My wife and I are purchasing a flat in Clayton-le-Moors. I might seem paranoid but how we can trust a solicitor? On the day of competition we will need to deposit our life savings into their account. What protection do we have from them run away with our deposit?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
Is it the case that all Clayton-le-Moors solicitor practices on the Lloyds conveyancing panel are overseen by the SRA?
As a firm of solicitors, in order to be on the Lloyds conveyancing panel they would need to be governed by the Solicitors Regulatory Authority. Many mortgage companies do permit licenced conveyancers on their panel and in such a situation the organisation would be governed by the Council of Licensed Conveyancers.
RBS have agreed my home loan in principle, my bid on a house in Clayton-le-Moors has been accepted, what are the next steps?
Your estate agent will want to be informed of your solicitor's details (ensure that the solicitors are on the bank’s approved list). Contact RBS or the financial adviser and finalise any appropriate paperwork. RBS will instruct a valuer who will get in contact with the estate agent or owners to schedule an appointment. Once conducted (assuming no problems) it takes approximately a week to get a mortgage offer. RBS will send the offer to you and your property lawyers. The transaction will then take it’s course according the nature and complexity of the conveyancing in Clayton-le-Moors.
Will commercial conveyancing searches disclose impending roadworks that could impact a commercial property in Clayton-le-Moors?
Many commercial conveyancing solicitors in Clayton-le-Moors will carry out a SiteSolutions Highways report as it dramatically cuts the time that conveyancers invest in researching accurate data on highways that impact buildings and development assets in Clayton-le-Moors. The search result sets out definitive data on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Clayton-le-Moors.
For each commercial conveyancing transaction in Clayton-le-Moors it is critical to investigate the adoption status of roads surrounding a site. Failure to identify developments where adoption procedures have not been dealt with adequately can cause delays to Clayton-le-Moors commercial conveyancing deals as well as present a risk to future intentions for the site. These searches are not ordered for domestic conveyancing in Clayton-le-Moors.
Me and my brother purchased a 4 bedroom Georgian house in Clayton-le-Moors. Conveyancing solicitor acted for me and Clydesdale. I happened to do a free search for it on the Land Registry database and there are a couple of entries: one for freehold, the second leasehold under the exact same address. Is it worth asking Clydesdale to clarify?
You should review the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Clayton-le-Moors and other locations in the country and poses no real issues for owners other than when they mortgage they have to account for both freehold and leasehold interests when dealing with lenders. You can also question the position with the conveyancing practitioner who conducted the conveyancing.
How does the Landlord & Tenant Act 1954 impact my business property in Clayton-le-Moors and how can you help?
The 1954 Act affords protection to commercial leaseholders, giving them the a statutory right to apply to court for a renewal tenancy and continue in occupation at the end of an expired lease. There are certain specified grounds that a landlord can refuse a lease renewal and the rules are complex. Fees are different for commercial conveyancing. Clayton-le-Moors is one of the numerous areas of the UK in which our lawyers are based
I am attracted to a couple of apartments in Clayton-le-Moors both have approximately 50 years unexpired on the leases. Should I regard a short lease as a deal breaker?
There is no doubt about it. A leasehold flat in Clayton-le-Moors is a deteriorating asset as a result of the shortening lease. The closer the lease gets to its expiry date, the more it reduces the salability of the property. The majority of purchasers and lenders, leases with under 75 years become less and less attractive. 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 property 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 Clayton-le-Moors 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. They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. 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 ground floor flat in Clayton-le-Moors, conveyancing formalities finalised January 1999. Can you shed any light on how much the price could be for a 90 year extension to my lease? Corresponding flats in Clayton-le-Moors with a long lease are worth £202,000. The average or mid-range amount of ground rent is £60 invoiced every year. The lease ends on 21st October 2082
With only 57 years remaining on your lease we estimate the premium for your lease extension to span between £28,500 and £33,000 as well as legals.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to supply a more accurate figure in the absence of comprehensive investigations. You should not use this information in tribunal or court proceedings. 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 before seeking the advice of a professional.
Are the Clayton-le-Moors conveyancing lawyers identified as being on the lender conveyancing panel, together with their details provided by the lender?
Clayton-le-Moors firms and firms conducting conveyancing in Clayton-le-Moors themselves provide us confirmation that they are on the bank conveyancing panel as opposed to being supplied with a list from the bank directly.