I am acquiring a new build duplex in Forest of Dean and my conveyancer is advising me that she has to the bank to reveal incentives from the seller. I am on a tight deadline to sign contracts and my preference is not to prolong the conveyancing. is my lawyer playing by the book?
You should not exchange unless you have been advised to do so by your lawyer. A precondition to being on a lender panel is to comply with the UK Finance Lenders’ Handbook conditions. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
Do I need to visit the offices of the solicitor to execute the mortgage deed? If so, I will instruct a firm who offer conveyancing in Forest of Dean so that I can pop in to their offices when needed.
As opposed to ten years ago, almost all lenders no longer require their conveyancing panel lawyer to witness the mortgagors signature. It will still be necessary for you to supply identification documents and there are still manifest advantages to choosing a local solicitor, in your situation a conveyancing solicitor in Forest of Dean.
I used Stirling Law a few years past for my conveyancing in Forest of Dean. I now require my file however the law firm is no longer operating. What do I do?
You should contact the Solicitors Regulatory Authority (SRA) to assist in tracking down your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Forest of Dean of the conveyancing firm of solicitors you previously retained, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
About to purchase a new build apartment in Forest of Dean. 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 legal work.
Set out below is a sample of a selection of leasehold new build questions that you should expect your new-build leasehold conveyancing in Forest of Dean
There must be mutual enforceability of lessee’s covenants. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. Please provide evidence that the form of Lease proposed has been approved by the Land Registry. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? Please confirm the Lease plans are architect prepared.
What are your top tips when it comes to finding a Forest of Dean conveyancing practice to deal with our lease extension?
When appointing a solicitor for your lease extension (regardless if they are a Forest of Dean conveyancing firm) it is essential that they be familiar with the legislation and specialises in this area of work. We suggest that you talk with several firms including non Forest of Dean conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. The following questions could be helpful:
How experienced is the firm with lease extension legislation? How many lease extensions has the firm completed in Forest of Dean in the last 12 months?
I invested in buying a ground floor flat in Forest of Dean, conveyancing having been completed May 2007. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Comparable properties in Forest of Dean with a long lease are worth £227,000. The ground rent is £50 charged once a year. The lease comes to an end on 21st October 2093
You have 72 years unexpired we estimate the premium for your lease extension to span between £9,500 and £11,000 as well as legals.
The figure above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more comprehensive investigations. You should not use this information in tribunal or court proceedings. There may be other 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 based on this information before getting professional advice.
The financial adviser has suggested using their solicitor for the conveyancing in Forest of Dean - Surely it’s better to just instruct them?
It is worth checking if the estate agent is recommending a property lawyer or introducing to a conveyancing practitioner. There are plenty of Forest of Dean estate agents who recommend two or three Forest of Dean conveyancing firms and get nothing from it.