We are about to sign contracts for a ground floor flat in Worcestershire. We have hit a problem. The loan offer with Aldermore runs out on 31/12/2025 but the vendors are suggesting a completion date of 5/1/2026. Can one extend the loan expiry date?
The best person to deal with your concern is your conveyancer who will assess whether he or she is should be discussing with the lender, seller’s conveyancers, selling agents or possibly all parties based on what has gone on in your transaction to date.
What does my ID and proof of funds have anything to do with my conveyancing in Worcestershire? Is this really warranted?
Anti-terror and anti-money-laundering laws require solicitors and licensed conveyancers to verify the ID of the potential client they are dealing with before they can accept their conveyancing retainer. The Terms and Conditions that you are required to sign should confirm this. Your lender will also require certain documents to be viewed. Should you refuse to hand over ID verification documents, your lawyer would not be able to accept instructions from you.
I am selling my home in Worcestershire. Will my conveyancing practitioner have to be on the Principality conveyancing panel in order to deal with paying off my mortgage?
Ordinarily, even if your lawyer is not on the Principality conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their conditions fairly frequently in recent years.
I note that there are debates on Chancel Insurance on online forums. Do I need this when acquiring a residence in Worcestershire? or Apparently there is an ancient law that means some house owners living in a parish church boundary will be compelled to pay for repairs towards the chancel within the church. Is this appropriate for conveyancing in Worcestershire?
Unless a prior acquisition of the house completed after 12 October 2013 you could expect lawyers carrying out conveyancing in Worcestershire to continue to advocate a chancel search and or chancel repair liability policy.
As co-executor for the will of my grandfather I am disposing of a residence in Newport but I am based in Worcestershire. My solicitor (who is 235 miles awayrequires that I execute a stat dec ahead of the transaction finalising. Could you suggest a conveyancing solicitor in Worcestershire to witness and place their company stamp on the document?
strictly speaking you should not be required to have the documents attested by a conveyancing solicitor. Ordinarily any notary public or qualified solicitor will do regardless of whether they are based in Worcestershire
I've recently bought a leasehold property in Worcestershire. Do I have any liability for service charges for periods before completion of my purchase?
Where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I invested in buying a leasehold flat in Worcestershire, conveyancing having been completed 4 years ago. Can you please calculate a probable premium for a statutory lease extension? Similar flats in Worcestershire with over 90 years remaining are worth £197,000. The ground rent is £55 yearly. The lease runs out on 21st October 2080
You have 55 years remaining on your lease we estimate the price of your lease extension to range between £31,400 and £36,200 plus legals.
The suggested premium range above a general guide to costs for extending a lease, but we cannot give you the actual costs without more detailed investigations. Do 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 you obviously should be as accurate as possible in your negotiations. Neither should you move forward based on this information before seeking the advice of a professional.