I have just been advised by my mortgage adviser that my Shotton the law firm I have appointed is not on the lender Conveyancing panel. What can I do to be certain if this is indeed the case?
Your first step should be to contact your Shotton lawyer directly. You lawyer should notify you what has happened. Where they are not on the panel they could put your in touch with solicitors on the approved list of lawyers for your mortgage company.
We are about to sign contracts for a garden flat in Shotton. We have hit a snag. The loan offer with Nottingham Building Society expires on 4/11/2024 but the owners are putting forward a completion date of 6/11/2024. Can one extend the loan expiry date?
The person best placed to address this issue is your lawyer who is in a position to determine if he or she is corresponding with the bank, owner’s representatives, selling agents or possibly all three given the circumstances your house move to date.
It is 10 years ago since I purchased my home in Shotton. Conveyancing lawyers have just been retained on the sale but I am unable to locate my title deeds. Is this a major issue?
Don’t worry too much. First there is a chance that the deeds will be with the lender or they may still be with the lawyers who handled the purchase. Secondly in all probability the land will be registered at the land registry and you will be able to prove you are the registered owner by your conveyancing lawyers procuring up to date copy of the land registers. Nearly all conveyancing in Shotton involves registered property but in the unlikely event that your home is unregistered it is more tricky but is resolvable.
Despite weeks of looking the Title Certificate and documents to our home are lost. The conveyancers who did the conveyancing in Shotton 5 years ago are no longer around. What are my options?
As long as you have a registered title the information relating to your ownership will be evidenced by the Land Registry under a Title Number. It is easy to carry out a search at the Land Registry, identify your property and order up to date copies of the Registered Entries for a small fee. If the title is Leasehold then the Land Registry will also normally hold a certified copy of the Registered Lease and again, a copy can be retrieved for twenty pounds.
About to purchase a new build flat in Shotton. Conveyancing is a frightening process 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 conveyancing.
Set out below is a sample of a selection of leasehold new build enquiries that you should expect your new-build leasehold conveyancing in Shotton
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Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? Please confirm the Lease plans are architect prepared. There must be mutual enforceability of lessee’s covenants. Forfeiture - bankruptcy or liquidation must not apply under this provision.
I am employed by a long established estate agent office in Shotton where we have witnessed a few flat sales derailed as a result of leases having less than 80 years remaining. I have received inconsistent advice from local Shotton conveyancing firms. Please can you confirm whether the vendor of a flat can initiate the lease extension formalities for the buyer?
Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser can avoid having to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or simultaneously with completion of the sale.
Alternatively, it may be possible to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.
I invested in buying a garden flat in Shotton, conveyancing was carried out half a dozen years ago. Can you work out an approximate cost of a lease extension? Comparable properties in Shotton with over 90 years remaining are worth £265,000. The ground rent is £50 invoiced annually. The lease terminates on 21st October 2099
With only 75 years unexpired we estimate the price of your lease extension to range between £8,600 and £9,800 plus legals.
The figure that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of detailed investigations. You should not use the figures in tribunal or court proceedings. There are no doubt other concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. Neither should you move forward based on this information without first seeking the advice of a professional.