Am I correct in assuming that the fact that my conveyancer in Corston is not listed on my lender's solicitor panel that there is a problem with the standard of the firm’s work?
That is more than likely an incorrect assumption to make. There are plenty of plausible explanations. Just recently a report by the solicitors regulator revealed that over three quarters of law firms surveyed had been removed from at least one lender panel. The top 5 reasons are as follows: (1) low volume of transactions (2) the solicitor is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. Should you be concerned you should simply call the Corston conveyancing practice and ask them why they are no longer on the approved list for your mortgage company.
Despite weeks of looking the Title Certificate and documents to our home are lost. The solicitors who did the conveyancing in Corston 5 years ago have long since closed. Will I be able to sell the house?
As long as the title is registered the details of your proprietorship will be held by HMLR under a Title Number. It is easy to execute a search at the Land Registry, identify your property and order up to date copies of the property title for a small fee. Where the property is Leasehold then the Land Registry will in most cases hold a certified duplicate of the Registered Lease and again, a copy can be obtained for twenty pounds.
How does conveyancing in Corston differ for newly converted properties?
Most buyers of new build residence in Corston contact us having been asked by the seller to sign contracts and commit to the purchase even before the premises is built. This is because builders in Corston usually acquire the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Corston or who has acted in the same development.
I decided to have a survey done on a property in Corston in advance of instructing solicitors. I have been advised that there is a flying freehold aspect to the property. Our surveyor has said that some banks may not issue a mortgage on this type of premises.
It depends who your proposed lender is. Santander has different instructions from Birmingham Midshires. Should you wish to call us we can check via the relevant lender. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Corston. Conveyancing may be slightly more expensive based on your lender's requirements.
My husband and I may need to sub-let our Corston ground floor flat for a while due to a new job. We instructed a Corston conveyancing practice in 2002 but they have since shut and we did not think at the time get any guidance as to whether the lease allows us to sublet. How do we find out?
A lease dictates the relationship between the landlord and you the leaseholder; in particular, it will set out if subletting is prohibited, or permitted but only subject to certain caveats. The accepted inference is that if the lease contains no specific ban or restriction, subletting is permitted. The majority of leases in Corston do not contain strict prohibition on subletting – such a provision would undoubtedly devalue the flat. In most cases there is a basic requirement that the owner notifies the freeholder, possibly supplying a copy of the tenancy agreement.
I own a split level flat in Corston, conveyancing was carried out in 2012. How much will my lease extension cost? Similar flats in Corston with over 90 years remaining are worth £202,000. The average or mid-range amount of ground rent is £60 invoiced annually. The lease terminates on 21st October 2082
With only 57 years remaining on your lease we estimate the price of your lease extension to span between £28,500 and £33,000 plus costs.
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 comprehensive due diligence. You should 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. Neither should you move forward placing reliance on this information before getting professional advice.
18 days into a sale of a flat in Corston. Conveyancing solicitors are doing their job but we have been asked to pay an extortionate amount by the freeholder. To date we have issued a cheque for £250 for a leasehold management pack and then a further £118 for answers to questions supplied by the purchaser's lawyer.
You will not have any say over the extent of the fee for this information but the typical costs for the information for Corston leasehold property is £380. For Corston conveyancing deals it is conventional for the seller to cover the charges. The landlord or their agents are not duty bound to address such questions although many will agree to do so - albeit often at high prices where the fees bear little relation to the work involved. Unfortunately there is no statute that requires fixed charges for administrative tasks. There is no set time frame by which they are required to issue answers.