As a first time buyer what is the most important piece of guidance you can impart concerning purchase conveyancing in Frome?
You may not hear this from too many lawyers but conveyancing in Frome or throughout Somerset is an adversarial process. Put another way, when it comes to conveyancing there exists plenty of opportunity for confrontation between you and other parties involved in the legal transfer of property. For instance, the vendor, estate agent and sometimes a mortgage company. Choosing a solicitor for your conveyancing in Frome an important selection as your conveyancer is your adviser, and is the SOLE party in the legal process whose interest is to protect your best interests and to keep you safe.
On occasion a third party with a vested interest will try and sway you that you should follow their advice. For example, the selling agent may claim to be assisting by claiming that your solicitor is slow. Or your mortgage broker may try to convince you to do something that is against your lawyers recommendation. You should always trust your lawyer above all other parties when it comes to the legal transfer of property.
I have been told that property searches are the main reason for stalling in Frome house deals. Is this right?
The Council of Property Search Organisations (CoPSO) has noted the conclusions of a review by MoveWithUs that conveyancing searches do not figure within the most frequent causes of delays in the conveyancing process. Searches are unlikely to be the root cause of holding up conveyancing in Frome.
I've recently found out that there is a flying freehold element on a property I have offered on a fortnight ago in what was supposed to be a straight forward, no chain conveyancing. Frome is where the house is located. Can you shed any light on this issue?
Flying freeholds in Frome are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Frome you would need to get your solicitor to go through the deeds thoroughly. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Frome may ascertain 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 premises.
My step-father has recommend that I instruct his conveyancing solicitors in Frome. Should I use them?
Much as we are happy to recommend a Frome conveyancing lawyer the ideal way to find a conveyancing practitioner is to have guidance from friends or relatives who have actually used the conveyancer you're considering.
Back In 2009, I bought a leasehold house in Frome. Conveyancing and Chelsea Building Society mortgage went though with no issue. A letter has just been received from someone claiming to own the freehold. It included a ground rent demand for rent dating back to 1996. The conveyancing practitioner in Frome who acted for me is not around. Do I pay?
First make enquiries of HMLR to make sure that this person is in fact the registered owner of the freehold reversion. You do not need to instruct a Frome conveyancing practitioner to do this as you can do this on the Land Registry website for less than a fiver. Rest assured that in any event, 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 leasehold flat in Frome, conveyancing formalities finalised half a dozen years ago. Can you work out an approximate cost of a lease extension? Comparable properties in Frome with a long lease are worth £186,000. The average or mid-range amount of ground rent is £55 levied per year. The lease terminates on 21st October 2077
With only 52 years left to run the likely cost is going to span between £29,500 and £34,000 as well as costs.
The figure above a general guide to costs for extending a lease, but we are not able to advice on a more accurate figure without more comprehensive investigations. You should not use this information in tribunal or court proceedings. There are no doubt additional concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information before seeking the advice of a professional.
Are the Frome conveyancing lawyers identified as being on the lender conveyancing panel, together with their details provided by the lender?
Frome firms and firms carrying out conveyancing in Frome themselves provide us confirmation that they are on the bank conveyancing panel as opposed to being supplied with a list from the mortgage company directly.