I am due to complete buying a property in Greenfield but as a result of damage from the recent storms I have managed to agree compensation from the current proprietors of £2k in the form of a reduction in the price. I had intended this to be dealt with as part of the conveyancing process yet Nottingham are not allowing this. Should they have been approached?
Any lawyer that is on the Nottingham approved list is obliged to disclose to Nottingham of any variations to the purchase price. If you prohibit your conveyancing practitioner to notify the price change to Nottingham then they would have to discontinue acting for you. In addition, Nottingham and you would have to appoint a new lawyer for your conveyancing in Greenfield.
Are the Greenfield conveyancing solicitors identified as being on the Coventry BS conveyancing panel, together with their details provided by Coventry BS?
Greenfield conveyancing firms themselves provide us confirmation that they are on the Coventry BS conveyancing panel as opposed to being supplied with a list from Coventry BS directly.
I am in the process of mortgaging my property in Greenfield, does my lawyer have to be on the Virgin Money Solicitor panel?
There is nothing to stop you using your solicitor, but Virgin Money will insist on their interests being represented by a firm on their conveyancing panel. There is much more potential for delays and confusion with two solicitors involved, and it will undoubtedly be more expensive too.
I have a semi-detached Georgian house in Greenfield. Conveyancing solicitor acted for me and The Mortgage Works. I happened to do a free search for it on the Land Registry database and I saw a couple of entries: the first freehold, the second leasehold with the exact same address. 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 owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Greenfield and other locations in the country and poses no real issues for owners other than when they mortgage they have to account for both freehold and leasehold interests when dealing with buyers. You can also enquire as to the position with the conveyancing practitioner who conducted the work.
Due to the advice of my in-laws I had a survey completed on a house in Greenfield ahead of appointing lawyers. I have been told that there is a flying freehold overhang to the house. Our surveyor advised that some banks will not grant a mortgage on a flying freehold premises.
It varies from the lender to lender. Santander has different instructions from Nationwide. If you contact us we can investigate further with the appropriate bank. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Greenfield. Conveyancing may be slightly more expensive based on your lender's requirements.
What advice can you give us when it comes to appointing a Greenfield conveyancing firm to carry out our lease extension conveyancing?
When appointing a conveyancer for your lease extension (regardless if they are a Greenfield conveyancing firm) it is most important that he or she should be familiar with the legislation and specialises in this area of conveyancing. We recommend that you speak with two or three firms including non Greenfield conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. The following questions might be useful:
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How familiar is the firm with lease extension legislation? If the firm is not ALEP accredited then why not?
I own a split level flat in Greenfield, conveyancing was carried out in 1995. How much will my lease extension cost? Comparable flats in Greenfield with an extended lease are worth £195,000. The average or mid-range amount of ground rent is £45 yearly. The lease runs out on 21st October 2088
With only 63 years left to run the likely cost is going to range between £16,200 and £18,600 as well as legals.
The figure that we have given is a general guide to costs for renewing a lease, but we are not able to provide a more accurate figure in the absence of comprehensive investigations. You should not use the figures in tribunal or court proceedings. There are no doubt additional issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Neither should you take any other action based on this information before getting professional advice.