We are looking to buy a property and require a conveyancing solicitor in Great Yarmouth who is on the Barclays conveyancing panel. Can you recommend a local conveyancing firm?
Our service is limited to being a directory service for firms who wish to be listed as being on the approved conveyancing panel for Barclays . We don't recommend any particular firms conducting conveyancing in Great Yarmouth.
When it comes to mortgage companies such as Nationwide, do Great Yarmouth conveyancers face a fee to be on the conveyancing panel?
We are not aware of any mortgage company fees to be on their panel, although some do charge an administration charge to deal with the processing of the conveyancing panel submission.
I can not fathom if my lender requires a lease extension. I have called into my local Great Yarmouth building society branch on numerous occasions and was advised it wasn't an issue and they would lend. My Great Yarmouth conveyancing solicitor - who is on the mortgage company conveyancing panel- telephoned to say that they refuse to lend in accordance with their published requirements. Who do I believe?
Your conveyancing practitioner must follow the Council of Mortgage Lenders’ Handbook Part 2 requirements for your bank. Unless your lawyer obtains specific confirmation in writing that the bank will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the bank to contact your lawyer in writing confirming that they will accept the number of years remaining.
About to purchase maisonette in Great Yarmouth. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the RBS conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Great Yarmouth property lawyer is on the RBS conveyancing panel.
Will my solicitor be making enquiries regarding flooding during the conveyancing in Great Yarmouth.
The risk of flooding is if increasing concern for solicitors carrying out conveyancing in Great Yarmouth. Some people will buy a property in Great Yarmouth, fully expectant that at some time, it may suffer from flooding. However, aside from the physical damage, where a house is at risk of flooding, it may be difficult to obtain a mortgage, suitable building insurance, or sell the premises. There are steps that can be taken as part of the conveyancing process to forewarn the buyer.
Conveyancers are not qualified to give advice on flood risk, however there are a various checks that can be undertaken by the purchaser or on a buyer’s behalf which will give them a better understanding of the risks in Great Yarmouth. The standard completed inquiry forms given to a purchaser’s solicitor (where the Conveyancing Protocol is adopted) incorporates a standard inquiry of the vendor to find out whether the property has historically flooded. In the event that the premises has been flooded in past which is not notified by the owner, then a buyer could bring a compensation claim resulting from an inaccurate answer. The buyer’s solicitors will also order an enviro search. This will indicate if there is a recorded flood risk. If so, additional investigations should be conducted.
I have been on the look out for a ground for flat up to £245,000 and identified one near me in Great Yarmouth I like with open areas and transport links nearby, however it only has 61 years on the lease. I can't really find anything else in Great Yarmouth for this price, so just wondered if I would be making a mistake acquiring a short lease?
Should you need a mortgage that many years will likely be an issue. Reduce the offer by the amount the lease extension will cost if not already taken into account. If the existing proprietor has owned the premises for a minimum of twenty four months you can request that they commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the existing lease with a zero ground rent applied. You should speak to your conveyancing lawyer about this.
How does the Landlord & Tenant Act 1954 impact my commercial premises in Great Yarmouth and how can you help?
The 1954 Act provides protection to commercial tenants, giving them the dueness to make a request to court for a new tenancy and continue in occupation at the end of the lease term. There are limited grounds where a landlord can refuse a lease renewal and the rules are involved. We are happy to direct you to commercial conveyancing practices who use the act for protection and assist with commercial conveyancing in Great Yarmouth
I today plan to offer on a house that seems to be perfect, at a reasonable figure which is making it all the more appealing. I have just been informed that it's a leasehold as opposed to freehold. I would have thought that there are issues purchasing a house with a leasehold title in Great Yarmouth. Conveyancing advisers have are soon to be instructed. Will they explain the issues?
The majority of houses in Great Yarmouth are freehold and not leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can help the conveyancing process. It is clear that you are purchasing in Great Yarmouth in which case you should be shopping around for a Great Yarmouth conveyancing solicitor and check that they have experience in transacting on leasehold houses. First you will need to check the unexpired lease term. Being a lessee you will not be at liberty to do whatever you want to the property. The lease will likely included provisions such as obtaining the freeholder’sconsent to conduct alterations. You may also be required to pay a maintenance charge towards the maintenance of the communal areas where the house is located on an estate. Your solicitor should advise you fully on all the issues.
I acquired a leasehold flat in Great Yarmouth, conveyancing was carried out November 2010. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Similar properties in Great Yarmouth with over 90 years remaining are worth £195,000. The ground rent is £45 invoiced annually. The lease comes to an end on 21st October 2088
With only 63 years unexpired we estimate the price of your lease extension to range between £16,200 and £18,600 as well as professional fees.
The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more detailed investigations. Do not use this information 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 want to be as accurate as possible in your negotiations. Neither should you move forward based on this information without first getting professional advice.