My husband and I are acquiring a brand new apartment in Griffithstown and my lawyer is telling me that she has to the bank to disclose incentives from the seller. I am nearing the developer’s deadline to sign contracts and I don't want to delay matters. is my lawyer playing by the book?
You should not exchange unless you have been advised to do so by your solicitor. A precondition to being on a bank panel is to comply with the UK Finance Lenders’ Handbook requirements. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
My flat in Griffithstown is up for sale and I have accepted an offer. Will the conveyancer have to be on the Nationwide conveyancing panel in order to deal with the discharge of my mortgage?
Ordinarily, even if your lawyer is not on the Nationwide conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their panel criteria fairly frequently currently.
Yesterday I discovered that there is a flying freehold issue on a property I have offered on a fortnight ago in what should have been a quick, chain free conveyancing. Griffithstown is where the house is located. What do you suggest?
Flying freeholds in Griffithstown are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Griffithstown you must be sure that your lawyer goes through the deeds very carefully. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Griffithstown 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.
Is it simple use the search tool to find a conveyancing lawyer in Griffithstown on the authorised to act for my mortgage?
Step one is to choose a bank such as Santander, Norwich and Peterborough Building Society or TSB then specify your location for example Griffithstown. Conveyancing practices in Griffithstown and nationally should be identified.
I have recently realised that I have 68 years unexpired on my lease in Griffithstown. I now want to get lease extension but my landlord is missing. What options are available to me?
If you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be granted an extra 90 years by the magistrate. However, you will be required to prove that you have made all reasonable attempts to track down the landlord. On the whole a specialist should be useful to carry out a search and prepare a report to be used as proof that the landlord is indeed missing. It is wise to seek advice from a solicitor both on devolving into the landlord’s absence and the application to the County Court covering Griffithstown.
I purchased a basement flat in Griffithstown, conveyancing formalities finalised half a dozen years ago. Can you please calculate a probable premium for a statutory lease extension? Equivalent flats in Griffithstown with an extended lease are worth £186,000. The ground rent is £55 charged once a year. The lease terminates on 21st October 2076
You have 52 years remaining on your lease we estimate the premium for your lease extension to span between £29,500 and £34,000 as well as costs.
The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of detailed investigations. Do not use this information in tribunal or court proceedings. There are no doubt other concerns that need to be considered and clearly you should 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.
Why can't I complete our conveyancing in Griffithstown on Good Friday?
This is due to the fact that on completion the funds will pass between the banks of the buyer and seller's property lawyer and at present this can only happen on a business day. It is not possible to complete on a saturday or sunday either.