It has come to my attention via my mortgage adviser that my Westgate on Sea the law firm I have appointed is not on the mortgage company Conveyancing panel. How can I be sure if this is correct?
You need to contact your Westgate on Sea conveyancer. You lawyer should advise you what has happened. If they are not on the panel they may recommend you to a Westgate on Sea conveyancing practice that is on the approved list of lawyers for your mortgage company.
In the event thatI was to acquire a freehold propertyin Westgate on Sea for cash and dispense with a survey and no conveyancing searches how much could I expect to to save on my conveyancing in Westgate on Sea?
Any savings you would achieve will be isolated to the Westgate on Sea conveyancing searches. Your conveyancing practitioner is obliged to do the vast majority of work - money laundering, liaising with your sellers conveyancing practitioner, SDLT return, register the ownership etc. You might save a bit for them not needing to register a mortgage however it will not be a lot.
I used Action Conveyancing a few years past for my conveyancing in Westgate on Sea. Now, I need the documents but the law firm is no longer operating. What do I do?
You should contact the Solicitors Regulatory Authority (SRA) to help locate your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Westgate on Sea of the conveyancing firm of solicitors you previously hired, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
I've recently found out that there is a flying freehold element on a house I have offered on a fortnight ago in what was supposed to be a quick, chain free conveyancing. Westgate on Sea is the location of the property. What do you suggest?
Flying freeholds in Westgate on Sea are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Westgate on Sea you must be sure that your lawyer goes 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 Westgate on Sea 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 father I am selling a property in Cardiff but live in Westgate on Sea. My conveyancer (approximately 250 kilometers from merequires that I execute a statutory declaration before completion. Could you suggest a conveyancing lawyer in Westgate on Sea who can attest this legal document for me?
strictly speaking you are not likely to need to have the documents attested by a conveyancing solicitor. Ordinarily or notary public or qualified solicitor will suffice regardless of whether they are Westgate on Sea based
I am tempted by the attractive purchase price for a two apartments in Westgate on Sea which have about forty five years remaining on the leases. Should I regard a short lease as a deal breaker?
There is no doubt about it. A leasehold flat in Westgate on Sea is a deteriorating asset as a result of the shortening lease. The nearer the lease gets to zero years unexpired, the more it reduces the marketability of the premises. The majority of buyers and banks, leases with under eighty years become less and less attractive. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of a property with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Westgate on Sea conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending the lease. You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that the agreed terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.
I am the registered owner of a 1 bedroom flat in Westgate on Sea, conveyancing formalities finalised October 2003. Can you please calculate a probable premium for a statutory lease extension? Comparable properties in Westgate on Sea with over 90 years remaining are worth £195,000. The average or mid-range amount of ground rent is £45 charged once a year. The lease expires on 21st October 2085
With just 62 years unexpired we estimate the premium for your lease extension to span between £17,100 and £19,800 plus costs.
The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you the actual costs without more comprehensive due diligence. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. Neither should you move forward based on this information without first getting professional advice.