The Kimbolton conveyancing solicitors that I recently instructed on my purchase in Kimbolton have suddenly closed. I only went with them because I had to have a firm on the Clydesdale conveyancing panel and my family Kimbolton lawyer was not. I paid them funds on account. What are my options?
If you have an estate agent involved then let them know immediately so that they can let the sellers know that there may be a slight delay due to reasons beyond your control. Hopefully they will be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You will need to appoint new lawyers that are on the Clydesdale conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new lawyers should be in a position to assist.
I completed on my home on 11 July and my personal details is yet to be registered. Any reason for this? My conveyancing solicitor in Kimbolton advises it would be dealt with in a couple of weeks. Are properties in Kimbolton uniquely lengthy to register?
As far as conveyancing in Kimbolton registration is no quicker or slower than anywhere else in England and Wales. Rather than based on location, timescales can differ according to who lodges the application, whether it is in order and if the Land registry need to notify any other persons or bodies. As of today approximately three quarters of such applications are fully dealt with in less than three weeks but occasionally there can be protracted hold-ups. Historically registration occurs after the new owner has moved in to the property so registration formalities is not always an essential issue but if it is urgent that the the registration takes place urgently then you or your lawyers could speak with the land registry and explain the circumstances.
Yesterday I discovered that there is a flying freehold issue on a house I put an offer in two weeks back in what was supposed to be a simple, chain free conveyancing. Kimbolton is where the house is located. Can you offer any guidance?
Flying freeholds in Kimbolton are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Kimbolton you must be sure that your lawyer goes through the deeds diligently. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Kimbolton may decide 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.
My uncle has urged me to instruct his conveyancing solicitors in Kimbolton. Do I follow his guidance?
There are no two ways about it it’s preferable to choose a conveyancing practitioner is to get feedback from friends or relatives who have experience in using the conveyancer you're considering.
What advice can you give us when it comes to appointing a Kimbolton conveyancing firm to deal with our lease extension?
If you are instructing a solicitor for lease extension works (regardless if they are a Kimbolton conveyancing practice) it is imperative that they be familiar with the legislation and specialises in this area of work. We recommend that you make enquires with several firms including non Kimbolton conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. The following questions might be helpful:
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How experienced is the practice with lease extension legislation? What are the charges for lease extension work?
I bought a leasehold flat in Kimbolton, conveyancing was carried out January 2002. Can you let me have an estimated range of the fair premium for a lease extension? Comparable properties in Kimbolton with a long lease are worth £181,000. The ground rent is £55 invoiced every year. The lease expires on 21st October 2076
With just 51 years unexpired the likely cost is going to be between £30,400 and £35,200 plus plus your own and the landlord's "reasonable" professional fees.
The figure above 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 the figures in a Notice of Claim or as an informal offer. There are no doubt additional concerns 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.
Why can I not complete our conveyancing in Kimbolton on Good Friday?
Because on completion the funds will be transferred electronically between the banks of the buyer and owner’s conveyancing practitioner and currently this can only take place on a working day. It is not possible to complete on a weekend either.