It has come to my attention via my lender that my Cross Keys the law firm I have appointed is not on the bank Conveyancing panel. How can I check?
You need to contact your Cross Keys lawyer directly. It is reasonable to expect your lawyer to notify you what has happened. If they are not on the panel they could put your in touch with solicitors on the approved list of lawyers for your lender.
I am under pressure from the owner of a property in Cross Keys to exchange within four weeks. What can I do to expedite matters?
In the event that you are under time constraints to exchange we would recommend that your conveyancer is familiar with the location as they will make use of local connections and insight. It is even conceivable that they would have transacted otherhomes in the same road. Therefore consider using a Cross Keys conveyancing firm. In addition, be sure that the conveyancing firm is on the member panel. It is said that nearly one in five of Cross Keys conveyancing deals are delayed or derailed after discovering a buyer’s solicitor was not on their mortgage lender’s panel. This can often result in the buying process being held up by almost three weeks. It is believed that this issue impacts in the region of 100,000 home sales every year. Almost all Cross Keys conveyancing practices can not represent certain banks so do check at the outset.
My colleague suggested that if I am purchasing in Cross Keys I should ask my conveyancer to perform a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
A search of this type is sometimes quoted for as part of the standard Cross Keys conveyancing searches. It is not a small document of more than thirty pages, listing and setting out significant information about Cross Keys around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Cross Keys Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average House Prices, Crime details, Local Education with plans and statistics, Local Amenities and other useful information regarding Cross Keys.
I am looking for a leasehold apartment up to £195,000 and found one round the corner in Cross Keys I like with a park and railway links in the vicinity, the downside is that it's only got 52 remaining years left on the lease. I can't really find anything else in Cross Keys in this price bracket, so just wondered if I would be making a mistake buying a short lease?
If you need a home loan the shortness of the lease will likely be a potential deal breaker. Discount the price by the expected lease extension will cost if it has not already been discounted. If the current proprietor has owned the property for at least 2 years you could ask them to commence the lease extension formalities and pass it to you. You can add 90 years to the current lease term and have £0 ground rent by law. You should consult your conveyancing solicitor concerning this matter.
I am thinking of appointing a conveyancing practitioner in Cross Keys for my house move. Is there any facility to see a firm’s record with the profession’s regulator?
You may read documented Solicitor Regulator Association (SRA) decisions stemming from inquisitions commenced on or after Jan 2008. Go to Check a solicitor's record. For information Pre 2008, or to check a firm's record, phone 0870 606 2555, 08.00 - 18.00 any week day save for Tuesday when lines open at 9.30am. For non-uk callers, call +44 (0)121 329 6800. The SRA sometimes recorded call for training requirements.
I’m about to sell my basement apartment in Cross Keys. Conveyancing solicitors are to be appointed soon, but I have recently received a quarterly service charge invoice – Do I pay up?
Your conveyancing lawyer is likely to suggest that you should pay the maintenance contribution as you normally would because all ground rent and service payments will be allotted on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most management companies will not acknowledge the buyer until the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.
I am the registered owner of a studio flat in Cross Keys, conveyancing formalities finalised 8 years ago. Can you give me give me an indication of the likely cost of a lease extension? Similar properties in Cross Keys with an extended lease are worth £195,000. The average or mid-range amount of ground rent is £45 yearly. The lease terminates on 21st October 2088
With only 63 years remaining on your lease we estimate the premium for your lease extension to be between £16,200 and £18,600 plus plus your own and the landlord's "reasonable" professional fees.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we are not able to advice on the actual costs in the absence of detailed due diligence. You should not use the figures in tribunal or court proceedings. There may be other concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Please do not take any other action based on this information without first seeking the advice of a professional.