I hired a high street solicitor for my conveyancing in Ripley last week. Upon checking the Terms and Conditions I seewe are responsible for fees even if the dealdoes not proceed. Should I ditch them and appoint a web based solicitor practice who offer no move no charge conveyancing in Ripley?
Generally there is a concession along the lines that if "No Completion No Fee" is available then the fee levels will generally be more expensive to neutralise the cases that do not proceed. Do bear in mind that these deals rarely protect you from disbursements such your Ripley conveyancing search fees.
My son-in-law is purchasing a newly built flat in Ripley with a mortgage from Santander. His solicitor has said that there is a delay in completing the ‘Disclosure of Incentive Form’. What is this document - I have never come across this before?
The form is intended to provide information to the main parties engaged in the transaction. Therefore, it will be provided to your son’s lawyer who should be on the Santander conveyancing panel as a standard part of the process, and to the valuer when requested. The developer will be required to start the process by downloading the form and completing it. The form will therefore need to be available for the valuer at the time of his or her site visit. The form should be sent to the Santander conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
Due to the encouragement of my in-laws I had a survey completed on a property in Ripley ahead of instructing lawyers. I have been informed that there is a flying freehold overhang to the house. Our surveyor advised that some mortgage companies will not give a mortgage on a flying freehold home.
It depends who your proposed lender is. Lloyds has different instructions for example to Birmingham Midshires. Should you wish to call us we can investigate further with the appropriate bank. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Ripley. Conveyancing may be slightly more expensive based on your lender's requirements.
Taking into account that I will soon part with 450k on a house in Ripley I wish to have a conversation with the lawyer concerning thehouse move ahead of giving the go ahead to the firm. Can this be arranged?
This is something that we encourage - it is our preference to talk to you we do not take any clients on without you liaising with the solicitor due to be conducting your property ownership legalities in Ripley.There is no ‘factory style conveyancing’ - each client is unique person, not a file number. The law firms that we put you in touch with believe that the fees you are quoted for your conveyancing in Ripley should be the amount on the final invoice that you end up paying.
I am looking at a couple of apartments in Ripley which have approximately fifty years unexpired on the leases. Should I regard a short lease as a deal breaker?
There are no two ways about it. A leasehold apartment in Ripley is a wasting asset as a result of the reducing lease term. The nearer the lease gets to its expiry date, the more it reduces the value of the premises. For most buyers and lenders, leases with under eighty years become less and less marketable. On a more upbeat note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of premises with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Ripley conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending the lease. You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that the agreed terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.
I am the registered owner of a ground floor flat in Ripley, conveyancing having been completed in 2007. Can you shed any light on how much the price could be for a 90 year extension to my lease? Corresponding properties in Ripley with an extended lease are worth £180,000. The average or mid-range amount of ground rent is £65 invoiced every year. The lease runs out on 21st October 2082
You have 59 years unexpired we estimate the price of your lease extension to span between £20,900 and £24,200 as well as professional fees.
The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more detailed investigations. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt 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 based on this information without first seeking the advice of a professional.
Is it true that a Ripley conveyancing firm got sued by clients for failing to conduct the appropriate conveyancing investigations?
Our attention has not be brought to such a Ripley conveyancing matter but according to a recent report, a couple purchasing a property in Cumbria successfully sued their conveyancing practitioner as a consequence of development permission to build a wind farm failing to be identified in conveyancing searches.
If you are purchasing in Ripley It is critical that your solicitor carry out all Ripley conveyancing searches necessary to ensure you have relevant and up to date information before acquiring a property.