I have 70 years left on my lease and need a lease extension for my flat in Nailsea. Conveyancing solicitors on the Virgin panel can deal with such extensions right?
Most leasehold conveyancing experts should be able to deal with a lease extension. if you are securing a mortgage then your lender may insist that the lease be extended before competition. Virgin have specific requirements as set out in the UK Finance Lenders’ Handbook in relation to minimum unexpired lease terms. As of 19/4/2024 the requirements read as follows :
What does a local search inform me regarding the house my wife and I purchasing in Nailsea?
Nailsea conveyancing often starts with the applying for local authority searches directly from your local Authority or via a personal search organisations for instance Searches UK The local search plays an important role in many a Nailsea conveyancing purchase; that is if you don’t want any unpleasant surprises after you move into your new home. The search should provide information on, amongst other things, details on planning applications applicable to the property (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of 13 topic sections.
It has been 2 months following my purchase conveyancing in Nailsea took place. I have checked the Land Registry site which shows that I paid £150,000 when infact I paid £180,000. 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 asset 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.
I was advised by a few selling agents in Nailsea to locate a conveyancer on your site. Is there a financial advantage for Estate Agents to promote your services ahead of another?
We don’t make any financial incentive for directing people in our direction. We thought it would be too underhand a fee because members of the public would think, ‘How come the agent getting a kickback? Why am I not receiving any benefit too?’ We would prefer to grow our business on genuine recommendations.
We're new to the buying process - agreed a price, but the estate agent advised that the seller will only proceed if we instruct their recommended conveyancers as they want a ‘quick sale’. We would rather use a family solicitor used to conveyancing in Nailsea
We suspect that the owner is unaware of this request. If they desire ‘a quick sale', taking such a hostile approach to a motivated purchaser is not the way to achieve this. Try to communicate with the sellers directly and make the point that (a)you are keen to buy (b)you are ready to go, with mortgage lined up © you are unencumbered (d) you intend to proceed fast (e)but you will continue to use your own,trusted Nailsea conveyancing solicitors - rather thanthose that will give their negotiator at the agency a kickback or hit his conveyancing targets pre-set by head office.
I have just started marketing my 2 bed apartment in Nailsea. Conveyancing is yet to be initiated, however I have just had a quarterly service charge demand – what should I do?
Your conveyancing lawyer is likely to suggest that you should clear the invoice as normal as all ground rent and maintenance charges should be allotted on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the subsequent invoice date. Most management companies will not acknowledge the buyer until the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.
I purchased a split level flat in Nailsea, conveyancing formalities finalised half a dozen years ago. Can you let me have an estimated range of the fair premium for a lease extension? Equivalent flats in Nailsea with a long lease are worth £176,000. The average or mid-range amount of ground rent is £50 per annum. The lease ends on 21st October 2103
With 79 years remaining on your lease the likely cost is going to be between £8,600 and £9,800 plus legals.
The figure above a general guide to costs for renewing a lease, but we cannot give you the actual costs in the absence of detailed investigations. Do not use this information in tribunal or court proceedings. There may be additional concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information before getting professional advice.