My IFA says he needs my Astley law firm’s panel reference for the Santander conveyancing panel. What is the best way to obtain this. I have contacted my local Astley office but they cant find it on their system.
Have you tried speaking to your Astley conveyancing practitioner about this?. They maintain a central record lender panel numbers.
I used Stirling Law a few years past for my conveyancing in Astley. I now require my file but cannot find the solicitor. What do I do?
You should contact the Solicitors Regulatory Authority (SRA) to help locate your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Astley of the conveyancing firm of solicitors you previously used, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
How does conveyancing in Astley differ for new build properties?
Most buyers of new build premises in Astley approach us having been asked by the seller to exchange contracts and commit to the purchase even before the premises is finished. This is because new home sellers in Astley typically purchase the site, 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 conveyancers 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 Astley or who has acted in the same development.
I have been on the look out for a ground for flat up to £245,000 and found one close by in Astley I like with amenity areas and railway links nearby, however it only has 49 remaining years left on the lease. I can't really find anything else in Astley in this price bracket, so just wondered if I would be making a grave error buying a short lease?
If you need a mortgage the shortness of the lease will be a potential deal breaker. Reduce the offer by the amount the lease extension will cost if it has not already been discounted. If the existing owner has owned the premises for at least twenty four months you can request that they start the process of the extension and pass it to you. You can add 90 years to the existing lease and have £0 ground rent by law. You should speak to your conveyancing lawyer about this.
I am attracted to a two apartments in Astley which have approximately 50 years remaining on the leases. Will this present a problem?
There is no doubt about it. A leasehold apartment in Astley is a wasting asset as a result of the shortening lease. The closer the lease gets to zero years unexpired, the more it reduces the salability of the property. For most buyers and mortgage companies, leases with less than eighty years become less and less attractive. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of premises with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Astley conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending the lease. You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that any new terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.
Astley Leasehold Conveyancing - A selection of Questions you should consider Prior to Purchasing
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The best form of lease structure is where the freehold title is owned by the leaseholders. In this scenario the tenants have control and although a managing agent is usually employed where the building is bigger than a house conversion, the managing agent employed by the leaseholders. It would be sensible to enquire if there are any onerous restrictions in the lease. For example some leases prohibit pets being permitted in in a block in Astley. If you like the apartmentin Astley but your dog can’t live with you then you will be presented with a difficult compromise.
I today plan to offer on a house that seems to meet my requirements, at a great price which is making it all the more appealing. I have just discovered that it's a leasehold rather than freehold. I would have thought that there are particular concerns buying a leasehold house in Astley. Conveyancing lawyers have not yet been instructed. Will my lawyers set out the risks of buying a leasehold house in Astley ?
Most houses in Astley are freehold rather than leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area can assist with the conveyancing process. We note that you are purchasing in Astley in which case you should be looking for a Astley conveyancing solicitor and check that they are used to dealing with leasehold houses. First you will need to check the number of years remaining. As a leaseholder you will not be entirely free to do whatever you want to the property. The lease comes with conditions such as requiring the landlord’sconsent to conduct alterations. It may be necessary to pay a maintenance charge towards the upkeep of the estate where the property is part of an estate. Your solicitor will advise you fully on all the issues.