Can you clarify what the consequences are if my lawyer’s firm is expelled from the RBS Conveyancing panel ahead of completing my conveyancing in Marple Bridge?
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 am close to exchanging contracts on the sale of our home in Marple Bridge and according to the buyers it appears that there is a risk of it being constructed on contaminated land. A high street Marple Bridge conveyancer would know that there is no such problem. For the life of me I don't know why the buyers instructed a nationwide conveyancing outfit rather than a conveyancing solicitor in Marple Bridge. Having lived in Marple Bridge for 5 years we know that this is a non issue. Do we get in touch with our local Authority to obtain confirmation need.
It would appear that you have a conveyancing firm already. What do they say? You need to check with your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same ailment)
Are there restrictive covenants that are commonly identified as part of conveyancing in Marple Bridge?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the legal transfer of property in Marple Bridge. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
I've recently found out that there is a flying freehold element on a house I put an offer in last month in what was supposed to be a simple, chain free conveyancing. Marple Bridge is where the house is located. Can you offer any opinion?
Flying freeholds in Marple Bridge are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Marple Bridge you must be sure that your lawyer goes through the deeds very carefully. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Marple Bridge may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
My husband and I are FTB’s - had an offer accepted, but the property agent advised that the seller will only go ahead if we appoint the agent's recommended conveyancers as they want a ‘quick sale’. My instinct tells me that we should use a family solicitor with experience of conveyancing in Marple Bridge
It is unlikely the owners are behind this. Should the vendor require ‘a quick sale', turning down a serious purchaser is is going to put the whole deal at risk. Speak to the vendors direct and make sure they understand (a)you are motivated purchasers (b)you are excited to move forward, with finances arranged © you have nothing to sell (d) you wish to move quickly (e)however you intend to instruct your own,trusted Marple Bridge conveyancing lawyers - as opposed tothose that will provide their negotiator at the agency a kickback or meet his conveyancing figures pre-set by senior management.
I am looking at a two maisonettes in Marple Bridge which have in the region of fifty years remaining on the lease term. Will this present a problem?
There are no two ways about it. A leasehold apartment in Marple Bridge is a deteriorating asset as a result of the reducing lease term. The closer the lease gets to its expiry date, the more it reduces the value of the property. For most buyers and banks, leases with less than eighty years become less and less attractive. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises 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 premises 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 Marple Bridge 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. You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that any new 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.
I own a leasehold flat in Marple Bridge, conveyancing formalities finalised April 2007. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Equivalent properties in Marple Bridge with a long lease are worth £191,000. The ground rent is £55 yearly. The lease ceases on 21st October 2078
With 53 years left to run the likely cost is going to range between £27,600 and £31,800 plus costs.
The figure that we have given is a general guide to costs for renewing a lease, but we are not able to provide the actual costs without more detailed investigations. Do not use this information in tribunal or court proceedings. There are no doubt other concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information before seeking the advice of a professional.