As a first time buyer what is the most important advice you can give me about purchase conveyancing in Yardley?
You may not hear this from too many lawyers but conveyancing in Yardley or throughout Birmingham is an adversarial process. In other words, when it comes to conveyancing there exists an abundance of opportunity for conflict between you and others involved in the ownership transfer. For example, the seller, estate agent and even potentially your lender. Selecting a lawyer for your conveyancing in Yardley is a critical decision as your conveyancer is your adviser, and is the ONE person in the process whose responsibility is to protect your legal interests and to keep you safe.
On occasion a third party with a vested interest may try and convince you that you should follow their advice. For instance, the property agent may claim to be helping by suggesting your conveyancer is wrong. Or your mortgage broker may try to convince you to do take action that is contrary to your lawyers recommendation. You should always trust your lawyer above all other parties when it comes to the legal transfer of property.
Are the BSA intent on creating a searchable register to to identify practices on the Earl Shilton BS conveyancing panel for example in Yardley?
Lexsure has not been advised of any intention on the part of the BSA to promote such a register.
What is the difference between a licensed conveyancer and conveyancing solicitor in Yardley
There are many recorded licenced Conveyancers in Yardley and Solicitor partnerships in Yardley who provide Conveyancing services We would stress that the two are supervised by regulatory bodies with both specialising in the legal work in transferring property. They may both also conduct other property legal work such as remortgage conveyancing, enfranchisement and transfer of equity conveyancing.
We were going to get a AIP from Coventry BS this week so we know how much we could potentially offer as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc). Do Coventry BS recommend any Yardley solicitors on the Coventry BS conveyancing panel, or is it better to find our own lawyer?
You will need to appoint Yardley solicitors independently although you'll need to choose one on the Coventry BS conveyancing panel. The solicitor represents both you and Coventry BS through the process.
Intending to buy a apartment in Yardley. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Bank of Ireland conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Yardley property lawyer is on the Bank of Ireland conveyancing panel.
How does conveyancing in Yardley differ for newly converted properties?
Most buyers of new build residence in Yardley approach us having been asked by the seller to exchange contracts and commit to the purchase even before the residence is built. This is because builders in Yardley typically acquire the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Yardley or who has acted in the same development.
We are a couple of weeks into a residential purchase having been referred to conveyancers by the high street agent to handle our conveyancing in Yardley. I am am very disappointed with the quality of service. Can you you assist me in finding new conveyancers?
They would have to be really poor in order to consider changing them. Has the loan offer been sent? In the event that it has you need to advise them of the new contact details and have the offer are issued to the new lawyers. Your new conveyancer should be on the lenders panel to avoid supplemental fees and frustration. That should be your starting point. Our find a solicitor tool will assist you in finding a lender approved conveyancer for your conveyancing in Yardley
I am a negotiator for a busy estate agent office in Yardley where we have experienced a few flat sales jeopardised due to leases having less than 80 years remaining. I have received inconsistent advice from local Yardley conveyancing solicitors. Could you shed some light as to whether the owner of a flat can initiate the lease extension formalities for the purchaser on completion of the sale?
As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer can avoid having to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or at the same time as completion of the disposal of the property.
Alternatively, it may be possible to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.
I bought a garden flat in Yardley, conveyancing was carried out 3 years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Comparable flats in Yardley with a long lease are worth £202,000. The average or mid-range amount of ground rent is £60 per annum. The lease terminates on 21st October 2081
You have 56 years remaining on your lease the likely cost is going to span between £29,500 and £34,000 as well as legals.
The figure above a general guide to costs for renewing a lease, but we cannot give you the actual costs in the absence of detailed investigations. You should not use this information in tribunal or court proceedings. There are no doubt additional issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. Neither should you take any other action based on this information without first seeking the advice of a professional.