My fiance and I are buying a newly converted apartment in Harleston with a homeloan from Nationwide Building Society.We have a Harleston conveyancing lawyer but Nationwide Building Society advised that he's not on their approved list of member firms. we are left little option but to use a Nationwide Building Society panel lawyer or keep our high street solicitor and fork out for one of their panel ones to represent them. We feel as though this is unjust; Can we not simply insist that Nationwide Building Society use our lawyer?
Unfortunately,no. The mortgage offered to you is subject to its various provisions, a common one being that solicitors needs to be on the Nationwide Building Society solicitor panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your solicitors to apply to be on the conveyancing panel for Nationwide Building Society
I've recently found out that there is a flying freehold issue on a property I have offered on a fortnight ago in what was supposed to be a quick, no chain conveyancing. Harleston is the location of the property. Is there any advice you can give?
Flying freeholds in Harleston are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Harleston you would need to get your solicitor to go through the deeds diligently. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Harleston 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 property.
Taking into account that I will soon part with hundreds of thousands of pounds on a terraced house in Harleston I wish to have a conversation with the conveyancer about mytransaction in advance of giving the go ahead to the firm. Can this be arranged?
We could not agree more - it is our preference to talk to you we do not take any clients on without you speaking to the solicitor who will be carrying out your property ownership legalities in Harleston.There is no ‘factory style conveyancing’ - each client is unique individual, not a matter number. The law firms that we put you in touch with believe that the figure you are calculated and presented to you for residential conveyancing in Harleston should be the amount on the final invoice that you are charged.
I need to find a conveyancing solicitor for purchase conveyancing in Harleston. I happened to chance upon a site which seems to have the ideal offering If there is a chance to get all this stuff done via phone that would be ideal. Should I be concerned? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
I am tempted by the attractive purchase price for a two flats in Harleston both have in the region of forty five years left on the lease term. Do I need to be concerned?
There is no doubt about it. A leasehold flat in Harleston is a deteriorating asset as a result of the shortening lease. The nearer the lease gets to zero years unexpired, the more it reduces the salability of the property. For most purchasers and lenders, leases with under eighty years become less and less attractive. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of a property with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Harleston conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease. You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that the agreed terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.
I acquired a 2 bed flat in Harleston, conveyancing having been completed January 2003. Can you let me have an estimated range of the fair premium for a lease extension? Comparable flats in Harleston with a long lease are worth £195,000. The average or mid-range amount of ground rent is £45 per annum. The lease runs out on 21st October 2088
With 63 years left to run we estimate the premium for your lease extension to range between £16,200 and £18,600 plus plus your own and the landlord's "reasonable" professional fees.
The suggested premium range above a general guide to costs for renewing a lease, but we are not able to advice on the actual costs without more detailed investigations. Do not use the figures in tribunal or court proceedings. There may be additional issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information before getting professional advice.
Are you able to clarify the variety of conveyancing conducted by Harleston conveyancing solicitors?
Almost all Harleston conveyancing practices manage to conduct various legal advice to domestic and rural land owners, vendors, investors, freeholders and leaseholders which may include:
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Residential sale conveyancing in Harleston and across the country
Domestic purchase conveyancing in Harleston and throughout England and Wales
Property investment and buying to Let Drafting in respect of rights of drainage, services, and access (Easements) Probate conveyancing and court of protection New Build Full and Part Exchange