We are purchasing a 2 bedroom flat in Edgbaston with a mortgage. We would like to retain our Edgbaston solicitor, however the mortgage company says he's not on their "panel". It seems we have little choice but to instruct one of the bank panel firms or continue with our Edgbaston conveyancer and pay for one of their panel ones to represent them. We regard this is inequitable; are we not able to insist that the mortgage company use our Edgbaston conveyancing practitioner ?
No, not really. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the lender’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your Edgbaston conveyancing lawyer to apply to be on the conveyancing panel.
My wife and I have recently appointed a conveyancing solicitor in Edgbaston. I I am struggling to find out whether they are on the Nottingham Building Society approved list of lawyers. Can you help?
You should contact your solicitor and ask them whether they are on the lender panel. Otherwise you should call Nottingham Building Society who may be able to assist.
What will a local search tell me regarding the house my wife and I buying in Edgbaston?
Edgbaston conveyancing often commences with the applying for local authority searches directly from your local Authority or through a personal search company for instance PSG The local search is essential in every Edgbaston conveyancing purchase; that is if you don’t want any unpleasant surprises after you move into your property. The search should provide information on, amongst other things, details on planning applications applicable to the property (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of thirteen subject headings.
The estate agent has sent us the confirmation of our purchase of a new build apartment in Edgbaston. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.
Here are examples of a selection of leasehold new build enquiries that you should expect your new-build leasehold conveyancing in Edgbaston
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Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? Please supply a car parking plan. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided.
I have been on the look out for a leasehold apartment up to £235,500 and identified one round the corner in Edgbaston I like with open areas and station in the vicinity, however it's only got 61 remaining years left on the lease. I can't really find anything else in Edgbaston suitable, so just wondered if I would be making a mistake purchasing a short lease?
Should you need a mortgage that many years will likely be an issue. Reduce the price by the amount the lease extension will cost if it has not already been discounted. If the current owner has owned the premises for a minimum of 2 years you could ask them to start the process of the extension and then assign it to you. An additional ninety years can be extended on to the existing lease and have £0 ground rent by law. You should speak to your conveyancing lawyer regarding this.
I am in need of some leasehold conveyancing in Edgbaston. Before I set the wheels in motion I require certainty as to the number of years remaining on the lease.
Assuming the lease is recorded at the land registry - and almost all are in Edgbaston - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
I am the registered owner of a basement flat in Edgbaston, conveyancing formalities finalised half a dozen years ago. Can you give me give me an indication of the likely cost of a lease extension? Comparable flats in Edgbaston with a long lease are worth £211,000. The average or mid-range amount of ground rent is £45 levied per year. The lease ceases on 21st October 2094
With 68 years left to run we estimate the price of your lease extension to span between £9,500 and £11,000 as well as professional fees.
The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you the actual costs in the absence of detailed investigations. You should not use the figures in a Notice of Claim or as an informal offer. There may be other concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Please do not move forward based on this information before getting professional advice.