Forgive me if this question is silly but I am unexperienced as a 1st time purchaser of a ground floor flat in Ledbury. Do I receive the keys to the property on the completion date from my lawyer? If this is the case, I will use a High Street conveyancing solicitor in Ledbury?
There is no need to visit the lawyers office on the day of completion. Conveyancing lawyers for you will arrange to send the completion advance to the vendor’s conveyancers, and shortly after the monies have arrived, you will be able to receive the keys from the Estate Agents and start moving into the property. Usually this happens between 1 and 3pm.
Is it correct that all Ledbury CQS (Conveyancing Quality Scheme) solicitors are on the Skipton conveyancing panel?
Some major banks and building societies now use the accreditation scheme as the kick off point for Panel approval such as HSBC and Santander. CQS accreditation however is no guarantee to lender panel acceptance. That being said,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for solicitor practices wishing to remain on their approved list of firms.
I was told four weeks ago that my mortgage has been agreed to by Clydesdale. Is it usual for Clydesdale to only issue the offer once my solicitor in Ledbury is approved on their conveyancing panel? Clydesdale have asked my solicitor to see a copy of their PI Insurance.
A lender would not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for Clydesdale to deal with your lawyer's application to be on the Clydesdale conveyancing panel. There's no guarantee that your solicitor will be accepted.
We are selling our home in Ledbury and according to the buyers it appears that there is a possibility that the property was built land that was not decontaminated. A local conveyancer would know that there is no such problem. It does beg the question why the buyers instructed a factory type conveyancing outfit as opposed to a conveyancing solicitor in Ledbury. Having lived in Ledbury for many years we know of no issue. Should we get in touch with our local Authority to seek confirmation that there is no issue.
It sounds as though you may have a conveyancing solicitor currently acting for you. Are they able to advise? You should check with your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out life insurance to cover that same illness)
I have justbecome aware that Action Conveyancing have been shut down. They conducted my conveyancing in Ledbury for a purchase of a leasehold flat 18 months ago. How can I be sure that the property is not still registered in the name of the previous owner?
The easiest method to check if the property is registered to you, you can carry out a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Ledbury conveyancing specialists.
I am purchasing a new build house in Ledbury benefiting from help to buy. The sellers refused to reduce the amount so I negotiated five thousand pounds worth of additionals instead. The sale representative suggested that I not disclose to my lawyer about the extras as it may put at risk my loan with Accord Mortgages Ltd. Is this normal?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I opted to have a survey done on a property in Ledbury ahead of retaining conveyancers. I have been told that there is a flying freehold element to the house. Our surveyor has said that some lenders tend refuse to give a mortgage on such a house.
It depends who your proposed lender is. Santander has different instructions for example to Nationwide. Should you wish to call us we can look into this further via the appropriate lender. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Ledbury. Conveyancing may be slightly more expensive based on your lender's requirements.
Back In 2004, I bought a leasehold house in Ledbury. Conveyancing and Nottingham Building Society mortgage went though with no issue. I have received a letter from someone claiming to own the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1996. The conveyancing practitioner in Ledbury who previously acted has long since retired. What should I do?
First contact the Land Registry to make sure that this person is in fact the registered owner of the freehold reversion. You do not need to incur the fees of a Ledbury conveyancing lawyer to do this as it can be done on-line for a few pound. Rest assured that in any event, even if this is the legitimate landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I am the registered owner of a 1st floor flat in Ledbury, conveyancing having been completed 8 years ago. Can you please calculate a probable premium for a statutory lease extension? Corresponding flats in Ledbury with an extended lease are worth £202,000. The ground rent is £60 levied per year. The lease ends on 21st October 2078
With 57 years remaining on your lease we estimate the premium for your lease extension to be between £28,500 and £33,000 as well as costs.
The suggested premium range above a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more comprehensive investigations. Do not use the figures in a Notice of Claim or as an informal offer. There may be other concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. Please do not move forward based on this information without first seeking the advice of a professional.