Our solicitor has discovered a a legal deficiency with the lease for the property we are buying in Hereford. The seller’s lawyers have suggested defective title insurance as a workaround. We are content with insurance and will cover the costs. Our conveyancing practitioner says that he must check that the bank is happy with this solution. Who is the client here, us or the bank?
Notwithstanding that you have a mortgage offer from the lender 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 requirements. You and the mortgage company are the client. The appropriate lender conditions must be adhered to.
How up to date is your search tool for Hereford conveyancing solicitors on the Yorkshire BS conveyancing panel? Do Yorkshire BS send you an updated list?
Hereford conveyancing firms themselves provide us confirmation that they are on the Yorkshire BS conveyancing panel as opposed to being supplied with a list from Yorkshire BS directly.
I am purchasing a garden flat in Hereford. How practical is it for me to do the conveyancing?
Leaving aside the complexities and merits of DIY conveyancing in Hereford you will have to appoint a solicitor on your mortgage company's conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to be made in you doing conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on your lender panel in Hereford.
four months have gone by following my purchase conveyancing in Hereford concluded. I have checked the Land Registry site which shows that I paid £150,000 when infact I paid £160,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the premises from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
My husband and I are new on the property ladder - had an offer accepted, yet the selling agent informed us that the seller will only proceed if we use the agent's recommended solicitors as they want an ‘expedited deal’. We would rather use a family solicitor accustomed to conveyancing in Hereford
It is highly unlikely the sellers are driving this. If they require ‘a quick sale', taking such a hostile approach to a motivated buyer is not the way to achieve this. Avoid the agents and go straight to the owners and explain that (a)you are keen to buy (b)you are ready to go, with finances arranged © you have nothing to sell (d) you wish to move quickly (e)but you are going to use your preferred Hereford conveyancing solicitors - not the ones that will provide the estate agent a introducer fee or hit his conveyancing figures pre-set by head office.
Having checked my lease I have discovered that there are only Fifty years left on my flat in Hereford. I am keen to extend my lease but my landlord is can not be found. What options are available to me?
If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order 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 prove that you have done all that could be expected to find the freeholder. In some cases a specialist would be useful to conduct investigations and prepare an expert document which can be accepted by the court as proof that the landlord can not be located. It is wise to seek advice from a property lawyer in relation to devolving into the landlord’s disappearance and the vesting order request to the County Court covering Hereford.
I invested in buying a leasehold flat in Hereford, conveyancing formalities finalised February 2008. How much will my lease extension cost? Equivalent properties in Hereford with an extended lease are worth £186,000. The ground rent is £55 yearly. The lease ceases on 21st October 2076
You have 53 years remaining on your lease the likely cost is going to span between £27,600 and £31,800 plus costs.
The figure above a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of comprehensive due diligence. You should not use this information in a Notice of Claim or as an informal offer. There may be additional issues that need to be considered and you obviously should be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information before seeking the advice of a professional.