The Dursley conveyancing firm handling our Dursley conveyancing has spotted a discrepancy between the information in the valuation survey and what is revealed within the title deeds. My solicitor says that he is obliged to ensure that the lender is OK with this discrepancy and is content to go ahead. Is my lawyer’s course or action appropriate?
Your conveyancer must comply with the UK Finance Lenders’ Handbook requirements 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.
Are the Dursley conveyancing solicitors identified as being on the Principality conveyancing panel, together with their details provided by Principality?
Dursley conveyancing firms themselves provide us confirmation that they are on the Principality conveyancing panel as opposed to being supplied with a list from Principality directly.
My Conveyancer in Dursley is not listed on the Norwich and Peterborough Building Society Solicitor Panel. Is it possible for me to continue with my family solicitor even though they are excluded from the Norwich and Peterborough Building Society approved list?
The limited options available to you here include:
- Carry on with your preferred Dursley solicitors but Norwich and Peterborough Building Society will need to instruct a solicitor on their list of acceptable firms. This will result in additional overall conveyancing fees as well as cause delays.
- Choose an alternative practitioner to act in the conveyancing, not forgetting to check they are on the Norwich and Peterborough Building Society panel
Is there anything unique about your site and alternative web based conveyancing solicitors when it comes to conveyancing in Dursley?
At this site obtain a fixed fee costs illustration from a Solicitor or Licensed Conveyancer that appreciates the nuances for your conveyancing in Dursley. As opposed to estate agents and many comparison sites we do not operate kick-back deals with solicitors. Some agents and online brokers 'recommend' solicitors that pays the most kickback, rather than the best value conveyancing in Dursley
I am looking at a couple of apartments in Dursley which have about fifty years unexpired on the leases. Will this present a problem?
There is no doubt about it. A leasehold apartment in Dursley is a wasting asset as a result of the reducing lease term. The nearer the lease gets to its expiry date, the more it reduces the value of the premises. For most buyers and lenders, leases with less than 75 years become less and less attractive. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of a residence with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Dursley conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending the lease. They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that any new terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.
I am the registered owner of a leasehold flat in Dursley, conveyancing was carried out March 1998. Can you give me give me an indication of the likely cost of a lease extension? Equivalent flats in Dursley with over 90 years remaining are worth £211,000. The average or mid-range amount of ground rent is £45 levied per year. The lease terminates on 21st October 2092
With 67 years remaining on your lease we estimate the price of your lease extension to span between £10,500 and £12,000 as well as professional fees.
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 without more comprehensive investigations. Do not use the figures in tribunal or court proceedings. There may be other issues that need to be taken into account and clearly you should 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.
We are considering instructing a web based conveyancing practitioner ahead of a Dursley conveyancing firm. Should I ‘stay local’?
There are advantages of being able to visit a local Dursley conveyancing solicitor such as
- signing papers same day
- sometimes being able to see someone face-to-face can make a huge difference, particularly for non-standard transactions
- the ability to complain if matters need to addressed
When analysing estimates, look out for hidden extras. Most decent Dursley high street solicitors give an all-inclusive figure. Many online agents appear to offer discounted prices, but have hidden 'extras' in the small print.