Am I correct in assuming that the fact that my conveyancer in Redruth is not on my lender's solicitor panel that there is a problem with the standard of her conveyancing?
That is most likely an incorrect assumption to make. There are all sorts of perfectly reasonable explanations. Just recently a report by the solicitors regulator revealed that over three quarters of law firms surveyed had been removed from at least one lender panel. The most common reasons for removal are: (1) lack of transactions (2) the lawyer 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 contact the Redruth conveyancing firm and enquire why they are no longer on the approved list for your mortgage company.
Can you explain why leasehold purchase conveyancing in Redruth is more expensive?
In short, leasehold conveyancing in Redruth and elsewhere usually warrants more due diligence compared to freehold conveyancing. This includes analysing the lease terms, communicating with the landlord concerning serving applicable notices, obtaining current service charge and management information, procuring the landlord’s consents and reviewing management accounts. The obligations on both the landlord and the tenant in the lease need to be studied by the buyer’s conveyancing team and read from beginning to end – no matter how many different leaseholders have owned the lease since it was first granted.
I have justbeen informed that Action Conveyancing have closed. They carried out my conveyancing in Redruth for a purchase of a leasehold flat 10 months ago. How can I check that my home is not still registered in the name of the previous owner?
The quickest way to see if the property is in your name, you can make 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 Redruth conveyancing specialists.
I am purchasing my first flat in Redruth with the aid of help to buy. The developers would not budge the amount so I negotiated £7000 of fixtures and fittings instead. The property agent advised me not reveal to my solicitor about this side-deal as it would affect my mortgage with the bank. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the builder 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.
What does commercial conveyancing in Redruth cover?
Redruth conveyancing for business premises incorporates a wide range of advice, supplied by qualified solicitors, relating to business property. For instance, this type of conveyancing can cover the sale or purchase of freehold business premises or, more usually, the assignment of existing leases or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial loans and the termination of leases.
I am hoping to complete next month on a ground floor flat in Redruth. Conveyancing solicitors assured me that they will have a report out to me next week. What should I be looking out for?
Your report on title for your leasehold conveyancing in Redruth should include some of the following:
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Are you allowed to have a pet in the flat? Whether the landlord has obligations to ensure rights of quiet enjoyment over your property and do you know what it means in practice? Who has the liability for maintaining the window frames You should be sent a copy of the lease Rent payments - what is payable and when is collected, and be on notice if this will change in the future
I purchased a 1 bedroom flat in Redruth, conveyancing formalities finalised 5 years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Corresponding properties in Redruth with a long lease are worth £176,000. The ground rent is £50 per annum. The lease comes to an end on 21st October 2105
You have 80 years unexpired we estimate the premium for your lease extension to be between £8,600 and £9,800 as well as legals.
The suggested premium range 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 tribunal or court proceedings. There are no doubt additional issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. You should not move forward placing reliance on this information without first getting professional advice.