Me and my partner are purchasing a flat in Workington. It might be a silly question but how we can trust a lawyer? On the day of competition we have to deposit money into their account. What is the protection we have from them run away with our money?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
I am assisting my aunt sell her property in Workington. Does the solicitor commission an energy assessment or it is for me to see to?
After the abolition of HIPs, energy assessments was left as a mandatory part of moving property. An EPC should be to hand in advance of the property being placed on the market. It is not something that solicitors normally organise. If you are using a Workington conveyancing practitioner they might be able to arrange energy assessments due to their contacts with reputable local assessors
Is it the case that all Workington solicitor firms on the Santander conveyancing panel are overseen by the SRA?
As solicitors, in order to be on the Santander conveyancing panel they would need to be regulated by the SRA. Many banks do list licenced conveyancers on their panel and in that case the organisation would be overseen by the CLC.
We are buying a house and the lawyer has raised the issue of Chancel Repair to which the house could be liable given it’s proximity to the area of such a church. She has mentioned insurance. Is this strictly required for conveyancing in Workington
Unless a previous purchase of the premises took place after 12 October 2013 you may expect solicitors carrying out conveyancing in Workington to continue to advocate a chancel search and or chancel repair liability policy.
Over the last few months I have been searching for a leasehold apartment up to £245,000 and found one round the corner in Workington I like with open areas and railway links nearby, the downside is that it only has 51 years on the lease. There is not much else in Workington suitable, so just wondered if I would be making a mistake buying a lease with such few years left?
If you require a mortgage the shortness of the lease may be a potential deal breaker. Reduce the offer by the anticipated lease extension will cost if it has not already been discounted. If the existing owner has owned the premises for at least 2 years you may ask them to commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the current lease and have £0 ground rent by law. You should consult your conveyancing lawyer regarding this matter.
Am I better off to go with a Workington conveyancing lawyer based in the location that I am purchasing? We have a good friend who can deal with the conveyancing but her office is 200kilometers drive away.
The benefit of a local Workington conveyancing practice is that you can attend the office to sign documents, deliver your ID and pester them where appropriate. They will also have local intelligence which is a plus. However nothing is more important than finding someone that will do a good and efficient job. If other friends have instructed your friend and in the main were impressed that should surpass using an unknown Workington conveyancing lawyer just because they are based in the area.
When it comes to leasehold conveyancing in Workington what are the most common lease problems?
There is nothing unique about leasehold conveyancing in Workington. All leases are drafted differently and drafting errors can result in certain clauses are erroneous. For example, if your lease is missing any of the following, it could be defective:
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Insurance obligations
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. HSBC Bank, Bank of Scotland, and Platform Home Loans Ltd all have express requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease does not cover certain provisions they may refuse to grant the mortgage, obliging the buyer to pull out.
I own a studio flat in Workington, conveyancing formalities finalised January 2004. Can you give me give me an indication of the likely cost of a lease extension? Similar flats in Workington with a long lease are worth £222,000. The average or mid-range amount of ground rent is £50 per annum. The lease finishes on 21st October 2096
With 71 years unexpired we estimate the price of your lease extension to be between £9,500 and £11,000 plus plus your own and the landlord's "reasonable" professional fees.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of detailed investigations. Do not use this information in tribunal or court proceedings. There are no doubt additional concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information without first seeking the advice of a professional.
Our mortgage broker has suggested using their property lawyer for my conveyancing in Workington - Is it not simpler advisable to just instruct them?
You need to establish if the estate agent is recommending a property lawyer or introducing to a solicitor. There are plenty of Workington selling agents who recommend two or three Workington conveyancing firms purely based on those lawyers offering a great service.