It may have been a long time coming a loan agreement from Santander for the refinancing of my 3 room maisonette is coming imminently. Are you able to recommend a low cost conveyancing lawyer in Aston on Trent?
This site is not designed to assist those in their quest for cut-price fees for conveyancing in Aston on Trent. Our aim is to provide affordable conveyancing but our intention is not to work with the cheapest lawyers. Do not be fooled by brokers seducing you with ninety nine pound conveyancing in Aston on Trent. At best, in choosing a lawyer for cheap conveyancing, you will earn what you pay for and at worst it will result in you being stung for extras and still not get the service expected.
My solicitor has identified a a problem with the lease for the property we are purchasing in Aston on Trent. The other side have put forward defective title insurance as a solution. We are content with insurance and will pay for it. Our solicitor says that he must be satisfied that the mortgage company is willing to move forward with this solution. Are we the client or is the mortgage company ?
The short answer to your last question is that, notwithstanding the risk of a conflict of interest, you and the mortgage company are the client. Your property lawyer must comply with the UK Finance Lenders’ Handbook specifications. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects with the lease so that the lender can be afforded the opportunity to check with their valuer as to the extent that the value of the property is affected. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.
My brother-in-law has suggested I instruct a conveyancing solicitor in Aston on Trent. I need to find out whether they are accepted on the Accord Mortgages Ltd approved list of lawyers. Can you advise?
You should phone your lawyer and enquire if they are on the lender panel. Alternatively you can call Accord Mortgages Ltd who may be able to assist.
How does conveyancing in Aston on Trent differ for new build properties?
Most buyers of new build property in Aston on Trent come to us having been asked by the seller to exchange contracts and commit to the purchase even before the property is ready to move into. This is because house builders in Aston on Trent usually acquire 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 property lawyers 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 used to new build conveyancing in Aston on Trent or who has acted in the same development.
Yesterday I discovered that there is a flying freehold issue on a house I have offered on two weeks back in what was supposed to be a quick, no chain conveyancing. Aston on Trent is the location of the property. What do you suggest?
Flying freeholds in Aston on Trent are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Aston on Trent you must be sure that your lawyer goes through the deeds very carefully. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Aston on Trent may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
I am employed by a busy estate agent office in Aston on Trent where we have witnessed a few flat sales put at risk as a result of short leases. I have received inconsistent advice from local Aston on Trent conveyancing firms. Please can you shed some light as to whether the owner of a flat can commence the lease extension formalities for the purchaser on completion of the sale?
As long as the seller has been the owner 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 proposed purchaser can avoid having to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or at the same time as completion of the sale.
Alternatively, it may be possible to extend the lease informally by agreement with the landlord 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 purchaser.
I purchased a 2 bed flat in Aston on Trent, conveyancing having been completed August 2001. Can you let me have an estimated range of the fair premium for a lease extension? Equivalent flats in Aston on Trent with an extended lease are worth £191,000. The average or mid-range amount of ground rent is £55 levied per year. The lease runs out on 21st October 2079
With just 54 years remaining on your lease we estimate the premium for your lease extension to span between £32,300 and £37,400 as well as legals.
The figure above a general guide to costs for renewing a lease, but we are not able to advice on a more accurate figure 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 considered and you obviously want to be as accurate as possible in your negotiations. Please do not move forward based on this information without first seeking the advice of a professional.