I am one month into the sale of my apartment in Anstey and the EA has just e-mailed to say that the purchasers are appointing a new conveyancer. The excuse is that the mortgage company will only engage with property lawyers on their approved list. On what basis would a leading lender only engage with specific solicitors rather the firm that they want to appoint to handle their conveyancing in Anstey ?
Banks have always had panels of law firms that can act for them, but in the last few years big names such as Yorkshire Building Society, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for decades.
Lending institutions blame a rise in fraud as the reason for the cull – criteria have been narrowed as a smaller panel is easier to keep an eye on. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society claims that it is hearing daily from firms that have been removed from panels. Some are unaware that they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. Your purchasers are not going to have any sway in the decision.
I need some fast conveyancing in Anstey as I am faced with an ultimatum to complete in less than 2 weeks. Luckily I do not require a mortgage. Can I decline from having conveyancing searches to save fees and time?
As you are are a cash purchaser you have the choice not to do searches although no lawyer would advise that you don't. With lots of history conveyancing in Anstey the following are examples of issues that can appear and therefore impact future saleability: Enforcement Notices, Outstanding Charges, Outstanding Grants, Road Schemes,...
My wife and I own a terraced Georgian house in Anstey. Conveyancing solicitor acted for me and Nottingham Building Society. I did a free Land Registry search last week and I saw a couple of entries: one for freehold, another for leasehold with the matching address. I thought I was buying a freehold how can I check?
You should review the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Anstey and other areas of the country and poses no real issues for owners other than when they mortgage they have to account for both freehold and leasehold interests when dealing with buyers. You can also question the situation with the conveyancing lawyer who conducted the purchase.
Due to the advice of my in-laws I had a survey completed on a property in Anstey prior to retaining solicitors. I have been informed that there is a flying freehold aspect to the property. Our surveyor has said that some mortgage companies will refuse to grant a mortgage on such a property.
It depends who your proposed lender is. Santander has different requirements from Halifax. If you e-mail us we can check with the relevant mortgage company. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Anstey. Conveyancing will be smoother if you use a solicitor in Anstey especially if they are familiar with such properties in Anstey.
What does commercial conveyancing in Anstey cover?
Anstey conveyancing for business premises covers a wide array of advice, offered by regulated solicitors, relating to business property. By way of example, this area of conveyancing can cover the sale or purchase of freehold business premises or, more commonly, the transfer of existing leases or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial loans and the termination of leases.
I own a leasehold house in Anstey. Conveyancing and HSBC Bank mortgage are in place. I have received a letter from someone saying they have taken over the freehold. Attached was a demand for arrears of ground rent dating back to 1992. The conveyancing solicitor in Anstey who acted for me is not around. What should I do?
The first thing you should do is contact the Land Registry to make sure that this person is in fact the registered owner of the freehold reversion. It is not necessary to incur the fees of a Anstey conveyancing firm to do this as you can do this on the Land Registry website for £3. Rest assured that in any event, even if this is the rightful freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I am the registered owner of a leasehold flat in Anstey, conveyancing formalities finalised half a dozen years ago. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Equivalent properties in Anstey with a long lease are worth £192,000. The average or mid-range amount of ground rent is £55 yearly. The lease ends on 21st October 2080
With 54 years left to run we estimate the premium for your lease extension to range between £32,300 and £37,400 plus costs.
The figure that we have given is a general guide to costs for extending a lease, but we are not able to advice on the actual costs in the absence of detailed due diligence. Do not use this information in a Notice of Claim or as an informal offer. There may be additional concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. You should not take any other action based on this information before seeking the advice of a professional.