Finally the sale completed on my house in Broughton Astley last February yet the purchaser is whats apping me to moan that his conveyancer needs to hear from mine. What should my lawyer have done now that I have sold?
After completion of your disposal your conveyancer should deliver the transfer documentation and all additional paperwork to the purchaser's lawyers. Depending on the transaction, your solicitor must also confirm that the home loan has been paid off to the buyers lawyers. There are no post completion formalities just for conveyancing in Broughton Astley.
Two weeks ago we had a mortgage agreed in principle with UBS. Broughton Astley conveyancing solicitors are instructed. What is the average time that one could expect to receive a mortgage offer from UBS?
There is no definitive answer here. Have UBS done the valuation? Have you informed UBS as to your lawyers' details and checked that your lawyers are on the UBS conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
I have paid off my mortgage with Yorkshire BS. I assume I don't need a Broughton Astley conveyancer on the Yorkshire BS panel to remove the mortgage at the Land Registry. Am I right?
If you have finished paying off your Yorkshire BS mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Yorkshire BS mortgage from the register. Yorkshire BS, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Yorkshire BS has sent the Land Registry the discharge electronically, and
- Yorkshire BS has instructed the Land Registry to do so
I was told four weeks ago that my mortgage has been agreed to by Nationwide. Is it usual for Nationwide to only issue the offer once my solicitor in Broughton Astley is approved on their conveyancing panel? Nationwide have asked my solicitor to see a copy of their Professional Indemnity Insurance Schedule.
Mortgage companies tend not to not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for Nationwide to deal with your lawyer's application to be on the Nationwide conveyancing panel. There's no guarantee that your solicitor will be accepted.
Yesterday I discovered that there is a flying freehold issue on a property I have offered on last month in what was supposed to be a simple, no chain conveyancing. Broughton Astley is the location of the property. Is there any guidance you can give?
Flying freeholds in Broughton Astley are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Broughton Astley you would need to get your solicitor to go through the deeds diligently. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Broughton Astley may decide 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 premises.
Do I need to be concerned that estate agents that I am dealing with are encouraging me to use a factory type conveyancing firm rather than a High Street Broughton Astley conveyancing company?
As is the case with many professional services, often referrals from family and friends can be most helpful. Nevertheless there are numerous players in a conveyancing matter; estate agents, mortgage brokers and lenders might all suggest conveyancers to select. On occasion the solicitors might be known to one of the organisations as one of the best in their field, but occasionally there may be a financial incentive behind the endorsement. You have the discretion to select your own conveyancer. You need to be aware that most mortgage providers specify a panel list of solicitors you have to use for the mortgage related work in your house move.
I am looking for a conveyancing solicitor in Broughton Astley for my house move. Can I see a solicitor's complaints history with the profession’s regulator?
One may see presented Solicitor Regulator Association (SRA) decisions arising from investigations started on or after Jan 2008. Visit Check a solicitor's record. For information about the period before 1 January 2008, or to check a solicitors history, phone 0870 606 2555, 08.00 - 18.00 Monday, Wednesday, Thursday, Friday and 09.30 - 18.00 Tuesday. International callers, call +44 (0)121 329 6800. The regulator could recorded call for training purposes.
I am a negotiator for a reputable estate agent office in Broughton Astley where we have experienced a few leasehold sales derailed as a result of short leases. I have received conflicting advice from local Broughton Astley conveyancing firms. Can you confirm whether the vendor of a flat can instigate the lease extension process for the purchaser on completion of the sale?
Provided that 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. The benefit of this is that the proposed purchaser can avoid having to wait 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 simultaneously with completion of the sale.
Alternatively, it may be possible to agree the lease extension with the freeholder 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 acquired a 1st floor flat in Broughton Astley, conveyancing having been completed in 2002. Can you let me have an estimated range of the fair premium for a lease extension? Corresponding properties in Broughton Astley with an extended lease are worth £197,000. The ground rent is £55 invoiced every year. The lease expires on 21st October 2080
You have 55 years unexpired we estimate the price of your lease extension to span between £31,400 and £36,200 plus legals.
The figure above a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more detailed investigations. You should not use this information 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. Neither should you take any other action placing reliance on this information without first getting professional advice.