I am hoping to receive a mortgage with Lloyds. I intend to use a Licensed Conveyancer in Fairwater. Does the Lloyds Solicitor panel exclude Licensed Conveyancers?
The Lloyds approved solicitor list is, like many other lenders, associated to the CML or BSA, open to Licensed Conveyancers regulated by the CLC.
Are the BSA intent on creating a searchable register to to identify solicitors on the Loughborough BS conveyancing panel for example in Fairwater?
We have not been informed any intention on the part of the BSA to promote such a register.
We are purchasing a property and the lawyer has mentioned Chancel Repair for which the property may be obligated to contribute to given it’s proximity to the area of such a church. She has recommended insurance. Is this really required for conveyancing in Fairwater
Unless a prior purchase of the premises took place after 12 October 2013 you could take it that solicitors handling conveyancing in Fairwater to continue to recommend a chancel search and or insurance against a claim.
I have recentlyfound out that Arc property Solicitors have been shut down. They conducted my conveyancing in Fairwater for a purchase of a leasehold apartment 9 months ago. How can I check that the property is registered correctly in the name of the former proprietor?
The easiest method to check if the property is registered to you, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Fairwater conveyancing specialists.
We're novice buyers - agreed a price, but the selling agent advised that the owners will only move forward if we appoint their recommended conveyancers as they are insisting on an ‘expedited deal’. Our preferred option is to instruct a family solicitor used to conveyancing in Fairwater
It is highly unlikely the vendors are driving this. If they require ‘a quick sale', taking such a hostile approach to a genuine buyer is going to damage their objectives. Speak to the owners direct and explain that (a)you are keen to buy (b)you are ready to progress, with finances in place © you are unencumbered (d) you wish to move quickly (e)however you will continue to appoint your preferred Fairwater conveyancing lawyers - not the ones that will provide the estate agent a kickback or achieve conveyancing thresholds demanded by senior management.
I am looking at a couple of apartments in Fairwater both have about forty five years unexpired on the lease term. Should I regard a short lease as a deal breaker?
A lease is a right to use the property for a prescribed time frame. As the lease shortens the saleability of the lease decreases and it becomes more expensive to extend the lease. This is why it is often a good idea to increase the term of the lease. Sometimes it is difficult to sell a property with a short lease as mortgage lenders less inclined to grant a loan on properties of this type. Lease enfranchisement can be a protracted process. We recommend you seek professional assistance from a solicitor and surveyor with experience in this field.
I am the registered owner of a 1 bedroom flat in Fairwater, conveyancing having been completed half a dozen years ago. How much will my lease extension cost? Corresponding flats in Fairwater with an extended lease are worth £191,000. The ground rent is £55 invoiced every year. The lease runs out on 21st October 2073
With only 53 years left to run the likely cost is going to span between £27,600 and £31,800 plus plus your own and the landlord's "reasonable" professional fees.
The figure above a general guide to costs for extending a lease, but we are not able to provide a more accurate figure in the absence of comprehensive due diligence. Do not use the figures in tribunal or court proceedings. There may be other issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information without first seeking the advice of a professional.