My husband and I are buying a 3 bedroom apartment in Fenny Stratford with a residential mortgage from Bank of Ireland.We would like to retain our Fenny Stratford conveyancing solicitor but Bank of Ireland informed us his firm is not on their "panel". We have to appoint a Bank of Ireland panel lawyer or retain our local solicitor and pay for one of their panel ones to represent them. We feel as though this is unjust; is there anything we can do?
No, not really. The mortgage issued to you is subject to its terms and conditions, one of which will be that solicitors will be on the Bank of Ireland conveyancing panel. Until recently, most mortgage companies had large numbers of law firms on their panels: a borrower could find one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your solicitors to apply to be on the conveyancing panel for Bank of Ireland
It has been five months following my purchase conveyancing in Fenny Stratford completed. I have checked the Land Registry site which shows that I paid £175,000 when infact I paid £170,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the property from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I am buying a new build apartment in Fenny Stratford. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.
Here is a sample of a few leasehold new build enquiries that you should expect your new-build leasehold conveyancing in Fenny Stratford
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Please provide evidence that the form of Lease proposed has been approved by the Land Registry. If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. Forfeiture - bankruptcy or liquidation must not apply under this provision. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore.
In what way can the Landlord & Tenant Act 1954 impact my business premises in Fenny Stratford and how can your lawyers assist?
The particular law that you refer to gives a safeguard to business leaseholders, giving them the legal entitlement to make a request to court for a continuation of occupancy when the lease reaches an end. There are limited grounds where a landlord can refuse a lease renewal and the rules are complex. We are happy to direct you to commercial conveyancing practices who use the act to your advantage and handle your commercial conveyancing in Fenny Stratford
We're first time buyers - had an offer accepted, but the selling agent has warned us that the vendor will only proceed if we use their chosen solicitors as they are insisting on a ‘quick sale’. Our preferred option is to instruct a family conveyancer with experience of conveyancing in Fenny Stratford
It is unlikely the owners are behind this. If they desire ‘a quick sale', turning down a serious buyer is going to damage their objectives. Try to communicate with the owners directly and make the point that (a)you are serious buyers (b)you are ready to progress, with mortgage lined up © you are unencumbered (d) you intend to proceed fast (e)however you will continue to use your own,trusted Fenny Stratford conveyancing solicitors - rather thanthe ones that will provide their estate agent a referral fee or achieve conveyancing targets pre-set by HQ.
I am hoping to put an offer on a small detached house that seems to be perfect, at a reasonable price which is making it all the more appealing. I have just found out that it's a leasehold as opposed to freehold. I would have thought that there are particular concerns buying a house with a leasehold title in Fenny Stratford. Conveyancing lawyers have are soon to be appointed. Will they explain the issues?
Most houses in Fenny Stratford are freehold rather than leasehold. This is one of the situations where having a local conveyancer who is familiar with the area who can help the conveyancing process. We note that you are buying in Fenny Stratford in which case you should be shopping around for a Fenny Stratford conveyancing solicitor and check that they have experience in advising on leasehold houses. First you will need to check the unexpired lease term. As a lessee you will not be at liberty to do whatever you want to the property. The lease comes with conditions for example obtaining the landlord’sconsent to conduct alterations. You may also be required to pay a maintenance charge towards the maintenance of the communal areas where the property is part of an estate. Your solicitor will advise you fully on all the issues.
I invested in buying a 1st floor flat in Fenny Stratford, conveyancing having been completed half a dozen years ago. Can you please calculate a probable premium for a statutory lease extension? Equivalent flats in Fenny Stratford with a long lease are worth £265,000. The ground rent is £50 levied per year. The lease finishes on 21st October 2099
With only 75 years remaining on your lease the likely cost is going to be between £8,600 and £9,800 plus professional fees.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more comprehensive due diligence. You should not use the figures in tribunal or court proceedings. There may be additional concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. You should not take any other action based on this information before getting professional advice.