We are planning to acquire a flat and require a conveyancing solicitor in Grappenhall who is on the Virgin Money approved panel. Could you point me in the right direction as regards a solicitor?
Our service is limited to being a directory service for firms who wish to be listed as being on the approved conveyancing panel for Virgin Money . We don't recommend any particular firms conducting conveyancing in Grappenhall.
We wanted to use a conveyancing solicitor in Grappenhall for our house move. Our broker informed us that our bank National Westminster Bank won't deal with them. Surely this is unduly restrictive?
Before the recession most banks had a different appetite for risk. Almost all Grappenhall conveyancing firms would have been on most bank panels. The FSA in 2010 conducted a thematic review into mortgage fraud which concluded: mortgage lenders should know the conveyancing solicitors dealt with. Consequently, lenders are increasingly seeing more data from law firms about their operations and their employees and establishing certain criteria such a completing on a minimum amount of transactions. Many Grappenhall conveyancing firms that have been excluded from lender panels have Unblemished track record, no complaints and no claims and didn't just 'dabble' in conveyancing. Grappenhall is one of the many locations where the lawyers showing on our search results are on the panel for National Westminster Bank.
Me and my brother have a semi-detached Georgian property in Grappenhall. Conveyancing practitioner represented me and Yorkshire Building Society. I happened to do a free search for it on the Land Registry database and there are a couple of entries: one for freehold, another for leasehold under the matching address. Is it worth asking Yorkshire Building Society to clarify?
You should assess the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Grappenhall and other areas of the country and poses no real issues for owners other than when they remortgage they have to account for both freehold and leasehold interests when dealing with purchasers. You can also question the position with your conveyancing lawyer who conducted the work.
How does conveyancing in Grappenhall differ for newly converted properties?
Most buyers of new build premises in Grappenhall come to us having been asked by the seller to sign contracts and commit to the purchase even before the residence is built. This is because new home sellers in Grappenhall tend to buy the site, 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 conveyancing solicitors 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 used to new build conveyancing in Grappenhall or who has acted in the same development.
I have been on the look out for a flat up to £305k and identified one close by in Grappenhall I like with a park and railway links in the vicinity, however it only has 61 remaining years left on the lease. There is not much else in Grappenhall in this price bracket, so just wondered if I would be making a grave error purchasing a short lease?
If you need a home loan the remaining unexpired lease term may be an issue. Reduce the offer by the expected lease extension will cost if it has not already been discounted. If the existing owner has owned the premises for at least twenty four months you could ask them to start the process of the extension and pass it to you. You can add 90 years to the existing lease term and have £0 ground rent by law. You should speak to your conveyancing lawyer about this matter.
I am employed by a long established estate agency in Grappenhall where we see a few leasehold sales jeopardised due to short leases. I have received conflicting advice from local Grappenhall conveyancing firms. Can you confirm whether the vendor of a flat can initiate the lease extension process for the buyer?
Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer 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 own a studio flat in Grappenhall, conveyancing was carried out in 2006. Can you shed any light on how much the price could be for a 90 year extension to my lease? Similar properties in Grappenhall with an extended lease are worth £179,000. The average or mid-range amount of ground rent is £65 charged once a year. The lease comes to an end on 21st October 2081
With only 57 years remaining on your lease the likely cost is going to range between £26,600 and £30,800 as well as costs.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs 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 considered and clearly you should be as accurate as possible in your negotiations. Please do not take any other action based on this information before seeking the advice of a professional.