At what point will exchange of contracts happen for sale conveyancing in Clun and do I need to be at the solicitors office?
Where you are near to our conveyancing solicitors in Clun you are invited in to sign documents. However, the law practices we recommend provide a national conveyancing service and give as equally detailed and professional a job for you when dealing with you digitally. The signing of the contract is not the point of no return. A signed contract is just a prerequisite for the firm to officially exchange when the time is right, which is ordinarily shortly after signing. The exchange process is is usually a five minute process, although where a lengthy "chain" is in play, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Clun)to be in the office available at the end of the phone to exchange contracts.
three months have elapsed since my purchase conveyancing in Clun concluded. I have checked the Land Registry site which shows that I paid £200,000 when infact I paid £160,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the premises from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I decided to have a survey done on a property in Clun prior to instructing conveyancers. I have been advised that there is a flying freehold overhang to the house. Our surveyor has said that some mortgage companies may refuse to issue a loan on this type of property.
It varies from the lender to lender. Bank of Scotland has different instructions from Nationwide. If you contact us we can check via the relevant lender. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Clun. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Clun to see if the conveyancing costs will increase in light of this.
My husband and I are FTB’s - had an offer accepted, but the agent has warned us that the owners will only proceed if we instruct their preferred lawyers as they need an ‘expedited deal’. My instinct tells me that we should use a family conveyancer who is accustomed to conveyancing in Clun
It is unlikely the owners are driving this. Should the vendor want ‘a quick sale', taking such a hostile approach to a serious purchaser is is going to put the whole deal at risk. Speak to the vendors direct and explain that (a)you are keen to buy (b)you are ready to progress, with mortgage lined up © you do not need to sell (d) you wish to move quickly (e)however you are going to use your own,trusted Clun conveyancing lawyers - not the ones that will provide their negotiator at the agency a introducer fee or hit his conveyancing targets demanded by HQ.
Back In 2005, I bought a leasehold flat in Clun. Conveyancing and Santander mortgage are in place. I have received a letter from someone saying they have taken over the freehold. It included a ground rent demand for rent dating back to 1994. The conveyancing solicitor in Clun who acted for me is not around. Any advice?
The first thing you should do is make enquiries of HMLR to make sure that the individual claiming to own the freehold is indeed the new freeholder. It is not necessary to instruct a Clun conveyancing firm to do this as you can do this on the Land Registry website for a few pound. You should note that regardless, even if this is the rightful landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I inherited a ground floor flat in Clun, conveyancing having been completed in 1997. Can you give me give me an indication of the likely cost of a lease extension? Comparable properties in Clun with a long lease are worth £180,000. The average or mid-range amount of ground rent is £65 charged once a year. The lease runs out on 21st October 2082
With just 58 years unexpired we estimate the price of your lease extension to span between £22,800 and £26,400 plus professional fees.
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. Do not use this information in tribunal or court proceedings. There are no doubt other concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information without first seeking the advice of a professional.
I have noted on a number of consumer advice websites that before selecting a conveyancing lawyer they must be approved by your mortgage company. I am novice purchaser but I have an offer in principle with HSBC and I already have a high street conveyancing lawyer in Clun at the ready. Does Virgin Money need an approved solicitor to be selected? Does a list of approved solicitors even exist so I can appoint a conveyancing solicitor in Clun?
You need to instruct a solicitor that is on the Virgin Money panel. The simplest thing to do is telephone your chosen Clun conveyancing lawyer to check if they are on the Virgin Money panel. If they are not on the panel you have a number of choices available to you here:
- Carry on with your existing Clun lawyer but Virgin Money will need to use a conveyancer from their conveyancing panel. This will result in additional charges together with potential frustration.
- Choose a fresh property lawyer to conduct the conveyancing, ensuring that they are on the Virgin Money conveyancing panel.
- Convince your conveyancer to seek to join the lender panel.