We note that you have a search directory listing solicitors on the Principality conveyancing panel. Do firms pay you a commission if I retain them for our own conveyancing in Shepshed?
We are a listing service only for law firms wishing to communicate if they are on the Principality conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Shepshed.
A friend advised me that in purchasing a property in Shepshed there could be various restrictions as to what one can do in terms of external alterations to the property. Is this right?
We are aware of a number of properties in Shepshed which have some sort of restriction or requirement of consent to external changes. Part of the conveyancing in Shepshed should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
When it comes to mortgage companies such as Bank of Ireland, do Shepshed property lawyers have to pay a fee to be on the conveyancing panel?
We are not aware of any lender fees to be on their list of approved firms, although some do charge an administration fee to deal with the processing of the conveyancing panel application.
We previously instructed conveyancing lawyers located in Shepshed on the Coventry BS solicitor approved list. They have just billed me a supplemental amount for the legal aspects of the Coventry BS mortgage. Is this a supplemental conveyancing fee set by Coventry BS?
As unfair as it may appear, as long as it’s in their Terms of Engagement or estimate then yes your conveyancer can levy a fee for this. The charge is not dictated by Coventry BS but by your Shepshed solicitor. Some firms on the Coventry BS panel will quote ’dealing with mortgage’ fee but many practices include it on their overall fee.
I am buying a new build flat in Shepshed. 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 questions that you can expect your new-build leasehold conveyancing in Shepshed
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The Vendor must covenant to keep unoccupied units in good repair until long leases are granted therefore. Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. Forfeiture - bankruptcy or liquidation must not apply under this provision.
I have been recommended by three or four local property agents in Shepshed to find a solicitor using your seach tool. Is there a financial upside for Estate Agents to promote your site rather than alternative conveyancing organisations?
We don’t offer any financial incentive for directing people to this site. We thought it would be too underhand a fee because a client could think, ‘How come the agent getting a kickback? Why am I not getting any benefit too?’ We would prefer to grow our business on genuine recommendations.
I am looking at a couple of flats in Shepshed both have in the region of fifty years remaining on the lease term. Should I regard a short lease as a deal breaker?
There are no two ways about it. A leasehold flat in Shepshed is a deteriorating asset as a result of the shortening lease. The nearer the lease gets to its expiry date, the more it reduces the value of the property. For most purchasers and banks, leases with under 75 years become less and less attractive. 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 a property 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 Shepshed conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease. They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. 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 split level flat in Shepshed, conveyancing was carried out 6 years ago. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Corresponding properties in Shepshed with an extended lease are worth £265,000. The average or mid-range amount of ground rent is £50 yearly. The lease expires on 21st October 2099
You have 76 years remaining on your lease we estimate the price of your lease extension to span between £8,600 and £9,800 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 provide the actual costs in the absence of detailed investigations. Do not use this information 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. Neither should you move forward placing reliance on this information without first seeking the advice of a professional.
Is it true that a Shepshed conveyancing solicitor got sued by clients for failing to conduct the appropriate conveyancing investigations?
We are not aware of such a Shepshed conveyancing claim but it has been reported that, a couple acquiring a home in Cumbria successfully won a claim against their solicitor due to development permission to erect a wind farm failing to be picked up in conveyancing searches.
Where you are buying in Shepshed It is important that your lawyer conduct all Shepshed conveyancing searches needed making sure that you have relevant and current information before purchasing a property.