We were just about to exchange contracts for a garden flat in Cimla. We encountered a stumbling block. Our loan offer with Clydesdale expires on 17/3/2025 but the owners are putting forward a completion date of 19/3/2025. Can one prolong the loan offer?
The best person to address this question is your conveyancer who should assess if he or she is corresponding with the lender, owner’s lawyers, selling agents or possibly all three given the history of your house move to date.
We see that you have a post code search directory identifying law firms on the Nottingham conveyancing panel. Do companies pay you a commission if I appoint them for our own conveyancing in Cimla?
We are a listing service only for law firms wishing to communicate if they are on the Nottingham conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Cimla.
I have been recommended a conveyancing solicitor in Cimla. I need to find out whether they are on the Britannia approved list of lawyers. Can you or the lender confirm if they are on the panel?
The first thing you should do is contact your conveyancer and enquire if they are on the lender panel. Otherwise you should get in touch with Britannia who may be able to help.
Should my solicitor be asking questions concerning flooding during the conveyancing in Cimla.
Flooding is a growing risk for conveyancers dealing with homes in Cimla. There are those who acquire a property in Cimla, completely expectant that at some time, it may suffer from flooding. However, leaving to one side the physical destruction, where a property is at risk of flooding, it may be difficult to get a mortgage, satisfactory insurance cover, or dispose of the premises. There are steps that can be taken during the course of a house purchase to forewarn the buyer.
Solicitors are not qualified to offer advice on flood risk, but there are a numerous searches that may be initiated by the purchaser or by their lawyers which will figure out the risks in Cimla. The conventional set of property information forms given to a purchaser’s conveyancer (where the Conveyancing Protocol is adopted) contains a standard inquiry of the seller to discover whether the premises has suffered from flooding. If the property has been flooded in past and is not notified by the vendor, then a purchaser may commence a legal claim for losses stemming from an inaccurate answer. A purchaser’s solicitors should also conduct an enviro search. This should indicate if there is any known flood risk. If so, additional investigations will need to be conducted.
What are your top tips when it comes to appointing a Cimla conveyancing practice to deal with our lease extension?
When appointing a solicitor for lease extension works (regardless if they are a Cimla conveyancing firm) it is most important that he or she should be familiar with the legislation and specialises in this area of work. We suggest that you speak with several firms including non Cimla conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. The following questions might be helpful:
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What volume of lease extensions have they completed in Cimla in the last 12 months? If they are not ALEP accredited then what is the reason?
I invested in buying a garden flat in Cimla, conveyancing formalities finalised half a dozen years ago. Can you please calculate a probable premium for a statutory lease extension? Corresponding properties in Cimla with over 90 years remaining are worth £227,000. The ground rent is £50 invoiced every year. The lease comes to an end on 21st October 2097
With only 72 years unexpired the likely cost is going to be between £9,500 and £11,000 as well as legals.
The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of detailed investigations. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. You should not move forward placing reliance on this information without first seeking the advice of a professional.
What could I expect to pay for conveyancing in Cimla?
Almost all Cimla conveyancing practices will charge a fixed fee. Where extra work becomes necessary during the transaction your conveyancer should disclose to you in writing of any supplemental charges for such work immediately it becomes obvious. Some firms will agree not to charge a fee if the deal aborts, others will charge a proportion of the agreed fee, according to the stage at which the matter aborts.
It is advisable to ask a few conveyancers to send you a quotation.