Can you vouch for a Lloyds TSB Bank approved Market Drayton conveyancing firm that can complete within 10 days? Am I best advised to go for a high street Market Drayton practice or an internet conveyancer?
We would be happy to suggest some excellent Market Drayton conveyancing firms. Another option is to visit the high street in Market Drayton. Approach a couple of firms and ask to speak with a conveyancing solicitor for a fee estimate. Explain your time frames together with the reasons and ask for an assurance on your deadline. Appoint the lawyer that you are most comfortable with.
I purchased a freehold residence in Market Drayton but still invoiced for rent, why is this and what is this?
It is rare for properties in Market Drayton and has limited impact for conveyancing in Market Drayton but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges date back many centuries, but the Rent Charge Act 1977 barred the generation of new rentcharges from 1977 onwards.
Previous rentcharges can now be redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence after 2037 will be dispensed with completely.
I am helping my sister sell her property in Market Drayton. Does the conveyancer order an energy performance certificate or it is for the seller to coordinate?
Following the demise of Home Information Packs, energy assessments was kept a compulsory part of selling a house. An energy assessment must be to hand in advance of the property being marketed. It is not a task that lawyers normally organise. Where you are using a Market Drayton conveyancing solicitor they might be able to arrange energy assessments given their contacts with long established local providers
When it comes to lenders such as Kent Reliance, do Market Drayton lawyers have to pay a fee to be on the list of approved solicitors?
We are not aware of any lender fees to be on their panel, although some do levy an administration fee to deal with the processing of the conveyancing panel submission.
It is not clear whether my mortgage offer obliges me to make sure the lease term for the flat is extended prior to the completion date. I have called into my local Market Drayton bank branch on numerous occasions and was told they are content with the situation and they will lend. My Market Drayton conveyancing solicitor - who is on the mortgage company conveyancing panel- called and was told they refuse to lend in accordance with their published requirements. I simply don't know who is right.
Provided that the solicitor is on the bank approved list, she or he must comply with the CML Handbook specifications for the bank. Unless your lawyer obtains specific confirmation in writing that the lender will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the lender to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
My colleague advised me that if I am purchasing in Market Drayton I should carry out a Neighbourhood, Planning and Local Amenity Search. What does it cover?
A search of this type is occasionally included in the estimate for your Market Drayton conveyancing searches. It is a large report of about 40 pages, listing and detailing significant information about Market Drayton around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Market Drayton Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average Property Price, Crime details, Market Drayton Education with maps and statistics, Local Amenities and other useful information about Market Drayton.
I'm purchasing a new build house in Market Drayton with the aid of help to buy. The builders refused to reduce the price so I negotiated £7000 of fixtures and fittings instead. The estate agent suggested that I not inform my conveyancer about the deal as it could put at risk my mortgage with the bank. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the builder 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've recently bought a leasehold flat in Market Drayton. Am I liable to pay service charges for periods before completion of my purchase?
In a situation where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I bought a basement flat in Market Drayton, conveyancing formalities finalised May 2005. Can you shed any light on how much the price could be for a 90 year extension to my lease? Comparable flats in Market Drayton with a long lease are worth £186,000. The average or mid-range amount of ground rent is £55 levied per year. The lease runs out on 21st October 2078
With just 52 years left to run we estimate the premium for your lease extension to span between £29,500 and £34,000 plus professional fees.
The figure above a general guide to costs for renewing a lease, but we are not able to supply the actual costs in the absence of detailed due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There may be additional concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. You should not move forward placing reliance on this information without first getting professional advice.