lease and have £0 ground rent by law. You should consult your conveyancing lawyer about this.
I am looking at a two flats in Clarbeston Road both have in the region of forty five years remaining on the leases. Will this present a problem?
There is no doubt about it. A leasehold apartment in Clarbeston Road is a deteriorating asset as a result of the reducing lease term. The nearer the lease gets to zero years unexpired, the more it reduces the marketability of the premises. The majority of purchasers and banks, leases with less than eighty years become less and less marketable. On a more upbeat 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 Clarbeston Road conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending 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 the agreed 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.
I own a 1 bedroom flat in Clarbeston Road, conveyancing was carried out 5 years ago. Can you work out an approximate cost of a lease extension? Similar flats in Clarbeston Road with a long lease are worth £190,000. The ground rent is £45 invoiced every year. The lease finishes on 21st October 2086
With 62 years remaining on your lease we estimate the premium for your lease extension to be between £17,100 and £19,800 plus legals.
The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs without more detailed investigations. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information without first getting professional advice.