What happens if my solicitor is removed from the Santander Solicitor panel ahead of completing my conveyancing in Evesham?
First, this is very unlikely to happen. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit at a cost.
Various internet forums that I have frequented warn that are the number one reason for delay in Evesham house deals. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) published findings of a review by MoveWithUs that conveyancing searches do not figure within the most frequent causes of delays in the conveyancing process. Local searches are not likely to be the root cause of delay in conveyancing in Evesham.
The deeds to my house are lost. The conveyancers who dealt with the conveyancing in Evesham 4 years ago have long since closed. What do I do?
As long as the title is registered the details of your ownership will be recorded by HMLR under a Title Number. It is possible to carry out a search at the Land Registry, identify your house and get current copies of the Registered Entries for less than a fiver. Where the title is Leasehold then the Land Registry will usually retain a file duplicate of the Registered Lease and again, a copy can be ordered for twenty pounds.
I'm buying my first flat in Evesham with the aid of help to buy. The sellers refused to reduce the amount so I negotiated five thousand pounds worth of extras instead. The property agent advised me not to tell my solicitor about this deal as it would impact my mortgage with the lender. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I am looking for a leasehold apartment up to £195,000 and identified one round the corner in Evesham I like with open areas and transport links nearby, the downside is that it only has 52 years on the lease. I can't really find anything else in Evesham suitable, so just wondered if I would be making a mistake acquiring a short lease?
If you require a mortgage the shortness of the lease may be problematic. Reduce the price by the amount the lease extension will cost if not already taken into account. If the current owner has owned the property for at least 2 years you may ask them to commence the lease extension formalities 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 consult your conveyancing solicitor concerning this.
Last March I purchased a leasehold property in Evesham. Do I have any liability for service charges relating to a period prior to completion of my purchase?
Where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I purchased a basement flat in Evesham, conveyancing formalities finalised in 1999. Can you shed any light on how much the price could be for a 90 year extension to my lease? Equivalent properties in Evesham with an extended lease are worth £202,000. The ground rent is £60 charged once a year. The lease terminates on 21st October 2081
With only 56 years unexpired we estimate the price of your lease extension to range between £29,500 and £34,000 as well as legals.
The suggested premium range above a general guide to costs for renewing a lease, but we are not able to advice on the actual costs in the absence of detailed due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information without first seeking the advice of a professional.