Do banks and building societies provide you with an approved list of Albrighton conveyancing solicitors? How do you know who is on the Leeds Building Society conveyancing panel?
Albrighton conveyancing firms themselves provide us confirmation that they are on the Leeds Building Society conveyancing panel as opposed to being supplied with a list from Leeds Building Society directly.
I am planning to acquire a property and require a conveyancing solicitor in Albrighton who is on the Bank of Scotland conveyancing. Can you recommend a local firm?
Our service is limited to being a directory service for firms who wish to listed as being on the approved conveyancing panel for Bank of Scotland in certain locations such as Albrighton. We dont recommend any particular firm.
I have decided to exercise my right to buy my property in Albrighton off the council. I have a mortgage offer with Yorkshire BS. Conveyancing is not something I have any knowledge of. Can I proceed without a solicitor easily? I think we can but we keep being told I should have one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Yorkshire BS, you will need to appoint a solicitor on the Yorkshire BS conveyancing panel.
After months of negotiation I have agreed a price on a house in Albrighton. My financial adviser suggested a solicitor. I paid an on account payment of £175. Not long after, the conveyancing practitioner called me to say that they were not on the RBS conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the RBS panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
I have finally had an offer on a maisonette in Albrighton accepted, but there is a chain. The owners have offered on a property, however it’s not been accepted yet, and have viewings of other flats in the pipeline. I have selected a local conveyancing solicitor in Albrighton. What do I do now? When should I get the mortgage application with Aldermore going?
It is usual to have anxieties where there is a chain as you are unlikely to want to be too out of pocket prematurely (mortgage application is approx one thousand pounds, then valuation, Albrighton conveyancing search costs, etc). First, you must ensure that your property lawyer is on the Aldermore approved list. Concerning the next stages this very much dictated by the circumstances of your transaction, motivation for this property and on the state of the market. During a buoyant market the majority of purchasers will apply for the mortgage with Aldermore and pay for the valuation and only if it comes back ok would they pay their conveyancer to proceed with the conveyancing in Albrighton.
three months have gone by since my purchase conveyancing in Albrighton completed. I have checked the Land Registry site which shows that I paid £200,000 when infact I paid £170,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the premises from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I am buying a new build flat in Albrighton. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.
Set out below are examples of a selection of leasehold new build questions that you can expect your new-build leasehold conveyancing in Albrighton
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Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified. The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore.
I am employed by a reputable estate agency in Albrighton where we have witnessed a number of flat sales jeopardised due to short leases. I have received inconsistent advice from local Albrighton conveyancing solicitors. Could you clarify whether the owner of a flat can initiate the lease extension process for the purchaser on completion of the sale?
As long as the seller has owned the lease 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 to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or at the same time as completion of the disposal of the property.
An alternative approach is 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 buyer.
I own a 1 bedroom flat in Albrighton, conveyancing was carried out half a dozen years ago. How much will my lease extension cost? Comparable flats in Albrighton with a long lease are worth £202,000. The average or mid-range amount of ground rent is £60 charged once a year. The lease finishes on 21st October 2083
With 57 years left to run we estimate the premium for your lease extension to span between £28,500 and £33,000 as well as costs.
The suggested premium range that we have given is 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 other issues that need to be considered and you obviously should be as accurate as possible in your negotiations. Please do not move forward based on this information without first getting professional advice.