I am buying an apartment in Fakenham. My Conveyancer is not listed on the bank solicitor list. Is it possible for me to retain my Fakenham conveyancing solicitor notwithstanding that they are excluded from the mortgage company panel?
You have numerous choices available to you here
- Complete the deal with your chosen Fakenham conveyancer but your lender will undoubtedly appoint a conveyancing practitioner from their approved list. This will result in additional cost together with potential frustration.
- Appoint a fresh conveyancer to conduct the conveyancing, making sure they are on the lender conveyancing panel.
- Convince your property lawyer to attempt to join the bank panel
I am buying a brand new flat in Fakenham and my lawyer is informing me that she has to the lender to reveal incentives from the builder. I am under pressure to sign contracts and my preference is not to prolong the conveyancing. is my lawyer playing by the book?
You should not exchange unless you have been advised to do so by your property lawyer. A precondition to being on a mortgage company panel is to comply with the UK Finance Lenders’ Handbook conditions. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
I've recently found out that there is a flying freehold issue on a property I have offered on last month in what was supposed to be a simple, no chain conveyancing. Fakenham is where the house is located. Is there any guidance you can impart?
Flying freeholds in Fakenham are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Fakenham you must be sure that your lawyer goes through the deeds thoroughly. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Fakenham may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
In my capacity as executor for the estate of my aunt I am disposing of a residence in Cardiff but reside in Fakenham. My lawyer (approximately 250 miles from meneeds me to sign a stat dec ahead of completion. Could you suggest a conveyancing practitioner in Fakenham who can attest and place their company stamp on the document?
strictly speaking you are unlikely to need to have the documents attested by a conveyancing solicitor. Ordinarily or notary public or qualified solicitor will be fine regardless of whether they are located in Fakenham
I work for a reputable estate agent office in Fakenham where we have witnessed a few flat sales put at risk as a result of short leases. I have received contradictory information from local Fakenham conveyancing firms. Please can you clarify whether the vendor of a flat can start the lease extension process for the purchaser on completion of the sale?
Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser can avoid having to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or at the same time as completion of the sale.
Alternatively, it may be possible to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.
I bought a studio flat in Fakenham, conveyancing formalities finalised 5 years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Similar flats in Fakenham with over 90 years remaining are worth £206,000. The average or mid-range amount of ground rent is £45 invoiced annually. The lease ceases on 21st October 2091
You have 66 years left to run the likely cost is going to span between £12,400 and £14,200 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 provide a more accurate figure in the absence of comprehensive investigations. You should not use this information in tribunal or court proceedings. 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 move forward based on this information before getting professional advice.
I am seeking to acquire a repression house in Fakenham and the vendor would like to complete inside a week. Do conveyancers meet that timeframe? Am I best advised to use a local Fakenham firm or an online organisation that advertises to offer speedy conveyancing?
Visit your Fakenham shopping parade. Pop in to two or three companies and request to talk to a conveyancing solicitor for a quote. Explain your situation and seek assurances on speed. Choose the firm that seems most efficient. You need to use a lawyer on the panel of solicitors approved by your lender.