We have very pushy vendors who has suggested a preliminary contract with a deposit 10k. Are such agreements appropriate for Hedge End and Botley conveyancing transactions?
This kind of contract isn't frequently used in Hedge End and Botley, conveyancers are often inclined to direct clients away from them as they divert attention from the main conveyancing focus and if you end up having your deposit forfeited then the lawyer is left exposed. Furthermore, there is no guarantee that just because the seller has signed an exclusivity agreement they will complete the sale with you. They may be in contravention of the contract if they are offered a big enough offer to do so because a wronged party with the benefit of a exclusivitycontract will still have to show losses as a consequence of the breach and this may not amount to the extra amount that your vendor may obtain by breaking the contract, however morally unworthy the behaviour is.
we are a couple who are purchasing a 2 bedroom apartment in Hedge End and Botley with a homeloan from Yorkshire Building Society.We use our Hedge End and Botley conveyancing solicitor but Yorkshire Building Society says her practice is not on their approved list of member firms. We have to appoint a Yorkshire Building Society panel firm or keep our high street solicitor and fork out for a Yorkshire Building Society panel lawyer to act for them. We feel as though this is unjust; is there anything we can do?
Unfortunately,no. The home loan issued to you contains various provisions, one of which will be that solicitors must be on the Yorkshire Building Society approved list. Until recently, most banks had large numbers of solicitors on their panels: a borrower could find 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. A further alternative is for your lawyer to apply to be on the conveyancing panel for Yorkshire Building Society
This question may be naive but I am new to the process as FTB of a two bedroom flat in Hedge End and Botley. Do I collect the keys to the house on the completion date from my conveyancer? If this is the case, I will use a local conveyancing solicitor in Hedge End and Botley?
On the day of completion you do not need to go to the conveyancers office in Hedge End and Botley. Conveyancing lawyers for you will electronically transfer the completion advance to the seller's lawyers, and once they have received this, you will be able to collect the keys from the selling Agents and start moving into the property. This tends to happen between 1 and 3pm.
I have paid off my mortgage with Leeds Building Society. I assume I don't need a Hedge End and Botley property lawyer on the Leeds Building Society panel to discharge the mortgage at the Land Registry. Please confirm.
If you have finished paying off your Leeds Building Society mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Leeds Building Society mortgage from the register. Leeds Building Society, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Leeds Building Society has sent the Land Registry the discharge electronically, and
- Leeds Building Society has instructed the Land Registry to do so
I've digested plenty of house buying guides, I note that they all recommend that you should get your house surveyed prior to buying it. When I asked my local Hedge End and Botley solicitor - who is on the RBS conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. is that correct?
RBS will need an independent valuation of the property. Your lawyer will not arrange this. Usually RBS will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. Your conveyancer will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by your Hedge End and Botley postcode. As you are getting a mortgage with RBS, you could contact them to see if they have a list of approved surveyors in Hedge End and Botley.
We are buying a house and the conveyancer has referenced Chancel Repair for which the house may be obligated to pay given it’s proximity to the area of such a church. She has suggested insurance. Is this strictly warranted for conveyancing in Hedge End and Botley
Unless a prior acquisition of the house took place after 12 October 2013 you may take it that lawyers conducting conveyancing in Hedge End and Botley to continue to advocate a chancel search and or insurance against a claim.
I decided to have a survey done on a house in Hedge End and Botley before appointing lawyers. I have been told that there is a flying freehold element to the house. Our surveyor has said that some lenders may not give a loan on a flying freehold home.
It varies from the lender to lender. Bank of Scotland has different instructions from Birmingham Midshires. If you contact us we can check via the appropriate lender. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Hedge End and Botley. Conveyancing may be slightly more expensive based on your lender's requirements.
I am a negotiator for a reputable estate agency in Hedge End and Botley where we have witnessed a few flat sales derailed as a result of leases having less than 80 years remaining. I have received conflicting advice from local Hedge End and Botley conveyancing solicitors. Can you confirm whether the vendor of a flat can commence the lease extension formalities for the buyer?
As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to 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 needs to be completed prior to, or simultaneously with completion of the disposal of the property.
Alternatively, it may be possible to extend the lease informally by agreement with the landlord 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 am the registered owner of a 1st floor flat in Hedge End and Botley, conveyancing having been completed June 2010. How much will my lease extension cost? Equivalent properties in Hedge End and Botley with over 90 years remaining are worth £191,000. The ground rent is £55 invoiced every year. The lease terminates on 21st October 2079
With just 53 years unexpired the likely cost is going to range between £27,600 and £31,800 as well as professional fees.
The figure 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 due diligence. You should not use the figures in tribunal or court proceedings. There may be additional issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Please do not take any other action based on this information without first getting professional advice.