The vendors of the property we are looking to purchase have appointed a conveyancing firm in Brundall who has insisted on a lock out agreement with a down payment two thousand pounds. Are such agreements recommended for Brundall conveyancing transactions?
There are a couple of main downsides with entering into any lock out contract (also referred to as a no-shop agreement) is that it can distract from moving forward with the conveyancing process, so in the absence of it needing limited or no negotiation then it could transpire to be a cause of frustration and delay. It is not particularly popular by Brundall conveyancing lawyers for this reason. A further issue is the extent of the remedies available - an aggrieved purchaser should not expect to be granted injunctive relief to stop the vendor disposing of the property to an alternative purchaser, so the only remedy open via the agreement will be the recovery of wasted charges and, in rare circumstances, the extra payment of damages.
We just had an offer accepted to buy with Earl Shilton BS. We have called around locally yet am unable to find a Brundall conveyancing firm on the Earl Shilton BS approved list. Please you assist?
Feel free to take advantage of the find a lender approved solicitor tool on this page. Pick the building society and type Brundall or your location and you will see a number of lawyer based in Brundall or nearest you.
We have agreed to purchase a house in Brundall. One unusual aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender Kent Reliance be concerned?
As your lender is Kent Reliance your lawyer must check the conveyancing instructions set out in Part 2 of UK Finance Lenders’ Handbook for Kent Reliance. The Council of Mortgage Lenders’ Handbook contains minimum requirements for solar panel roof-space leases, and conveyancing practitioners are required to report to Kent Reliance where a lease fails to meet these specifications. The provisions relate to the installation of panels on properties countrywide and is not limited to Brundall.
The mortgage over my property is with Yorkshire BS for my property in Brundall. Conveyancing was finalised a year ago. In the event that I decide to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Yorkshire BS?
Yorkshire BS must be informed of your intention in advance of letting out your property as this is likely to be a breach of Yorkshire BS’s mortgage conditions. In many cases banks or building societies will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Yorkshire BS directly. It should not be necessary to do this via a Yorkshire BS conveyancing panel lawyer.
After much negotiation I have agreed a price on an apartment in Brundall. My mortgage broker recommended their conveyancers. I paid an on account payment of £200. A couple of days later, the lawyer contacted me sheepishly admitting that they were not on the TSB conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the TSB panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
Yesterday I discovered that there is a flying freehold issue on a property I have offered on a fortnight ago in what should have been a quick, no chain conveyancing. Brundall is where the house is located. What do you suggest?
Flying freeholds in Brundall are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Brundall you must be sure that your lawyer goes through the deeds very carefully. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Brundall 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.
How can the Landlord & Tenant Act 1954 affect my business offices in Brundall and how can your lawyers assist?
The particular law that you refer to affords security of tenure to business leaseholders, giving them the dueness to make a request to court for a renewal lease and continue in occupation when the lease comes to an end. There are limited grounds that a landlord can refrain from granting a lease renewal and the rules are complex. We are happy to direct you to commercial conveyancing firms who use the act to your advantage and handle your commercial conveyancing in Brundall
We expect to complete the disposal of our £175,000 flat in Brundall on Friday in a week. The managing agents has quoted £348 for Certificate of Compliance, insurance certificate and 3 years statements of service charge. Is it legal for a freeholder to charge an administration fee for a flat conveyance in Brundall?
Brundall conveyancing on leasehold maisonettes usually involves the buyer’s solicitor sending enquiries for the landlord to address. Although the landlord is not legally bound to respond to these enquiries the majority will be willing to assist. They are at liberty to charge a reasonable charge for answering enquiries or supplying documentation. There is no upper cap for such fees. The average fee for the information that you are referring to is over three hundred pounds, in some cases it exceeds £800. The administration charge demanded by the landlord must be sent together with a summary of rights and obligations in relation to administration fees, without which the invoice is not strictly payable. In reality one has no choice but to pay whatever is requested of you if you want to exchange contracts with the buyer.
I purchased a basement flat in Brundall, conveyancing having been completed in 2008. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Similar properties in Brundall with a long lease are worth £202,000. The average or mid-range amount of ground rent is £60 levied per year. The lease terminates on 21st October 2081
With only 56 years remaining on your lease we estimate the premium for your lease extension to be between £29,500 and £34,000 as well as costs.
The figure that we have given is a general guide to costs for extending a lease, but we are not able to supply the actual costs in the absence of comprehensive due diligence. Do not use the figures in tribunal or court proceedings. There may be other issues that need to be taken into account and you obviously should 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.