A mortgage agreement from HSBC for the remortgage of my 4 room flat is due by the end of next week. Are you able to recommend a low cost conveyancing law firm in Filton?
You are on the wrong site if you are seeking cut-price fees for conveyancing in Filton. Our aim is to provide value for money conveyancing but we do not aim to work with the cheapest lawyers. Avoid the trap of appointing brokers offering £99 conveyancing in Filton. The optimum outcome, in being led by low cost conveyancing, you will get your money’s worth and at worst you will end up with a surprising uplift in extras and still not get the service required.
I have just over seventy years left on my lease and require a lease extension for my flat in Filton. Conveyancing solicitors on the Virgin panel can deal with such extensions correct?
Most leasehold conveyancing experts should be able to deal with a lease extension. if you are obtaining a mortgage then your lender may insist that the lease be extended before competition. Virgin have specific requirements as set out in the UK Finance Lenders’ Handbook in relation to minimum unexpired lease terms. As of 20/6/2022 the requirements read as follows :
My wife and I are buying a flat in Filton. I might seem paranoid but how we can trust a lawyer? On completion day we will need to deposit funds into their account. What protection do 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.
is it true that all Filton solicitors on the Coventry BS conveyancing panel are governed by the Solicitors Regulatory Authority?
As a firm of solicitors, in order to be on the Coventry BS conveyancing panel they would need to be regulated by the SRA. Some mortgage companies do list licenced conveyancers on their panel in which case such firms would be regulated by the Council of Licensed Conveyancers.
We expect to receive a OIP from UBS this week so we can work out what to offer on a property we like as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc). Do UBS recommend any Filton solicitors on the UBS conveyancing panel, or is it better to go independently?
You will need to appoint Filton solicitors independently although you'll need to choose one on the UBS conveyancing panel. The solicitor represents both you and UBS through the process.
I got the keys to my flat on 16 November and my personal details are still not on the land registry website. Should I be concerned? My conveyancing solicitor in Filton expressed confidence that it will be dealt with in a couple of weeks. Are properties in Filton particularly slow to register?
There is nothing unique about conveyancing in Filton registration formalities. Rather than based on location, timescales can differ depending on the party submitting the application, whether it is in order and whether the Land registry communicate with any third parties. Currently roughly 80% of such applications are fully dealt with within 12 days but occasionally there can be longer delays. Registration occurs after the buyer has moved in to the premises thus 'speed' is not always an essential issue but if it is urgent that the the registration takes place urgently then you or your lawyers must communicate with the Registry to express the reasoning for an expedited registration.
We are 18 days into a freehold purchase having been referred to solicitors by the high street agent to handle our conveyancing in Filton. I am am extremely dissatisfied with the level of service. Could you help me find new conveyancers?
A solicitor would need to be really bad in order to consider diss instructing them. Has your mortgage offer been generated? If so you need to make them aware of the new solicitor and get the mortgage documents are re-sent. Your conveyancer should be on the mortgage company approved list to avoid supplemental charges and complications. So that should be your first question of the new lawyers. Our find a solicitor tool can help you find a lender approved solicitor for your conveyancing in Filton
I am tempted by the attractive purchase price for a two maisonettes in Filton both have in the region of 50 years unexpired on the leases. Will this present a problem?
There is no doubt about it. A leasehold apartment in Filton is a deteriorating asset as a result of the shortening lease. The nearer the lease gets to zero years unexpired, the more it reduces the marketability of the premises. The majority of buyers and banks, leases with under eighty years become less and less attractive. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of a residence with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Filton conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending the lease. They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that the agreed terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.
I acquired a split level flat in Filton, conveyancing formalities finalised 9 years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Corresponding properties in Filton with an extended lease are worth £175,000. The ground rent is £65 invoiced annually. The lease expires on 21st October 2080
You have 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 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 detailed due diligence. Do not use the figures in tribunal or court proceedings. There may be additional concerns 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.