We are purchasing a 1 bedroom flat in Tewkesbury with a mortgage. We wish to retain our Tewkesbury conveyancer, but the lender says he's not on their "panel". It seems we have little choice but to use one of the mortgage company panel conveyancing practices or retain our Tewkesbury conveyancing practitioner and pay for one of their panel ones to act for them. We feel that this is unjust; are we not able to demand that the lender use our Tewkesbury conveyancer ?
No, not really. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the lender’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. A further alternative is for your Tewkesbury conveyancing solicitor to apply to be on the conveyancing panel.
The owners have rather assertive sellers who has recommended a preliminary agreement with a deposit 6,000. Are such contracts promoted for Tewkesbury conveyancing transactions?
There are two main concerns with signing a lock out contract (occasionally referred to as a no-shop agreement) is that it can distract from making progress with the conveyancing process, so in the absence of it needing little or no negotiation then it could turn out to be a cause of frustration and delay. It is not promoted by Tewkesbury conveyancing solicitors as a result. A supplemental negative is the extent of the remedies available - a jilted buyer should not expect to be issued with an injunctive ruling by a court to bar the seller selling to an alternative purchaser, so the only remedy available under the contract will be the recovery of abortive costs and, in rare circumstances, the extra payment of damages.
Various internet forums that I have visited warn that are the main cause of obstruction in Tewkesbury house deals. Is this right?
The Council of Property Search Organisations (CoPSO) has noted the determinations of a review by MoveWithUs that conveyancing searches do not figure within the top 10 causes of delays in the conveyancing process. Local searches are not likely to feature in any slowing down conveyancing in Tewkesbury.
I have todaybeen informed that Wolstenholmes have closed. They carried out my conveyancing in Tewkesbury for a purchase of a freehold house 18 months ago. How can I check that my home is registered correctly in the name of the former proprietor?
The easiest method to check if the property is registered to you, you can carry out a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Tewkesbury conveyancing specialists.
In what way can the Landlord & Tenant Act 1954 impact my business offices in Tewkesbury and how can you help?
The particular law that you refer to provides security of tenure to commercial leaseholders, granting the legal entitlement to apply to court for a renewal lease and remain in occupation at the end of an expired lease. There are limited grounds that a landlord can refrain from granting a lease renewal and the rules are complex. Fees are different for commercial conveyancing. Tewkesbury is one of the numerous locations in which our lawyers have offices
Do you have any top tips for leasehold conveyancing in Tewkesbury with the intention of speeding up the sale process?
- A significant proportion of the delay in leasehold conveyancing in Tewkesbury can be avoided where you instruct lawyers the minute your agents start marketing the property and request that they start to collate the leasehold information which will be required by the buyers’ representatives. In the event that you altered the property did you need the Landlord’s approval? In particular have you installed wooden flooring? Tewkesbury leases often stipulate that internal structural alterations or laying down wooden flooring calls for a licence from the Landlord consenting to such changes. Where you fail to have the paperwork to hand do not contact the landlord without contacting your conveyancer first. If you hold a share in a the freehold, you should make sure that you are holding the original share certificate. Obtaining a re-issued share certificate can be a lengthy formality and delays many a Tewkesbury home move. If a reissued share certificate is needed, you should approach the company director and secretary or managing agents (where applicable) for this at the earliest opportunity. If there is a history of any disputes with your landlord or managing agents it is essential that these are resolved before the property is put on the market. The purchasers and their solicitors will be reluctant to purchase a flat where there is a current dispute. You may have to bite the bullet and discharge any arrears of service charge or resolve the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose particulars of the dispute to the buyers, but it is better to reveal the dispute as historic rather than unresolved.
I inherited a garden flat in Tewkesbury, conveyancing formalities finalised in 1996. Can you please calculate a probable premium for a statutory lease extension? Comparable properties in Tewkesbury with over 90 years remaining are worth £260,000. The average or mid-range amount of ground rent is £45 invoiced every year. The lease ends on 21st October 2095
With only 74 years remaining on your lease we estimate the price of your lease extension to be between £8,600 and £9,800 plus costs.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of comprehensive due diligence. Do not use this information in a Notice of Claim or as an informal offer. There may be additional concerns that need to be taken into account and you obviously want to 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.