I am acquiring a house mortgage free in Low Fell. I have been living for the last 15 years in Low Fell. Conveyancing searches are exorbitant. Given that I know the road and vicinity very well should I not bother getting the solicitor to do all the conveyancing searches?
Provided that you do not need a home loan, then almost all of the Low Fell conveyancing searches are non-obligatory. Your lawyer will try and steer you, no-doubt strongly, that you should have searches carried out, but he has a professional duty to take that path of advice. Do bear in mind; if you are intend to sell the house one day, it may be of importance to your future purchaser what the searches disclose. Sometimes houses with no practical issues can still show up adverse search results. A competent conveyancing solicitor in Low Fell should be able to give you some sensible advice concerning this.
Having sold my house in Low Fell last September but the buyer keeps whats apping daily complaining that their solicitor needs to hear from myconveyancer. What are the post completion sale legalities following completion?
After completion of your disposal your lawyer should send the transfer deeds and all supplemental paperwork to the buyer’s conveyancer. Where appropriate, your solicitor should also send confirmation that the mortgage has been discharged to the purchasers conveyancers. There is unlikely to be post completion requirements just for conveyancing in Low Fell.
Please explain the implications if my solicitor is removed from the Santander Conveyancing panel ahead of completing my conveyancing in Low Fell?
First, 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 bought my home on 9 October and the transaction details is not yet registered. Any reason for this? My conveyancing solicitor in Low Fell expressed confidence that it should be registered in less than a month. Are properties in Low Fell uniquely lengthy to register?
As far as conveyancing in Low Fell registration is no faster or slower than the rest of the country. Rather than based on location, timescales can vary subject to the party submitting the application, whether it is in order and whether the Land registry need to notify any 3rd persons or bodies. At present roughly 80% of submission are fully addressed within two weeks but occasionally there can be extensive hold-ups. Historically registration occurs once the purchaser is living at the premises thus an expedited registration is not always an essential issue yet if it is urgent that the the registration takes place urgently then you or your lawyers should communicate with the Registry to express the reasoning for an expedited registration.
I'm buying a new build house in Low Fell benefiting from help to buy. The builders would not move on the amount so I negotiated five thousand pounds worth of fixtures and fittings instead. The property agent suggested that I not inform my conveyancer about the side-deal as it will jeopardize my mortgage with Skipton Building Society. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I work for a busy estate agency in Low Fell where we see a number of leasehold sales put at risk due to short leases. I have received contradictory information from local Low Fell conveyancing firms. Could you shed some light as to whether the owner of a flat can initiate 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 commence the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser need not have to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or at the same time as completion of the sale.
An alternative approach is to agree the lease extension with the freeholder 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 inherited a basement flat in Low Fell, conveyancing was carried out half a dozen years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Comparable properties in Low Fell with a long lease are worth £176,000. The ground rent is £50 yearly. The lease comes to an end on 21st October 2105
You have 80 years remaining on your lease we estimate the premium for your lease extension to be between £8,600 and £9,800 plus legals.
The figure above a general guide to costs for renewing a lease, but we are not able to advice on a more accurate figure without more detailed due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There may be other concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. Please do not move forward based on this information without first getting professional advice.