Please could you recommend a Barclays allowed Duston conveyancing lawyer who can have us moved in within two weeks? Would it be better to use a high street Duston firm or a national firm?
We can recommend some very good Duston conveyancing firms. You can also walk up the main road in Duston. Visit two or three firms and ask to speak with a conveyancing solicitor for a costs illustration. Mention your expectations together with your reasons and get an assurance on speed. Appoint the lawyer that appears most efficient.
We wanted to use a property lawyer in Duston for our house purchase. Our broker has since notified us that our mortgage company National Westminster Bank won't deal with them. Surely this is unfair competition?
A decade ago most banks had a different appetite for risk. Almost all Duston conveyancing firms would have been on most bank panels. The FSA in 2010 conducted a thematic investigation into mortgage fraud which come to the conclusion: know the conveyancing solicitors dealt with. Consequently, lenders are increasingly seeing more information from law firms regarding their operations and the individuals who work for them and establishing certain criteria such a completing on a minimum amount of transactions. Many Duston conveyancing firms that have been excluded from lender panels have Unblemished track record, no complaints and no claims and didn't just 'dabble' in conveyancing. Duston is amongst the hundreds of locations where the lawyers we list are members of the panel for National Westminster Bank.
Me and my partner are purchasing a flat in Duston. It might be a silly question but how we can trust a lawyer? On completion day we have to deposit our life savings into their account. What is the protection we have from them run away with our money?
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.
My stepmother informed me that in buying a property in Duston there may be various restrictions limiting what one can do in terms of external changes to a property. Is this right?
There are anumerous of properties in Duston which have some sort of restriction or requirement of consent to external variations. Part of the conveyancing in Duston should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
I happen to be the only beneficiary of my late father’s will and I have everything in my name alone, including the house in Duston. Conveyancing formalities meant that the Land Registry date was in March. I now wish to sell up. I do know about the CML six month 'rule', which means that my property ownership could be considered the same way as though I had purchased the property in March. Will no one buy the property for half a year?
The Council of Mortgage Lenders’ handbook instructs solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you might be impacted by that. How sensible a view mortgage companies take of it, depend on the mortgage company as this requirement is primarily there to capture subsales or the flipping of property.
How does conveyancing in Duston differ for new build properties?
Most buyers of new build or newly converted property in Duston come to us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the residence is completed. This is because house builders in Duston tend to buy the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Duston or who has acted in the same development.
Due to the advice of my in-laws I had a survey completed on a property in Duston before retaining conveyancers. I have been told that there is a flying freehold overhang to the house. My surveyor has said that some mortgage companies will refuse to issue a loan on this type of home.
It varies from the lender to lender. Santander has different instructions for example to Nationwide. If you call us we can check via the appropriate bank. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Duston. Conveyancing may be slightly more expensive based on your lender's requirements.
I am employed by a reputable estate agent office in Duston where we have witnessed a number of leasehold sales derailed due to short leases. I have received conflicting advice from local Duston conveyancing solicitors. Please can you confirm whether the owner of a flat can start the lease extension formalities for the purchaser on completion of the sale?
As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer need not have to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or simultaneously with completion of the disposal of the property.
Alternatively, it may be possible to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.
I bought a studio flat in Duston, conveyancing formalities finalised August 2006. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Comparable properties in Duston with over 90 years remaining are worth £202,000. The average or mid-range amount of ground rent is £60 invoiced annually. The lease comes to an end on 21st October 2081
You have 56 years unexpired the likely cost is going to be between £29,500 and £34,000 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 are not able to advice on a more accurate figure in the absence of detailed investigations. You should not use this information in tribunal or court proceedings. There may be additional issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information before getting professional advice.