My lawyer has uncovered a defect with the lease for the property we are buying in Fairbourne. The other side have put forward title insurance as a workaround. We are happy with insurance and will pay for it. Our conveyancer says that he must check that the bank is content with this solution. Are we the client or is the mortgage company ?
Even though you have a mortgage offer from the bank does not mean to say that the property will meet their specifications for the purposes of a mortgage. Your lawyer has to ensure that the lease has to comply with the UK Finance Lenders’ Handbook provisions. You and the lender are the client. These conveyancing instructions must be adhered to.
What will a local search inform me regarding the property we're purchasing in Fairbourne?
Fairbourne conveyancing often commences with the ordering local authority searches directly from your local Authority or through a personal search company for example Searches UK The local search plays a central part in most Fairbourne conveyancing purchase; that is if you wish to avoid any nasty surprises after you move into your new home. The search will supply information on, amongst other things, details on planning applications relevant to the premises (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of thirteen topic headings.
I used Stirling Law several years ago for my conveyancing in Fairbourne. I now require my papers however the law firm has closed. What do I do?
You should contact the Solicitors Regulatory Authority (SRA) to help locate your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Fairbourne of the conveyancing firm of solicitors you previously used, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
I'm remortgaging my current property to a buy to let loan with Britannia and intend to use the remaining equity towards further house. The location we are talking about is Fairbourne. Will your solicitors be able to act for both sets of banks and link together the transactions?
Make use of our search tool on this page to be sure that the conveyancers are on the relevant lender panels. On the basis that they are the solicitor will be able to tie up the two transactions but you should talk with you conveyancer and make clear your expectations and requirements.
We're FTB’s - had an offer accepted, but the selling agent told us that the seller will only proceed if we appoint the agent's chosen conveyancers as they want an ‘expedited deal’. My instinct tells me that we should use a family solicitor who is familiar with conveyancing in Fairbourne
It is unlikely the vendors are behind this. If they desire ‘a quick sale', turning down a motivated buyer is counter productive. Avoid the agents and go straight to the sellers and explain that (a)you are serious buyers (b)you are ready to go, with mortgage lined up © you do not need to sell (d) you wish to move quickly (e)however you intend to use your preferred Fairbourne conveyancing lawyers - rather thanthose that will provide the estate agent a introducer fee or hit his conveyancing thresholds demanded by head office.
I am hoping to put an offer on a small detached house that appears to be perfect, at a great price which is making it all the more appealing. I have subsequently been informed that it's a leasehold as opposed to freehold. I would have thought that there are particular concerns purchasing a house with a leasehold title in Fairbourne. Conveyancing advisers have not yet been instructed. Will my lawyers set out the implications of buying a leasehold house in Fairbourne ?
Most houses in Fairbourne are freehold rather than leasehold. This is one of the situations where having a local conveyancer who is familiar with the area who can assist with the conveyancing process. We note that you are purchasing in Fairbourne in which case you should be shopping around for a Fairbourne conveyancing solicitor and check that they have experience in advising on leasehold houses. First you will need to check the number of years remaining. As a tenant you will not be entirely free to do whatever you want with the house. The lease comes with conditions for example obtaining the freeholder’spermission to carry out alterations. It may be necessary to pay a contribution towards the maintenance of the estate where the house is located on an estate. Your solicitor should appraise you on the various issues.
I am the registered owner of a 1st floor flat in Fairbourne, conveyancing formalities finalised May 2012. How much will my lease extension cost? Equivalent flats in Fairbourne with an extended lease are worth £195,000. The ground rent is £45 yearly. The lease terminates on 21st October 2087
With only 63 years unexpired we estimate the premium for your lease extension to be between £16,200 and £18,600 as well as legals.
The suggested premium range above a general guide to costs for extending a lease, but we are not able to provide the actual costs in the absence of 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 taken into account and clearly you want to be as accurate as possible in your negotiations. You should not move forward based on this information without first getting professional advice.