Me and my fiance are buying a 2 bedroom flat in Swavesey with a mortgage. We have a Swavesey solicitor, but the mortgage company says she’s not on their "panel". It appears that we have little choice but to instruct one of the lender panel conveyancing practices or retain our Swavesey conveyancer and pay for one of their panel ones to act for them. We regard this is inequitable; is there anything we can do?
Unfortunately,no. Your mortgage offer is subject to its terms and conditions, one of which will be that lawyers will on the bank’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your Swavesey conveyancing lawyer to apply to be on the conveyancing panel.
Finally the sale completed on my house in Swavesey last November yet the purchaser is SMS messaging daily to moan that their conveyancer is waiting to hear from mylawyer. What should have happened following completion?
Post completion of your disposal your lawyer should send the transfer deeds and all supplemental paperwork to the purchaser's conveyancer. If applicable, your lawyer should also send confirmation that the mortgage has been redeemed to the buyers conveyancers. There is unlikely to be post completion tasks peculiar conveyancing in Swavesey.
I am looking for a flat up to £305k and found one round the corner in Swavesey I like with a park and transport links nearby, the downside is that it only has 61 remaining years left on the lease. I can't really find anything else in Swavesey suitable, so just wondered if I would be making a grave error acquiring a short lease?
If you require a home loan the shortness of the lease may be a potential deal breaker. Discount the price by the anticipated lease extension will cost if it has not already been discounted. If the existing owner has owned the premises for a minimum of 2 years you may request that they start the process of the extension and then assign it to you. An additional ninety years can be extended on to the current lease term with a zero ground rent applied. You should speak to your conveyancing lawyer concerning this.
Are there any apps to help locate a Swavesey law firm on the Yorkshire Building Society conveyancing panel? I have a car and am willing to travel upto 25miles to meet the solicitor.
Feel free to make use of the tool on this website. Please select a bank and your location and you will see a number of Swavesey conveyancing lawyers located nearest you. We have detailed some Swavesey conveyancing firms towards the end of this page and you can ring them to check if they are on the Yorkshire Building Society panel
I need to instruct a conveyancing solicitor for leasehold conveyancing in Swavesey. I have stumble across a site which seems to have the ideal offering If it is possible to get all the legals completed via phone that would be ideal. Should I be wary? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
Can you provide any top tips for leasehold conveyancing in Swavesey from the point of view of saving time on the sale process?
- A significant proportion of the delay in leasehold conveyancing in Swavesey can be bypassed where you get in touch lawyers the minute you market your property and ask them to collate the leasehold information needed by the buyers’ conveyancers. The majority of freeholders or managing agents in Swavesey charge for providing management packs for a leasehold property. You or your lawyers should find out the fee that they propose to charge. The management pack can be applied for as soon as you have a buyer, thus reducing delays. The average time it takes to obtain the necessary information is three weeks. It is the most frequent reason for frustration in leasehold conveyancing in Swavesey. If you have carried out any alterations to the property would they have required Landlord’s consent? Have you, for example installed wooden flooring? Swavesey leases often stipulate that internal structural alterations or laying down wooden flooring necessitate a licence from the Landlord acquiescing to such works. Should you dont have the paperwork to hand do not communicate with the landlord without contacting your solicitor in advance. You believe that you know the number of years remaining on your lease but you should double-check via your lawyers. A purchaser's lawyer will be unlikely to recommend their client to proceed with the purchase of a leasehold property the remaining number of years is below 75 years. It is therefore essential at an as soon as possible that you consider whether the lease term requires a lease extension. If it does, contact your solicitors before you put your premises on the market for sale.
I inherited a garden flat in Swavesey, conveyancing formalities finalised in 2001. 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? Equivalent flats in Swavesey with an extended lease are worth £255,000. The ground rent is £45 per annum. The lease terminates on 21st October 2095
With 73 years unexpired we estimate the price of your lease extension to range 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 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 clearly you want to be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information without first getting professional advice.