The Heysham conveyancing lawyers that I appointed last week on my purchase in Heysham have suddenly closed. I only went with them because I needed a firm on the RBS conveyancing panel and my previous Heysham lawyer was not. I paid them £170 in advance. What should be my next steps?
If you have an estate agent involved then inform them straight away so that they advise the vendors that there may be a slight delay due to reasons beyond your control. Hopefully they will be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You should appoint new lawyers that are on the RBS conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new solicitors may be able to assist.
I require quick conveyancing in Heysham as I am under a deadline to exchange contracts within one month. A home loan is not required. Can I decline from having conveyancing searches to save fees and time?
If.Given you are not taking a home loan you have the choice not to do searches although no law firm would recommend that you don't. Drawing on years of experience of conveyancing in Heysham the following are instances of issues that can arise and adversely affect future saleability: Enforcement Actions, Outstanding Fees, Outstanding Grants, Railway Schemes,...
Due to the input of my in-laws I had a survey completed on a property in Heysham ahead of retaining lawyers. I have been informed that there is a flying freehold aspect to the property. My surveyor has said that some banks will refuse to give a mortgage on such a home.
It depends who your proposed lender is. Santander has different requirements from Birmingham Midshires. Should you wish to telephone us we can check via the appropriate lender. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Heysham. Conveyancing may be slightly more expensive based on your lender's requirements.
How does the Landlord & Tenant Act 1954 impact my commercial offices in Heysham and how can you help?
The particular law that you refer to provides security of tenure to business tenants, giving them the a statutory right to apply to court for a renewal lease and remain in occupation at the end of the lease term. There are certain specified grounds that a landlord can refrain from granting a lease renewal and the rules are complex. We are happy to direct you to commercial conveyancing solicitors who use the act for protection and assist with commercial conveyancing in Heysham
In my capacity as executor for the will of my grandmother I am disposing of a property in Neath but I am based in Heysham. My solicitor (who is 200 miles awayneeds me to execute a stat dec prior to the transaction finalising. Could you suggest a conveyancing solicitor in Heysham to witness this legal document for me?
strictly speaking you are not likely to need to have the documents attested by a conveyancing solicitor. Ordinarily or notary public or solicitor will do regardless of whether they are located in Heysham
I am looking at a couple of apartments in Heysham both have in the region of fifty years remaining on the leases. should I be concerned?
There is no doubt about it. A leasehold apartment in Heysham is a deteriorating asset as a result of the shortening lease. The nearer the lease gets to its expiry date, the more it adversely affects the value of the premises. The majority of buyers and banks, leases with less than 75 years become less and less marketable. On a more upbeat note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property 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 residence 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 Heysham 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. They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. 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.
Leasehold Conveyancing in Heysham - Examples of Queries Prior to Purchasing
-
Who takes charge for maintaining and repairing the block? How much is the ground rent and service charge?