I am soon to exchange buying a house in Upton but as a result of wreckage from the recent storms I have managed to agree recompense from the vendor in the sum of £3k by way of a reduction in the price. I had intended this to be addressed as part of a side agreement yet TSB are not allowing this. Why were they notified?
Your conveyancing practitioner being on the TSB approved list is required to disclose to TSB of any changes to the sale price. If you prohibit your conveyancer to disclose the price change to TSB then they would have to discontinue acting for you. In addition, TSB and you would have to appoint a new conveyancing practitioner for your conveyancing in Upton.
I am considering remortgaging my property in Upton, does my lawyer need to be on the Clydesdale Conveyancing panel?
In theory, you could use a solicitor that is not on the Clydesdale conveyancing panel, but Clydesdale would require one of their panel solicitors to be instructed to act in their interests, and you'd have to pay for this - so most people instruct a panel solicitor. It's also easier, as otherwise you'd have to deal with two solicitors for the same conveyancing matter.
I got the keys to my apartment on 12 May and the transaction details is not yet registered. Need I be worried? My conveyancing solicitor in Upton advises it would be formalised inside ten days. Are transfers in Upton particularly slow to register?
As far as conveyancing in Upton registration is no quicker or slower than the rest of England and Wales. Rather than based on location, timescales can differ subject to the party submitting the application, whether it is in order and whether the Land registry communicate with any interested persons or bodies. Currently in the region of 80% of submission are fully addressed in less than three weeks but occasionally there can be protracted delays. Registration takes place once the buyer is living at the property thus 'speed' is not typically an essential issue but where it is urgent that the the registration takes place urgently then you or your conveyancer must speak with the land registry and explain the circumstances.
Given that I will soon part with hundreds of thousands of pounds on a two bedroom apartment in Upton I wish to have a conversation with the lawyer about mytransaction in advance of giving the go ahead to the firm. Is this something that you can arrange?
Absolutely - we would be happy to talk to you we do not take any clients on without you speaking to the solicitor who will be conducting your property ownership legalities in Upton.There is no ‘factory style conveyancing’ - each client is unique person, not a matter number. The law firms that we put you in touch with believe that the figure you are calculated and presented to you for residential conveyancing in Upton should be the figure that you end up paying.
What advice can you give us when it comes to choosing a Upton conveyancing practice to deal with our lease extension?
When appointing a property lawyer for your lease extension (regardless if they are a Upton conveyancing practice) it is most important that he or she should be familiar with the legislation and specialises in this area of work. We advise that you talk with two or three firms including non Upton conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. The following questions could be useful:
If the firm is not ALEP accredited then what is the reason? Can they put you in touch with clients in Upton who can give a testimonial?
I am the leaseholder of a basement flat in Upton. Given that I can not reach agreement with the freeholder, can the Leasehold valuation Tribunal determine the premium payable for the purchase of the freehold?
if there is a missing landlord or if there is disagreement about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the LVT to arrive at the price payable.
An example of a Lease Extension decision for a Upton flat is Various @ Colombus Square in January 2012. the Tribunal calculated the premiums to be paid for new leases for each of the flats in Mariners Walk to be £3822 and the premium to be paid for the new lease of 2 Knights Court to be £4439. This case was in relation to 13 flats. The unexpired lease term was 76 years.
We are midway through purchasing a house in Upton. Conveyancing solicitor has told us the title is "Leasehold". Will this likely impact our home loan valuation?
Upton conveyancing does not usually involve leasehold houses. The crucial factor here is the remaining lease term and the ground rent. If there are over a hundred years remaining with a nominal rent, it's almost the same as freehold, so it’s unlikely to affect the marketability significantly.
On the flip side, if it's, say, 50 years it is bound to have a significant impact on the saleability, and most likely wouldn't be mortgageable. The remaining lease term and ground rent will be specified in the lease provided to your lawyer.