Just been in touch with my conveyancing lawyer in Birkenshaw who conducted the legals two years ago requesting a conveyancing quote based on the same type of house sale & purchase (a leasehold property and a freehold property) of almost identical values with a mortgage from Barclays Direct. I am now being charged double. Should I hunt for a cheaper internet conveyancer?
The estimate fees seem a little high. If you are prepared to spend time comparing prices you could get the conveyancing a bit cheaper by perhaps £100 plus VAT. That being said, assuming were satisfied with the legal work the firm provided you mightlive to regret opting for an an untested solicitor. Remember to check the conveyancer can represent Barclays Direct. Do make use of our search tool to select a Birkenshaw conveyancing firm on the Barclays Direct approved list of lawyers, which can often include conveyancing solicitors in Birkenshaw.
My son is purchasing a newly built flat in Birkenshaw with a home loan from Lloyds. His conveyancer has said that there is a delay in completing the ‘Disclosure of Incentive Form’. This document is news to me - what is it and who needs sight of it?
The document is intended to provide information to the main parties engaged in the transaction. Therefore, it will be provided to your son’s lawyer who should be on the Lloyds conveyancing panel as a standard part of the process, and to the surveyor when asked. The developer will be required to start the process by downloading the form and completing it. The form will therefore need to be available for the valuer at the time of his or her site visit. The form should be sent to the Lloyds conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
I moved into my apartment on 13 July and the transaction details is yet to be registered. Any reason for this? My conveyancing solicitor in Birkenshaw said it will be concluded in a couple of weeks. Are properties in Birkenshaw particularly slow to register?
There is nothing unique about conveyancing in Birkenshaw registration formalities. Rather than based on location, timescales can vary according to who lodges the application, whether it is in order and if the Land registry must send notices to any other parties. At present roughly three quarters of such applications are fully dealt with within 12 days but some can be subject to protracted hold-ups. Historically registration is effected after the purchaser is living at the property therefore 'speed' is not always an essential issue yet if it is urgent that the the registration takes place urgently then you or your lawyers should contact the land registry and explain the circumstances.
Due to the encouragement of my in-laws I had a survey completed on a house in Birkenshaw prior to retaining conveyancers. I have been advised that there is a flying freehold aspect to the house. The surveyor advised that some banks will refuse to grant a loan on a flying freehold property.
It depends who your proposed lender is. Bank of Scotland has different requirements for example to Birmingham Midshires. If you contact us we can investigate further via the relevant bank. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Birkenshaw. Conveyancing will be smoother if you use a solicitor in Birkenshaw especially if they are acquainted with such properties in Birkenshaw.
My husband and I are novice buyers - agreed a price, yet the selling agent informed us that the seller will only go ahead if we use their chosen solicitors as they want an ‘expedited deal’. We would rather use a local solicitor with experience of conveyancing in Birkenshaw
We suspect that the owner is unaware of this demand. Should the vendor require ‘a quick sale', alienating a serious buyer is counter productive. Speak to the owners direct and make the point that (a)you are keen to buy (b)you are ready to progress, with mortgage lined up © you are unencumbered (d) you wish to move quickly (e)however you will continue to appoint your preferred Birkenshaw conveyancing lawyers - as opposed tothose that will provide their negotiator at the agency a kickback or hit his conveyancing thresholds set by corporate headquarters.
I am tempted by the attractive purchase price for a two maisonettes in Birkenshaw which have in the region of forty five years unexpired on the leases. Do I need to be concerned?
There is no doubt about it. A leasehold flat in Birkenshaw is a wasting asset as a result of the reducing lease term. The closer the lease gets to its expiry date, the more it reduces the marketability of the property. For most purchasers and banks, leases with less than 75 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 a residence 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 Birkenshaw conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend 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.
Leasehold Conveyancing in Birkenshaw - A selection of Questions you should consider before buying
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For many Birkenshaw leaseholds the cost for major works are not included within service charges, although some managing agents in Birkenshaw obliged tenants to pay into a reserve fund created for the specific intention of establishing a fund for major repairs or maintenance. Plenty Birkenshaw leasehold apartments will be liable to pay a service charge for maintenance of the block invoiced on behalf of the management company. Where you purchase the flat you will have to pay this charge, usually quarterly during the year. This can differ from two or three hundred pounds to thousands of pounds for blocks with lifts and large common grounds. There will also be a ground rent for you to pay annual, normally this is not a large amount, say approximately £25-£75 but you need to enquire as on occasion it could be many hundreds of pounds. It is important to be aware whether changing the roof or some other significant cost is coming up to be shared amongst the tenants and may well materially impact the level of the maintenance charges or require a one off payment.