I am purchasing a right to buy a flat in Fairwater. Conveyancing solicitors are said to be ‘a necessary evil’ but can I do it myself?
Leaving aside the complexities and merits of DIY conveyancing in Fairwater you will have to appoint a solicitor on your mortgage company's conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to be made in you doing conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on your lender panel in Fairwater.
I have todayfound out that Stirling Law have closed. They conducted my conveyancing in Fairwater for a purchase of a leasehold apartment 18 months ago. How can I be sure that my home is in my name in the name of the former proprietor?
The easiest 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 Fairwater conveyancing specialists.
How does conveyancing in Fairwater differ for new build properties?
Most buyers of new build premises in Fairwater contact us having been asked by the seller to sign contracts and commit to the purchase even before the property is built. This is because developers in Fairwater tend to purchase 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 conveyancers 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 Fairwater or who has acted in the same development.
I am looking for a conveyancing lawyer in Fairwater for my house move. Can I review a firm’s record with the legal regulator?
Members of the public may read documented Solicitor Regulator Association (SRA) determinations resulting from inquisitions commenced on or after 1 January 2008. Visit Check a solicitor's record. For records about the period before 1 January 2008, or to check a firm's history, telephone 0870 606 2555, 08.00 - 18.00 any week day save for Tuesday when lines open at 9.30am. For callers outside the UK, dial +44 (0)121 329 6800. The regulator sometimes recorded call for training requirements.
Back In 2005, I bought a leasehold house in Fairwater. Conveyancing and Alliance & Leicester mortgage went though with no issue. I have received a letter from someone saying they have taken over the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1995. The conveyancing solicitor in Fairwater who acted for me is not around. What should I do?
First make enquiries of HMLR to be sure that the individual purporting to own the freehold is indeed the new freeholder. You do not need to instruct a Fairwater conveyancing solicitor to do this as it can be done on-line for less than a fiver. You should note that regardless, even if this is the rightful freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I bought a basement flat in Fairwater, conveyancing was carried out in 2002. Can you please calculate a probable premium for a statutory lease extension? Similar flats in Fairwater with a long lease are worth £192,000. The average or mid-range amount of ground rent is £55 invoiced annually. The lease finishes on 21st October 2080
With 54 years left to run we estimate the price of your lease extension to span between £32,300 and £37,400 plus costs.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs in the absence of detailed investigations. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information before seeking the advice of a professional.
We are midway through buying a house in Fairwater. Conveyancing solicitor has told us the property is "Leasehold". Should this adversely affect the salability of the house?
Fairwater conveyancing does not usually involve leasehold houses. The main consideration here is the unexpired lease term and the ground rent. If there are over a hundred years remaining with a nominal rent, it's almost the same as freehold, so it shouldn't impact the marketability significantly.
At the other end of the spectrum, if it's, say, 50 years it will have a adverse impact on the saleability, and probably wouldn't be acceptable to the lender. The length of lease and ground rent will be specified in the lease to be supplied to your conveyancer.