We note that you have a post code search directory listing firms on the Coventry BS conveyancing panel. Do firms pay you a commission if I instruct them for our own conveyancing in Ladywell?
We are a listing service only for law firms wishing to communicate if they are on the Coventry BS conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Ladywell.
My lawyer in Ladywell has never been on on the Barnsley Building Society Approved Panel. Is it possible for me to use my prefered solicitor notwithstanding that they are excluded from the Barnsley Building Society panel of approved conveyancing solicitors?
Your options are as follows:
- Carry on with your existing Ladywell lawyers but Barnsley Building Society will need to instruct a solicitor on their panel. This will inevitably rack up the overall conveyancing charges as well as result in frustration.
- Find an alternative solicitor to act in the conveyancing, remembering to check they are Barnsley Building Society approved.
- Try to convince your Barnsley Building Society based solicitor to try to join the Barnsley Building Society panel
Various web forums that I have come across warn that are a common cause of hinderance in Ladywell conveyancing transactions. Is this right?
The Council of Property Search Organisations (CoPSO) has noted the findings of a review by MoveWithUs that conveyancing searches do not feature within the top 10 causes of delays during the legal transfer of property. Local searches are not likely to feature in any delay in conveyancing in Ladywell.
My wife and I have a terraced Victorian house in Ladywell. Conveyancing practitioner acted for me and Barnsley Building Society. I happened to do a free search for it on the Land Registry database and there are two entries: one for freehold, another for leasehold with the exact same property. I thought I was buying a freehold how can I check?
You should assess 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 proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Ladywell and other locations in the country and poses no real issues for owners other than when they remortgage they have to account for both freehold and leasehold interests when dealing with purchasers. You can also question the position with the conveyancing lawyer who conducted the work.
Over the last few months I have been searching for a flat up to £195,000 and found one round the corner in Ladywell I like with amenity areas and railway links nearby, the downside is that it's only got 49 years on the lease. There is not much else in Ladywell in this price bracket, so just wondered if I would be making a grave error acquiring a short lease?
Should you require a mortgage that many years may be problematic. Reduce the price by the anticipated lease extension will cost if not already taken into account. If the current owner has owned the property for at least twenty four months you could ask them to start the process of the extension and then assign it to you. An additional ninety years can be extended on to the current lease with a zero ground rent applied. You should consult your conveyancing lawyer concerning this.
I am employed by a reputable estate agency in Ladywell where we have witnessed a number of leasehold sales put at risk due to short leases. I have been given conflicting advice from local Ladywell conveyancing solicitors. Can you clarify whether the seller of a flat can start the lease extension process for the purchaser on completion of the sale?
As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser need not have to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or simultaneously with completion of the sale.
Alternatively, it may be possible to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.
I have had difficulty in trying to purchase the freehold in Ladywell. Can this matter be resolved via the Leasehold Valuation Tribunal?
in cases where there is a absentee freeholder or if there is disagreement about the premium for a lease extension, under the relevant statutes you can apply to the Leasehold Valuation Tribunal to arrive at the price payable.
An example of a Freehold Enfranchisement decision for a Ladywell flat is 44 Elmer Road in January 2013. The Tribunal dacied that amount to be paid by the Leaseholders for the Landlords freehold reversion was £12,951 as at the valuation date (20" September 2012).This matter was referred back to the Bromley County Court to deal with costs, fees and any other outstanding matters. This case affected 2 flats. The number of years remaining on the existing lease(s) was 74.25 years.