Please help - my lawyer advises that lack of building regulations insurance is required on my purchase. What is the typical level of cover needed for conveyancing in Droitwich?
The right level of lack of building regulations indemnity insurance should be dictated by who who your lender is. It would differ for example between Santander and Bank of Scotland. Conveyancing solicitors as opposed to borrowers take out such insurances.
The formalities of my remortgage has taken place for my property in Droitwich. Conveyancing was satisfactory but I feel I should register my dissatisfaction about the lender. How do I make a complaint?
All lenders have complaints procedures. Your first point of contact should be one of the lender’s branches or the Customer Care Team at head office. Ordinarily complaints to a lender are sorted out very quickly. If you feel 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.
I've digested plenty of house buying guides, I note that they all recommend that you should get your house surveyed prior to buying it. When I asked my local Droitwich solicitor - who is on the HSBC conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. Is that normal?
HSBC will need an independent valuation of the property. Your lawyer will not arrange this. Usually HSBC will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. You may wish to consider appointing your own Droitwich surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
Do commercial conveyancing searches reveal planned roadworks that could impact a commercial estate in Droitwich?
Many commercial conveyancing solicitors in Droitwich will perform a SiteSolutions Highways report as it dramatically cuts the time that conveyancers spend in looking into accurate data on highways that impact buildings and development assets in Droitwich. The search result provides 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 Droitwich.
For every commercial conveyancing transaction in Droitwich it is crucial to investigate the adoption status of roads surrounding a site. Failure to identify developments where adoption procedures have not been addressed adequately could cause delays to Droitwich commercial conveyancing deals as well as present a risk to future plans for the site. These searches are not ordered for residential conveyancing in Droitwich.
I have been pointed in your direction by a few estate agents in Droitwich to locate a conveyancer on your site. Is there a financial advantage for Estate Agents to promote your lawyers over and above alternative conveyancing organisations?
We don’t offer any commission for pointing buyers and sellers in our direction. We found it would be just too difficult a fee because home movers will think, ‘How come the agent getting a kickback? Why aren’t I receiving any benefit too?’ We would prefer to grow our business on genuine recommendations.
We are 17 days into a residential purchase having been referred to solicitors by the selling agent to execute conveyancing in Droitwich. I am not happy. Can you help me find new lawyers?
They would need to be really bad to suggest replacing them. Has your mortgage been generated? If so you must advise them of the new contact details and have the offer are issued to the new lawyers. The solicitor ideally should be on the banks approved list to avoid escalating costs and delays. That should be your first question of the new solicitors. Our find a solicitor tool can assist you in finding a lender approved lawyer for your conveyancing in Droitwich
I wish to let out my leasehold flat in Droitwich. Conveyancing solicitor who did the purchase is retired - so can't ask her. Do I need to ask my freeholder for their consent?
Notwithstanding that your previous Droitwich conveyancing solicitor is not around you can review your lease to see if you are permitted to let out the property. The accepted inference is that if the lease is non-specific, subletting is permitted. Quite often there is a prerequisite that you must seek permission via your landlord or other appropriate person before subletting. The net result is you not allowed to sublet without prior permission. Such consent is not allowed to be unreasonably withheld. If your lease prohibits you from letting out the property you will need to ask your landlord for their consent.
I am the registered owner of a split level flat in Droitwich, conveyancing having been completed half a dozen years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Comparable flats in Droitwich with over 90 years remaining are worth £175,000. The average or mid-range amount of ground rent is £65 charged once a year. The lease ends on 21st October 2083
With only 58 years unexpired we estimate the premium for your lease extension to span between £23,800 and £27,400 as well as plus your own and the landlord's "reasonable" professional fees.
The figure above a general guide to costs for renewing a lease, but we cannot give you the actual costs without more detailed due diligence. 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 clearly you want to be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information without first getting professional advice.
I own a leasehold flat in Droitwich. Conveyancing was finalised in 2011. I have been told that I mustn’t allow the lease length get too short. Is this right?
Droitwich leasehold properties are for a set period - normally 99 years when they started. However many flats in Droitwich were built or converted in the 60’s and so such leases now have under eighty years remaining. That may sound like a long time but Banks, Building Societies and other mortgage companies generally need leases to have at least 75 years unexpired to be mortgageable. This means that when you come to sell the property you will need a lease extension if you are getting close to seventy five years. To optimize your property value you should be thinking about whether to extend your lease well in advance of selling the property. There are also strong financial reasons to doing so before the lease hits 80 years as when the lease is below 80 years the premium you have to pay to extend starts to escalate.