We're in Trentham, FTBs buying with a mortgage (lender is Leeds Building Society , and our lawyer is on the Leeds Building Society conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Leeds Building Society conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no conveyancer should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
Forgive me if this question is silly but I am wet behind the ears as FTB of a ground floor flat in Trentham. Do I pick up the keys to the property on the completion date from my solicitor? If so, I will appoint a local conveyancing solicitor in Trentham?
There is no need to visit the lawyers office on the day of completion. Your solicitors will transfer the completion advance to the seller's lawyers, and shortly after the monies have arrived, you should be able to collect the keys from the Estate Agents and move into your new home. Usually this happens between 1 and 3pm.
A relative informed me that in buying a property in Trentham there may be a number of restrictions prohibiting external changes to the property. Is this right?
There are anumerous of properties in Trentham which have some sort of restriction or requirement of consent to external alterations. Part of the conveyancing in Trentham should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
Two weeks ago we had a mortgage agreed in principle with RBS. Trentham conveyancing solicitors have been instructed. How long does it take for RBS to forward the offer to the conveyancing practitioner?
Some lenders take longer than others. Have RBS completed the survey? Have you advised RBS as to your lawyers' details and checked that your lawyers are on the RBS conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
I've recently found out that there is a flying freehold element on a property I have offered on two weeks back in what should have been a quick, no chain conveyancing. Trentham is where the house is located. Can you offer any advice?
Flying freeholds in Trentham are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Trentham you would need to get your solicitor to go through the deeds thoroughly. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Trentham may decide 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.
My company is planning to take an assignment of a lease of an office on a shopping parade. Can you recommend solicitors offering competitive costs for commercial conveyancing in Trentham for under £2000?
We are happy to recommend firms who have an in-depth of experience of commercial conveyancing in Trentham, including the disposal and acquisition of businesses as well as simply property. If you are looking to purchase or sell a shop, pub, restaurant, office, retail unit or a whole business we will put you in touch with the right solicitor. Regarding the charges these will vary based on the structure and terms of the deal. Please provide us with your contact information or call us so that we can supply you with comprehensive commercial conveyancing quote.
Are there common problems that you witness in leases for Trentham properties?
Leasehold conveyancing in Trentham is not unique. All leases are drafted differently and legal mistakes in the legal wording can sometimes mean that certain sections are erroneous. For example, if your lease is missing any of the following, it could be defective:
-
A provision to repair to or maintain elements of the building
A defective lease can cause issues when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. National Westminster Bank, Bank of Scotland, and Nottingham Building Society all have very detailed conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is defective they may refuse to grant the mortgage, forcing the purchaser to pull out.
I purchased a 1 bedroom flat in Trentham, conveyancing formalities finalised half a dozen years ago. Can you please calculate a probable premium for a statutory lease extension? Equivalent flats in Trentham with an extended lease are worth £186,000. The ground rent is £55 per annum. The lease ceases on 21st October 2077
With just 52 years left to run we estimate the price of your lease extension to be between £29,500 and £34,000 plus plus your own and the landlord's "reasonable" professional fees.
The figure that we have given is a general guide to costs for extending a lease, but we are not able to supply the actual costs without more detailed due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There may be additional concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. You should not move forward based on this information before getting professional advice.
Been looking for a conveyancer for leasehold sale conveyancing in Trentham. We are selling, simple no mortgage to redeem, no rush, currently empty. Got a quote from a lawyer for nine hundred pounds including VAT which is a little expensive considering its so straightforward. Can I pay less for conveyancing in Trentham?
As it’s a sale only, £450 + VAT would be about the lowest for sale conveyancing in Trentham.