Much to our surprise we have been notified by our mortgage adviser that my Astley the law firm I have appointed is not on the mortgage company Solicitor panel. What can I do to be certain whether this is indeed the case?
The first thing you need to do is to contact your Astley lawyer directly. It is reasonable to expect your lawyer to advise you what has happened. Where they are not on the panel they could put your in touch with solicitors on the conveyancing panel for your lender.
We have very pushy sellers who has suggested a lock out contract with a deposit 10k. Are such arrangements promoted for Astley conveyancing transactions?
There are two primary drawbacks with signing a lock out agreement (also termed a no-shop agreement) is that it takes away the focus from moving forward with the conveyancing transaction itself, so in the absence of it needing limited or no negotiation then it may transpire to be a hindrance. It is not promoted amongst Astley conveyancing practitioners for this reason. A further negative is the extent of the remedies available - an aggrieved purchaser should not expect to be granted an injunctive ruling by a court to prohibit the owner completing the sale to an alternative purchaser, so the only remedy open via the agreement will be the recovery of wasted charges and, in limited circumstances, the extra payment of penalties.
I had intended to instruct a property lawyer in Astley for our house move. Our financial adviser informed us that our mortgage lenders National Westminster Bank won't deal with them. Surely this is unduly restrictive?
Lenders in the main imposes restrictions either the type or the amount of conveyancing practices on their panel. A common example of such criteria being that a law practice must not be a sole practitioner. In addition to restricting the type of firm, some have decided to limit the amount of solicitor practices they allow to act for them. Be aware that National Westminster Bank have no responsibility for the quality of advice provided by any member of National Westminster Bank Conveyancer Panel. Mortgage fraud was a primary driver in the rationalisation of solicitor panels a few years ago even though there are mixed opinions concerning the level of solicitor engagement in some of that fraud. Data from the Land Registry reveal that plenty of law firms, including some in or near Astley only perform one or two conveyances a year.
I require quick conveyancing in Astley as I am under a deadline to complete within one month. Thankfully I do not require a mortgage. Is it possible to avoid the conveyancing searches to save fees and time?
As you are not taking a mortgage you are at liberty not to have searches carried out although no law firm would suggest that you don't. Drawing on years of experience of conveyancing in Astley the following are instances of what can crop up and therefore affect future mortgageability: Enforcement Notices, Outstanding Fees, Outstanding Grants, Road Schemes,...
I need to find a conveyancing solicitor for freehold conveyancing in Astley. I have discover a web site which looks to be the ideal solution If there is a chance to get all this stuff done via web that would be ideal. Do I need to be concerned? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
There are only 72 years left on my flat in Astley. I now wish to get lease extension but my freeholder is absent. What are my options?
On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be granted an extra 90 years by the magistrate. You will be obliged to demonstrate that you have done all that could be expected to locate the freeholder. For most situations a specialist would be helpful to conduct investigations and prepare an expert document which can be accepted by the court as proof that the landlord is indeed missing. It is advisable to get professional help from a conveyancer both on investigating the landlord’s absence and the application to the County Court overseeing Astley.
I invested in buying a garden flat in Astley, conveyancing having been completed April 2010. Can you give me give me an indication of the likely cost of a lease extension? Equivalent properties in Astley with over 90 years remaining are worth £195,000. The average or mid-range amount of ground rent is £45 invoiced every year. The lease expires on 21st October 2087
With 63 years remaining on your lease we estimate the premium for your lease extension to be between £16,200 and £18,600 as well as plus your own and the landlord's "reasonable" professional fees.
The suggested premium range above a general guide to costs for extending a lease, but we are not able to supply the actual costs in the absence of detailed investigations. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information without first getting professional advice.