I instructed a local solicitor for our conveyancing in Alvaston recently. Looking through the terms of engagement it is apparent thatI am on the hook for fees even if the dealfalls through. Should I go with them or choose an on-line firm advertising no move no charge conveyancing in Alvaston?
Generally there is a concession along the lines that if "No Sale No Fee" is available then the fee levels will tend to be be more expensive to counteract those cases that do not proceed. Please beware that these promotions tend not to cover expenses by way of example Alvaston conveyancing search expenses.
Please explain the implications if my solicitor is expelled from the Skipton Conveyancing panel ahead of completing my conveyancing in Alvaston?
The first thing to point out is that, this is very unlikely to happen. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit at a cost.
I have today made my last payment due on my mortgage with Lloyds. I assume I don't need a Alvaston conveyancing practitioner on the Lloyds panel to remove the mortgage at the Land Registry. Please confirm.
If you have finished paying off your Lloyds mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Lloyds mortgage from the register. Lloyds, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Lloyds has sent the Land Registry the discharge electronically, and
- Lloyds has instructed the Land Registry to do so
The mortgage over my property is with TSB for my property in Alvaston. Conveyancing was finalised months ago. If I am intending to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform TSB?
Your original mortgage agreement with TSB will provide that you need their approval in advance of renting your property as this is likely to be a breach of TSB’s mortgage conditions. It may be that TSB will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact TSB directly. You need not do this via a TSB conveyancing panel solicitor.
I am due to exchange contracts on my apartment. I had a double glazing fitted in May 2008, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s lender, Bank of Ireland are being pedantic. The Alvaston solicitor who is on the Bank of Ireland conveyancing panel is saying indemnity insurance will be fine but Bank of Ireland are requiring a building regulation certificate. Why do Bank of Ireland have a conveyancing panel if they don't accept advice from them?
It is probably the case that Bank of Ireland have referred the matter to their valuer. The reason why Bank of Ireland may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
Due to the advice of my in-laws I had a survey completed on a house in Alvaston ahead of retaining lawyers. I have been told that there is a flying freehold element to the property. The surveyor advised that some banks will refuse to give a mortgage on a flying freehold property.
It varies from the lender to lender. Santander has different requirements from Birmingham Midshires. Should you wish to call us we can check with the appropriate bank. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Alvaston. Conveyancing will be smoother if you use a solicitor in Alvaston especially if they regularly deal with such properties in Alvaston.
How does the Landlord & Tenant Act 1954 affect my commercial offices in Alvaston and how can you help?
The 1954 Act gives security of tenure to business lessees, granting the legal entitlement to make a request to court for a continuation of occupancy when the lease reaches an end. There are limited grounds where a landlord can refrain from granting a lease renewal and the rules are involved. Fees are different for commercial conveyancing. Alvaston is one of our numerous areas of the UK in which our lawyers have offices
Having checked my lease I have discovered that there are only Seventy years remaining on my lease in Alvaston. I now wish to get lease extension but my freeholder is absent. What are my options?
If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will mean that your lease can be extended by the Court. However, you will be required to prove that you have made all reasonable attempts to track down the freeholder. In some cases an enquiry agent would be useful to conduct investigations and to produce a report to be used as proof that the landlord is indeed missing. It is wise to seek advice from a property lawyer in relation to devolving into the landlord’s disappearance and the vesting order request to the County Court covering Alvaston.
I inherited a studio flat in Alvaston, 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 properties in Alvaston with an extended lease are worth £192,000. The ground rent is £55 invoiced annually. The lease terminates on 21st October 2079
You have 54 years remaining on your lease the likely cost is going to range between £32,300 and £37,400 as well as costs.
The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you the actual costs in the absence of detailed investigations. Do not use the figures in tribunal or court proceedings. There are no doubt other issues 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 without first seeking the advice of a professional.