The Coleford conveyancing firm handling our Coleford conveyancing has spotted an inconsistency when comparing the surveyor’s assumptions in the home valuation report and what is in the title deeds. My solicitor says that he needs to check that the bank is OK with this discrepancy and is content to go ahead. Is my conveyancer’s approach appropriate?
Your lawyer must comply with the UK Finance Lenders’ Handbook conditions which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for both parties.
How up to date is your database of Coleford solicitors on the Kent Reliance conveyancing panel? Do Kent Reliance send you an updated list?
Coleford conveyancing firms themselves provide us confirmation that they are on the Kent Reliance conveyancing panel as opposed to being supplied with a list from Kent Reliance directly.
A relative pointed out to me me that in purchasing a property in Coleford there may be various restrictions as to what one can do in terms of external alterations to a property. Is this right?
There are a number of properties in Coleford which have some sort of restriction or requirement of consent to external variations. Part of the conveyancing in Coleford should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
I have paid off my mortgage with Aldermore. I assume I don't need a Coleford solicitor on the Aldermore panel to discharge the mortgage at the Land Registry. Please confirm.
If you have finished paying off your Aldermore 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 Aldermore mortgage from the register. Aldermore, 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 Aldermore has sent the Land Registry the discharge electronically, and
- Aldermore has instructed the Land Registry to do so
Virgin Money have agreed my home loan in principle, my offer on a flat in Coleford has been accepted, what are the next steps?
Your estate agent will wish to know who your solicitors are (be sure the property lawyers are on the bank’s approved list). Telephone Virgin Money or your financial adviser and finish off any relevant paperwork. Virgin Money will appoint a valuer who will get in contact with the selling agent or vendor to book an appointment. Once carried out (assuming no problems) it takes about a fortnight for the mortgage offer to be issued. Virgin Money will issue the offer to you and your solicitors. The legal work will then take it’s course according the nature and complexity of the conveyancing in Coleford.
I have todaydiscovered that Wolstenholmes have been shut down. They carried out my conveyancing in Coleford for a purchase of a freehold house 18 months ago. How can I establish that the property is not still registered in the name of the previous owner?
The quickest way to see if the premises is registered to you, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Coleford conveyancing specialists.
I need to find a conveyancing solicitor for leasehold conveyancing in Coleford. I happened to land on a site which seems to have the perfect offering If there is a chance to get all formalities done via web that would be preferable. Do I need to be concerned? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
Do you have any advice for leasehold conveyancing in Coleford with the purpose of speeding up the sale process?
- A significant proportion of the frustration in leasehold conveyancing in Coleford can be avoided where you get in touch lawyers as soon as your agents start marketing the property and request that they start to collate the leasehold documentation which will be required by the buyers’ representatives. Many landlords or managing agents in Coleford charge for providing management packs for a leasehold property. You or your lawyers should find out the fee that they propose to charge. The management pack sought on or before finding a buyer, thus accelerating the process. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most common cause of frustration in leasehold conveyancing in Coleford. If you have had any disputes with your landlord or managing agents it is essential that these are resolved before the property is marketed. The buyers and their solicitors will be warry about purchasing a flat where there is a current dispute. You may have to bite the bullet and pay any arrears of service charge or resolve the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose particulars of the dispute to the buyers, but it is better to present the dispute as historic rather than ongoing. You may think that you are aware of the number of years left on your lease but you should double-check via your solicitors. A purchaser's conveyancer will be unlikely to recommend their client to to exchange contracts if the lease term is less than 75 years. In the circumstances it is essential at an as soon as possible that you consider whether the lease for your property needs extending. If it does, contact your solicitors before you put your property on the market for sale.
I purchased a basement flat in Coleford, conveyancing formalities finalised in 2001. Can you shed any light on how much the price could be for a 90 year extension to my lease? Corresponding flats in Coleford with a long lease are worth £191,000. The average or mid-range amount of ground rent is £55 invoiced every year. The lease ends on 21st October 2078
You have 54 years unexpired the likely cost is going to range between £31,400 and £36,200 plus costs.
The suggested premium range above a general guide to costs for renewing a lease, but we are not able to advice on a more accurate figure in the absence of comprehensive investigations. You should not use this information in tribunal or court proceedings. There are no doubt other issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Please do not take any other action based on this information without first seeking the advice of a professional.