Is the fact that my conveyancer in Radford is not identified on my lender's solicitor panel that there is a problem with the standard of her work?
That would most likely be a wrong assumption to make. There are all sorts of perfectly reasonable explanations. A recent report by the solicitors regulator revealed that over three quarters of law firms surveyed had been removed from at least one lender panel. The top 5 reasons are as follows: (1) lack of transactions (2) the solicitor is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. Should you be concerned you should simply call the Radford conveyancing firm and ask them why they are no longer on the approved list for your lender.
I require conveyancing for an apartment in a relatively new development (five years old) in Radford. The vast majority the flats have already been sold. Is it really necessary to order conveyancing searches for my conveyancing in Radford?
You would be putting yourself at risk in refusing to carrying out Radford conveyancing searches. Without searches you have no clarity over flooding, environmental etc which may mean you walk away due to potential problems down the line. If you are buying without a mortgage there is no legal requirement to have them, but we would absolutely advise in no uncertain terms that your conveyancer conducts them. If time pressures and price are primary issues you should discuss with your lawyer about the possibility of search insurance
My mortgage company has recommended a law firm on their panel based in Radford but I would rather choose a conveyancing lawyer in Radford local to me. Are you able to help?
The minority of Radford conveyancing practices are approved and listed on all lender’s conveyancing panel. Use our find an approved solicitor tool to locate a Radford conveyancing conveyancer on the on the bank panel.
Just had an offer accepted on a new build flat in Radford. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build legal work.
Here are examples of a few leasehold new build enquiries that you can expect your new-build leasehold conveyancing in Radford
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Please confirm the Lease plans are surveyor prepared. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. Please supply evidence that the form of Lease proposed has been approved by the Land Registry.
I have been pointed in your direction by numerous property agents in Radford to select a conveyancer using your seach tool. Is there a financial incentive for Estate Agents to offer your site over and above alternative conveyancing organisations?
We don’t offer any referral fee for pointing buyers and sellers our way. We found it would be just too difficult to pay a commission because members of the public would think, ‘How come the agent getting a kickback? Why am I not receiving any benefit too?’ So we decided to step away from that.
I am attracted to a two flats in Radford both have in the region of 50 years unexpired on the lease term. Should I regard a short lease as a deal breaker?
A lease is a legal document that entitles you to use the premises for a period of time. As the lease gets shorter the value of the lease deteriorates and results in it becoming more expensive to extend the lease. This is why it is often a good idea to extend the lease term. Sometimes it is difficult to sell a property with a short lease because mortgage companies may be reluctant to lend money on such properties. Lease extension can be a difficult process. We advise that you seek professional assistance from a solicitor and surveyor with experience in this arena.
I acquired a 2 bed flat in Radford, conveyancing having been completed 8 years ago. Can you work out an approximate cost of a lease extension? Comparable properties in Radford with an extended lease are worth £222,000. The ground rent is £50 charged once a year. The lease ceases on 21st October 2095
With 71 years remaining on your lease we estimate the premium for your lease extension to span between £9,500 and £11,000 plus professional fees.
The figure that we have given is a general guide to costs for renewing a lease, but we are not able to supply the actual costs in the absence of detailed investigations. Do not use this information in a Notice of Claim or as an informal offer. There may be other issues that need to be considered and clearly you should be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information before seeking the advice of a professional.