I am buying residence in Rednal. My Solicitor is not on the lender conveyancing panel. Am I still permitted to use my Rednal conveyancing solicitor notwithstanding that they are excluded from the lender list of approved lawyers?
You have a couple of alternatives available to you here
- Carry on with your chosen Rednal conveyancer but your lender will undoubtedly use a solicitor from their approved list. This will result in additional fees and likely frustration.
- Appoint a fresh conveyancing practitioner to conduct the conveyancing, ensuring that they are on the lender conveyancing panel.
- Appeal to your conveyancing practitioner to attempt to join the mortgage company panel
As someone with no idea as to the Rednal conveyancing process what is your top tip you can impart for the ownership transfer in Rednal
Not many law firms or advisers will tell you this but conveyancing in Rednal and elsewhere in Birmingham is an adversarial experience. In other words, when it comes to conveyancing there is plenty of room for friction between you and other parties involved in the ownership transfer. E.g., the seller, selling agent and on occasion the mortgage company. Selecting a lawyer for your conveyancing in Rednal is a critical decision as your conveyancer is your adviser, and is the SOLE person in the transaction whose responsibility is to look after your best interests and to keep you safe.
Sometimes a potential adversary will try and sway you that it is in your interests to do things their way. For instance, the property agent may claim to be assisting by suggesting your solicitor is wrong. Or your mortgage broker may tell you to do take action that is against your conveyancers advice. You should always trust your lawyer above all other parties when it comes to the legal transfer of property.
I purchased a terraced Edwardian house in Rednal. Conveyancing practitioner acted for me and Nationwide Building Society. I happened to do a free search for it on the Land Registry database and I saw two entries: the first freehold, another for leasehold with the matching property. Is it worth asking Nationwide Building Society to clarify?
You should review the Freehold register you have again and check the Charges Register as there may be 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 Rednal and other areas of 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 buyers. You can also enquire as to the position with the conveyancing solicitor who conducted the purchase.
Due to the guidance of my in-laws I had a survey completed on a property in Rednal ahead of retaining conveyancers. I have been informed that there is a flying freehold overhang to the house. My surveyor advised that some mortgage companies will not grant a mortgage on such a premises.
It varies from the lender to lender. HSBC has different requirements from Halifax. Should you wish to telephone us we can check with the relevant bank. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Rednal. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Rednal to see if the conveyancing will be more expensive.
I am using a search engine for the term cheap conveyancing in Rednal it shows results of many conveyancerslocally. With so much choice what is the best way to find the suitable conveyancing solicitor for purchase transaction?
The ideal method of finding the right conveyancer is via personal referral, so ask friends and relatives who have purchased a property in Rednal or the reputable estate agent or mortgage broker. Fees for conveyancing in Rednal differ, so it's a good idea to request a minimum of three quotes from varying types of law firms. Be sure to obtain confirmation what costs in the quote includes.
I am hoping to put an offer on a small detached house that seems to be perfect, at a great price which is making it all the more appealing. I have subsequently found out that it's a leasehold as opposed to freehold. I would have thought that there are issues purchasing a leasehold house in Rednal. Conveyancing advisers have not yet been instructed. Will they explain the issues?
Most houses in Rednal are freehold and not leasehold. This is one of the situations where having a local conveyancer who is familiar with the area who can assist with the conveyancing process. it is apparent that you are buying in Rednal in which case you should be shopping around for a Rednal conveyancing solicitor and be sure that they are used to dealing with leasehold houses. As a matter of priority you will need to check the number of years remaining. As a leaseholder you will not be at liberty to do whatever you want to the property. The lease comes with conditions such as obtaining the landlord’spermission to carry out changes to the property. You may also be required to pay a maintenance charge towards the maintenance of the communal areas where the property is located on an estate. Your lawyer should report to you on the legal implications.
I bought a 1 bedroom flat in Rednal, conveyancing having been completed January 2000. Can you work out an approximate cost of a lease extension? Similar flats in Rednal with an extended lease are worth £192,000. The average or mid-range amount of ground rent is £55 yearly. The lease finishes on 21st October 2076
With just 54 years unexpired the likely cost is going to range between £32,300 and £37,400 plus costs.
The figure above a general guide to costs for renewing a lease, but we cannot give you the actual costs in the absence of comprehensive investigations. Do not use the figures in a Notice of Claim or as an informal offer. There may be additional concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. You should not take any other action based on this information without first seeking the advice of a professional.