I am selling my flat in Flackwell Heath and the estate agent has just text me to advise that the buyers are appointing a new law firm. The reason given is that the bank will only work with solicitors on their approved list. On what basis would a leading mortgage company only work with specific law firms rather the firm that they want to choose for their conveyancing in Flackwell Heath ?
Mortgage companies have always had an approved set of law firms they are willing to work with, but in recent years big names such as Santander, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for decades.
Banks point to the increase in fraud by way of justification for the cull – criteria have been narrowed as a smaller panel is easier to oversee. Banks tend not to reveal how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society claims that it is hearing daily from firms that have been removed from panels. Plenty of firms are unaware that they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. The buyers are not going to have any impact on this.
I purchased a renovated Georgian property in Flackwell Heath. Conveyancing practitioner acted for me and Birmingham Midshires. I did a free Land Registry search last week and I saw a couple of entries: the first freehold, the second leasehold under the matching property. If a house is not a freehold shouldn't I have been informed?
You need to review the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Flackwell Heath and other locations in the country and poses no real issues for owners other than when they buy they have to account for both freehold and leasehold interests when dealing with buyers. You can also enquire as to the position with your conveyancing lawyer who conducted the purchase.
Yesterday I discovered that there is a flying freehold issue on a house I have offered on last month in what should have been a straight forward, chain free conveyancing. Flackwell Heath is where the house is located. Can you shed any light on this issue?
Flying freeholds in Flackwell Heath are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Flackwell Heath you would need to get your solicitor to go through the deeds very carefully. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Flackwell Heath may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
I am using a search engine for the words cheap conveyancing in Flackwell Heath it reveals many property lawyersin the area. With so much choice what is the best way to find the suitable property lawyer for me?
The preferential way of seeking the right conveyancer is via trusted referral, so seek the guidance of colleagues and relatives who have acquired a property in Flackwell Heath or the reputable estate agent or mortgage broker. Costs for conveyancing in Flackwell Heath differ, so it's a good idea to secure a minimum of three quotes from varying types of solicitors. Be sure to obtain confirmation what costs in the quote includes.
Having checked my lease I have discovered that there are only 62 years unexpired on my lease in Flackwell Heath. I now want to extend my lease but my landlord is absent. What should I do?
If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will mean that your lease can be extended by the Court. However, you will be required to demonstrate that you have used your best endeavours to find the freeholder. In some cases an enquiry agent should be useful to try and locate and prepare a report which can be used as evidence that the freeholder is indeed missing. It is wise to seek advice from a conveyancer in relation to proving the landlord’s disappearance and the application to the County Court covering Flackwell Heath.
I own a ground floor flat in Flackwell Heath, conveyancing having been completed 6 years ago. Can you work out an approximate cost of a lease extension? Similar properties in Flackwell Heath with a long lease are worth £192,000. The ground rent is £55 levied per year. The lease terminates on 21st October 2079
With just 54 years unexpired the likely cost is going to range between £32,300 and £37,400 as well as professional fees.
The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs without more comprehensive due diligence. You should not use this information in tribunal or court proceedings. There may be additional concerns that need to be taken into account and clearly you want to 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.
Developers have suggested I use a lawyer and I've sought an estimate from them. They are nearly £400 less expensive than my preferred Flackwell Heath conveyancer. What's the catch?
Developers frequently have panels of solicitors who expedite matters and who know the developer’s documentation and lawyer. Plenty of developers offer an incentive to select a preferred property lawyer for this reason, any increased fees can be avoided and a builder will not put forward a conveyancing factory and run the risk of having the conveyancing delayed when they require an exchange within a tight time frame. A counter-argument for not opting for the suggested solicitor is that they may prove reluctant to fight for your interests for fear of upsetting the sellers. If you worry that this may be the case you should remain with your local Flackwell Heath conveyancer.