My best friend’s dad is a conveyancer. I am hopeful that I will be offered preferential fee for conveyancing, However if that does not come through, what kind of costs should I be expecting for conveyancing in Handsworth?
Do compare pricing. Make use of our search tool on this page. Whilst quotes seem to vary but service levels do are distinct between conveyancers as is true with most professions.
Due to move into my new home in Handsworth next Tuesday. My solicitor now wants me to supply her with proof of content and building insurance for the property as he says that he has to check this in his capacity as lawyer for the mortgage company. What risks does the mortgage company expect the insurance to cover?
All property lawyers on acting for banks would need to check that the following risks are covered fire; lightning; aircraft; explosion; earthquake; storm; flood; escape of water or oil; riot; malicious damage; theft or attempted theft; falling trees and branches and aerials; subsidence; heave;landslip;collision;accidental damage to underground services;professional fees, demolition and site clearance costs; and public liability to anyone else. There are some other issues such as the level of excess that are set out in a lender’s Part 2 conditions. These obligations are not unique to conveyancing in Handsworth.
I am considering applying for a Kent Reliance mortgage for purchase of a new build (under development) in Handsworth with 60% loan to value. Is it compulsory to choose a solicitor on the conveyancing panel for Kent Reliance ?
In theory, you could use a solicitor that is not on the Kent Reliance conveyancing panel, but Kent Reliance would require one of their panel solicitors to be instructed to act in their interests, and you'd have to pay for this - so most people instruct a panel solicitor. It's also easier, as otherwise you'd have to deal with two solicitors for the same transaction.
In what way can the Landlord & Tenant Act 1954 affect my commercial premises in Handsworth and how can you help?
The particular law that you refer to gives protection to business lessees, giving them the a statutory right to make a request to court for a new tenancy and continue in occupation when the lease reaches an end. There are limited grounds where a landlord can refuse a lease renewal and the rules are complex. We are happy to direct you to commercial conveyancing firms who use the act to your advantage and handle your commercial conveyancing in Handsworth
I am looking at a couple of flats in Handsworth which have approximately fifty years remaining on the leases. Do I need to be concerned?
There is no doubt about it. A leasehold apartment in Handsworth is a deteriorating asset as a result of the shortening lease. The nearer the lease gets to zero years unexpired, the more it adversely affects the marketability of the property. For most buyers and lenders, leases with less than 75 years become less and less marketable. On a more upbeat 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 premises 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 Handsworth 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. You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. 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 inherited a leasehold flat in Handsworth, conveyancing was carried out half a dozen 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 Handsworth with a long lease are worth £197,000. The ground rent is £55 invoiced annually. The lease ceases on 21st October 2077
You have 55 years unexpired we estimate the premium for your lease extension to span between £31,400 and £36,200 as well as costs.
The figure above a general guide to costs for extending a lease, but we cannot give you the actual costs without more detailed investigations. Do not use the figures in tribunal or court proceedings. There are no doubt additional issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. Please do not take any other action based on this information before getting professional advice.
Finally our conveyancing in Handsworth is set to complete next Friday, however the sellers I am buying off wants to vacate on the Saturday midday. Can I accept this?
You can't complete on a Saturday because the bank systems aren't operational.