My Solicitor in Audley is not listed on the Godiva Mortgages Ltd Conveyancing Panel. Can I still use my family solicitor notwithstanding that they are excluded from the Godiva Mortgages Ltd panel?
The limited options available to you here include:
- Complete the purchase with your preferred Audley solicitors but Godiva Mortgages Ltd will need to use a solicitor on their panel. This will result in additional total legal fees as well as cause frustration.
- Choose a new lawyer to to deal with the purchase, remembering to check they are Godiva Mortgages Ltd approved.
- Persuade your Godiva Mortgages Ltd solicitor to attempt to join the Godiva Mortgages Ltd panel
Do I select a Licenced Conveyancer or Solicitor for conveyancing in Audley?
There are many registered licenced Conveyancers in Audley and Solicitor firms in Audley who can assist with your conveyancing We would stress that both are supervised by regulatory bodies with both specialising in the legal work in the home buying process. They may both also handle other property legal work such as remortgage conveyancing, lease extensions and transfer of equity conveyancing.
Have just purchased a repossessed house at auction in Audley. Conveyancing is needed. What happens now?
Given that you are now legally bound yourself to purchase you will need to choose a conveyancing lawyer soon as you are faced with a tight deadline in which to complete the purchase. An auction property should have a bespoke auction set of papers. This should include the copy title deeds, local authority and drainage searches. Where you are dealing with leasehold property the legal papers should contain a copy of the lease, management information and a sellers leasehold information form and other conveyancing paperwork relating to a leasehold property. You need to pass this on to the conveyancer instructed by you ASAP. Do make sure that that you have the requisite funding in order to complete on the on the contractual date .
We previously appointed conveyancing lawyers locally in Audley on the Co-operative solicitor panel. They are now charging me an additional amount for dealing with the Co-operative mortgage. Is this a supplemental conveyancing fee set by Co-operative?
Provided it is contained in their Terms and Conditions or Quote then yes your conveyancing practitioner can levy a fee for this. This charge is not dictated by Co-operative but by your Audley solicitor. Plenty of firms on the Co-operative panel will charge an ‘acting for lender’ fee and others do not.
Should my solicitor be asking questions concerning flooding during the conveyancing in Audley.
The risk of flooding is if increasing concern for solicitors dealing with homes in Audley. There are those who buy a house in Audley, completely expectant that at some time, it may be flooded. However, leaving to one side the physical damage, where a house is at risk of flooding, it may be difficult to get a mortgage, adequate building insurance, or sell the premises. Steps can be carried out as part of the conveyancing process to forewarn the purchaser.
Lawyers are not qualified to impart advice on flood risk, however there are a number of checks that can be initiated by the buyer or by their conveyancers which can give them a better appreciation of the risks in Audley. The conventional set of property information forms sent to a purchaser’s conveyancer (where the Conveyancing Protocol is adopted) includes a usual inquiry of the vendor to discover whether the premises has suffered from flooding. In the event that the residence has been flooded in past and is not revealed by the seller, then a buyer may bring a claim for damages stemming from an incorrect answer. A buyer’s solicitors should also conduct an environmental search. This should indicate whether there is a recorded flood risk. If so, additional inquiries will need to be initiated.
I am looking for a flat up to £235,500 and identified one close by in Audley I like with open areas and railway links in the vicinity, the downside is that it's only got 61 remaining years left on the lease. There is not much else in Audley for this price, so just wondered if I would be making a grave error purchasing a lease with such few years left?
Should you need a home loan the remaining unexpired lease term may be an issue. Reduce the price by the expected lease extension will cost if it has not already been discounted. If the existing proprietor has owned the premises for at least 2 years you can ask them to start the process of the extension and then assign it to you. An additional ninety years can be extended on to the existing lease term and have £0 ground rent by law. You should speak to your conveyancing lawyer about this.
As co-executor for the will of my uncle I am disposing of a house in Swansea but live in Audley. My lawyer (approximately 200 miles awayrequires that I sign a stat dec ahead of completion. Could you suggest a conveyancing lawyer in Audley to witness and place their company stamp on the document?
strictly speaking you are not likely to need to have the documents witnessed by a conveyancing solicitor. Normally any notary public or solicitor will be fine regardless of whether they are based in Audley
I am employed by a long established estate agent office in Audley where we have witnessed a few leasehold sales jeopardised due to short leases. I have received conflicting advice from local Audley conveyancing firms. Could you clarify 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 owned the lease for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer can avoid having to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or simultaneously with 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.
Audley Leasehold Conveyancing - Sample of Queries Prior to buying
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How is the lease structured? You should want to discover as much as you can about the company managing the block as they will affect your use and enjoyment of the property. As the proprietor of a leasehold property you will be at the mercy of the managing agents from a financial perspective and when it comes to every day matters such as the upkeep of the common parts. Don't be shy to ask other tenants what they think of their management. Finally, be sure you discover the dates that you are obliged pay the service charge to the relevant party and specifically how they are spending the funds. On the whole the cost for major works tend not to be included within maintenance charges, although some managing agents in Audley obliged leasehold owners to pay into a sinking fund and this is used to offset against larger repairs or maintenance.