When does exchange of contracts occur in residential conveyancing in Thurmaston and do I need to be at the conveyancers office?
If you are in close proximity to one of the conveyancing solicitors in Thurmaston you are welcome to come in to sign contracts. However, the lender approved solicitors we recommend supply countrywide coverage for conveyancing and provide as equally diligent and professional a job for you when dealing with you digitally. The signing of the sale agreement is not the point of no return. Signing on the dotted line is just a prerequisite for the solicitor to address the formalities when the time is right, which is ordinarily shortly after signing. The exchange process is nowadays normally dealt with by telephone and can be very rapid, although where an extended "chain" is in the mix, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Thurmaston)to be in the office at the appropriate time.
Will my conveyancing lawyers need to check that the building insurance for my purchase of a house in Thurmaston. My lender is Accord Mortgages
Accord Mortgages have specific requirements as set out in the UK Finance Lenders’ Handbook. As of 28/9/2020, the requirements read as follows :
Are there restrictive covenants that are commonly picked up during conveyancing in Thurmaston?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the process of conveyancing in Thurmaston. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
I've recently found out that there is a flying freehold issue on a property I have offered on last month in what should have been a quick, no chain conveyancing. Thurmaston is where the house is located. Can you offer any assistance?
Flying freeholds in Thurmaston are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Thurmaston you would need to get your solicitor to go through the deeds very carefully. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Thurmaston may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
As co-executor for the estate of my uncle I am disposing of a property in Cardiff but live in Thurmaston. My conveyancer (based 260 kilometers from meneeds me to execute a statutory declaration prior to completion. Can you recommend a conveyancing solicitor in Thurmaston to witness and place their company stamp on the document?
strictly speaking you are not likely to be required to have the documents attested by a conveyancing solicitor. Normally or notary public or qualified solicitor will be fine regardless of whether they are located in Thurmaston
I am a negotiator for a reputable estate agency in Thurmaston where we have witnessed a number of leasehold sales put at risk due to leases having less than 80 years remaining. I have been given inconsistent advice from local Thurmaston conveyancing firms. Could you confirm whether the owner of a flat can commence the lease extension formalities for the buyer?
As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser need not have to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or at the same time as completion of the sale.
An alternative approach is to agree the lease extension with the freeholder 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 purchaser.
I invested in buying a leasehold flat in Thurmaston, conveyancing having been completed half a dozen years ago. How much will my lease extension cost? Comparable properties in Thurmaston with over 90 years remaining are worth £265,000. The ground rent is £50 yearly. The lease runs out on 21st October 2096
You have 76 years remaining on your lease the likely cost is going to range between £8,600 and £9,800 plus plus your own and the landlord's "reasonable" professional fees.
The suggested premium range above a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of comprehensive investigations. Do not use the figures in a Notice of Claim or as an informal offer. There may be additional issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information without first getting professional advice.