My lawyer has identified a a legal deficiency with the lease for the apartment we are purchasing in Fir Vale and Wadsley Bridge. The other side have suggested defective title insurance as a solution. We are happy with insurance and will pay for it. Our lawyer has advised that he must check that the mortgage company is happy 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 conditions for the purposes of a mortgage. Your lawyer has to ensure that the lease has to comply with the UK Finance Lenders’ Handbook specifications. You and the mortgage company are the client. These conveyancing instructions must be adhered to.
I am purchasing a property and require a conveyancing solicitor in Fir Vale and Wadsley Bridge who is on the Santander approved. Could you point me in the right direction as regards a firm?
Our service is limited to being a directory service for firms who wish to listed as being on the approved conveyancing panel for Santander in certain locations such as Fir Vale and Wadsley Bridge. We dont recommend any particular firm.
Me and my partner are buying a house in Fir Vale and Wadsley Bridge. It might be a silly question but how we can trust a solicitor? On completion day we have to send money into their account. What is the protection we have from them run away with our monies?
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.
I am buying a victorian detached house in Fir Vale and Wadsley Bridge. Our aim is to convert the garage to an office at the property.Will legal conveyancing on the property involve enquiries to ascertain if these works are permitted?
Your property lawyer should review the registered title as conveyancing in Fir Vale and Wadsley Bridge can occasionally reveal restrictions in the title deeds which prevent categories of changes or necessitated the permission of a 3rd party. Many extensions need local authority planning consent and approval in compliance with building regulations. Many areas are designated conservation areas and special planning restrictions apply which often prevent or impact extensions. You should check these issues with a surveyor before you commit yourself to a purchase.
Skipton have agreed my home loan in principle, my bid on a house in Fir Vale and Wadsley Bridge has been accepted, what happens next?
The property agent will want to be informed of your property lawyer's details (be sure the lawyers are on the lender’s panel). Call up Skipton or your financial adviser and finalise any outstanding forms. Skipton will sellect a valuer who will get in contact with the selling agent or vendor to arrange an appointment. Once conducted (assuming no problems) it takes on average ten days for the mortgage offer to be issued. Skipton will issue the offer to you and your conveyancers. The transaction will then take it’s course according the nature and complexity of the conveyancing in Fir Vale and Wadsley Bridge.
Over the last few months I have been searching for a ground for flat up to £245,000 and identified one round the corner in Fir Vale and Wadsley Bridge I like with a park and station nearby, the downside is that it's only got 49 remaining years left on the lease. There is not much else in Fir Vale and Wadsley Bridge for this price, so just wondered if I would be making a mistake purchasing a lease with such few years left?
Should you require a home loan the remaining unexpired lease term will be an issue. Discount the offer by the expected lease extension will cost if not already taken into account. If the current owner has owned the property for a minimum of twenty four months you could ask them to start the process of the extension and then assign it to you. You can add 90 years to the existing lease term with a zero ground rent applied. You should speak to your conveyancing solicitor about this matter.
I need to appoint a conveyancing solicitor for remortgage conveyancing in Fir Vale and Wadsley Bridge. I have stumble across a site which appears to be the perfect solution If it is possible to get all the legals completed via email that would be preferable. Do I need to be concerned? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
I am employed by a busy estate agent office in Fir Vale and Wadsley Bridge where we have experienced a number of leasehold sales derailed due to short leases. I have been given conflicting advice from local Fir Vale and Wadsley Bridge conveyancing solicitors. Please can you shed some light as to whether the vendor of a flat can instigate the lease extension formalities for the purchaser on completion of the sale?
Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser 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 before, or simultaneously with completion of the sale.
An alternative approach is to agree the lease extension with the freeholder 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 invested in buying a split level flat in Fir Vale and Wadsley Bridge, conveyancing having been completed half a dozen years ago. How much will my lease extension cost? Similar properties in Fir Vale and Wadsley Bridge with over 90 years remaining are worth £211,000. The ground rent is £45 charged once a year. The lease expires on 21st October 2093
With only 68 years unexpired we estimate the premium for your lease extension to range between £9,500 and £11,000 plus 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 provide the actual costs in the absence of detailed due diligence. Do not use the figures in tribunal or court proceedings. There are no doubt additional issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Neither should you take any other action based on this information without first seeking the advice of a professional.