Please explain the implications if my lawyer’s firm is removed from the Virgin Money Conveyancing panel ahead of completing my conveyancing in Haslington?
The first thing to point out is that, this is a very rare occurrence. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit at a cost.
I completed on my house on 3 August and my personal details are still not registered. Need I be worried? My conveyancing solicitor in Haslington advises it would be formalised inside ten days. Are properties in Haslington uniquely lengthy to register?
As far as conveyancing in Haslington is concerned, registration is no quicker or slower than the rest of England and Wales. As opposed to being determined by geographic area, timeframes can vary according to the party submitting the application, whether it is in order and if the Land registry must send notices to any other persons or bodies. As of today approximately 80% of submission are completed within 12 days but some can be subject to longer delays. Historically registration occurs once the purchaser has moved in to the premises therefore an expedited registration is not usually an essential issue yet if there is a degree of urgency associated with the registration then you or your solicitor could contact the land registry and explain the circumstances.
How does conveyancing in Haslington differ for newly converted properties?
Most buyers of new build or newly converted property in Haslington approach us having been asked by the builder to sign contracts and commit to the purchase even before the residence is ready to move into. This is because developers in Haslington tend to purchase the real estate, 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 conveyancers 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 Haslington or who has acted in the same development.
I am looking for a leasehold apartment up to £305k and found one near me in Haslington I like with amenity areas and railway links nearby, however it's only got 49 remaining years left on the lease. I can't really find anything else in Haslington for this price, so just wondered if I would be making a grave error purchasing a lease with such few years left?
Should you require a home loan the shortness of the lease will likely be a potential deal breaker. Reduce the offer by the anticipated lease extension will cost if not already taken into account. If the current owner has owned the premises for a minimum of 2 years you could request that they commence the lease extension formalities 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 solicitor concerning this matter.
What advice can you give us when it comes to appointing a Haslington conveyancing firm to carry out our lease extension conveyancing?
When appointing a conveyancer for lease extension works (regardless if they are a Haslington conveyancing practice) it is essential that he or she should be familiar with the legislation and specialises in this area of conveyancing. We advise that you speak with two or three firms including non Haslington conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. The following questions could be of use:
-
Can they put you in touch with clients in Haslington who can give a testimonial? If they are not ALEP accredited then why not?
I purchased a garden flat in Haslington, conveyancing formalities finalised half a dozen years ago. Can you give me give me an indication of the likely cost of a lease extension? Corresponding flats in Haslington with over 90 years remaining are worth £202,000. The ground rent is £60 per annum. The lease ceases on 21st October 2082
With 57 years unexpired we estimate the price of your lease extension to be between £28,500 and £33,000 as well as plus your own and the landlord's "reasonable" professional fees.
The suggested premium range above a general guide to costs for extending a lease, but we are not able to advice on a more accurate figure in the absence of comprehensive due diligence. You should not use this information in a Notice of Claim or as an informal offer. There may be other concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. You should not move forward placing reliance on this information before seeking the advice of a professional.
We are in the process of buying a flat in Haslington. Could our property lawyer keep the amount we are are purchasing for private from sites such as Zoopla. Is this possible and how?
HMLR as a matter of law bound to specify price sold data on a register of the title for domestic properties nationwide which includes premises in Haslington. The register of title is a public document, so HMLR would be breaching their statutory duty if they did not grant access to the register.
In essence you can make a request of HMLR to withhold the price paid entry however the response would be in the negative.