I bought my home on 4 May and my personal details is yet to be registered. Should I be concerned? My conveyancing solicitor in Shepton Mallet advises it should be concluded in a couple of weeks. Are properties in Shepton Mallet particularly slow to register?
As far as conveyancing in Shepton Mallet is concerned, registration is no quicker or slower than the rest of England and Wales. Rather than based on location, timescales can vary subject to who lodges the application, whether it is in order and whether the Land registry need to notify any other parties. Currently in the region of 80% of such applications are fully dealt with in less than three weeks but some can be subject to protracted hold-ups. Historically registration occurs after the purchaser is living at the property thus post completion formalities is not typically top priority but if there is a degree of urgency associated with the registration then you or your conveyancer must speak with the land registry and explain the circumstances.
I am purchasing my first flat in Shepton Mallet benefiting from help to buy. The builders refused to move on the amount so I negotiated £7000 of additionals instead. The estate agent advised me not disclose to my lawyer about the deal as it will adversely affect my loan with Halifax. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the developer 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 is different about your site and alternative online quote calculators when it comes to conveyancing in Shepton Mallet?
At this site obtain a fixed fee quote via a Solicitor or Licensed Conveyancer that appreciates the nuances of your conveyancing in Shepton Mallet. Unlike many estate agents and brokerage sites we do not have commission arrangements with solicitors. Some agents and online brokers 'recommend' solicitors who pay the most commission, not the best value conveyancing in Shepton Mallet
Am I best advised to instruct a Shepton Mallet conveyancing practitioner who is local to the property I am purchasing? An old friend can carry out the legal work but his firm is located a couple of hundredmiles away.
The primary upside of using a local Shepton Mallet conveyancing firm is that you can pop in to sign paperwork, present your identification documents and apply pressure on them where appropriate. Having local Shepton Mallet know how is a plus. However nothing is more important than finding someone that will do a good and efficient job. If you know people who instructed your friend and they were content that should outweigh using an unfamiliar Shepton Mallet conveyancing solicitor solely due to them being round the corner.
Do you have any top tips for leasehold conveyancing in Shepton Mallet from the perspective of speeding up the sale process?
- Much of the frustration in leasehold conveyancing in Shepton Mallet can be reduced if you get in touch lawyers as soon as you market your property and request that they start to collate the leasehold information needed by the buyers’ representatives. You may think that you are aware of the number of years left on your lease but it would be wise to verify this via your conveyancers. A buyer’s lawyer will not be happy to advise their client to where the remaining number of years is less than 80 years. It is therefore important at an early stage that you identify whether the lease term for your property needs extending. If it does, contact your solicitors before you put your premises on the market for sale. If you have had conflict with your freeholder or managing agents it is very important that these are resolved before the property is marketed. The buyers and their solicitors will be reluctant to purchase a flat where there is an ongoing dispute. You may have to bite the bullet and discharge any arrears of service charge or resolve the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You will still have to reveal particulars of the dispute to the purchasers, but it is clearly preferable to reveal the dispute as historic rather than unsettled. A minority of Shepton Mallet leases require Licence to Assign from the landlord. If this applies to your lease, you should notify your estate agents to make sure that the purchasers obtain bank and professional references. Any bank reference should make it clear that the buyer is able to meet the annual service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the actual amount of the service charge so that they can pass this information on to the purchasers or their lawyers.
I bought a studio flat in Shepton Mallet, conveyancing having been completed December 1995. Can you let me have an estimated range of the fair premium for a lease extension? Comparable properties in Shepton Mallet with over 90 years remaining are worth £191,000. The average or mid-range amount of ground rent is £55 yearly. The lease finishes on 21st October 2078
With 53 years remaining on your lease we estimate the price of your lease extension to range between £27,600 and £31,800 plus legals.
The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of detailed investigations. You should not use the figures in tribunal or court proceedings. There may be other concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. You should not move forward based on this information before getting professional advice.
My in 2006. He has got married, divorced and is now married again. He will be marketing the flat this June. I believe he will just be asked to supply copies of the marriage certificates to the solicitor but he is concerned it will frustrate the conveyancing. Should he instruct a conveyancer to update the Land Registry information for the house?
You are not required to update the register on the basis that you have the proof needed to show how the name change has come about.
The purchaser’s conveyancing practitioner should review the land registry details and require evidence to prove the name change for example marriage certificates.