The owners have rather assertive vendors who has insisted on a exclusivity contract with a non-refundable deposit 6,000. Is it wise to enter into such agreements?
This type of preliminary agreement isn't frequently used in Milnthorpe, conveyancers are often inclined to direct clients away from them as they divert attention from the main conveyancing focus and if you end up losing your deposit then the solicitor at best left with an upset client and at worst a litigious one. Furthermore, there is no certainty that just because the owner has executed a lock out agreement they will complete the sale with you. They may be motivated to break the contract if they receive sufficient offer to do so because a wronged party with the benefit of a exclusivity agreement will still be duty bound to show losses as a consequence of the breach and this may not equate the extra amount that your vendor may gain by breaching the agreement, however morally reprehensible that may be.
I am planning to acquire a flat and require a conveyancing solicitor in Milnthorpe who is on the Bank of Ireland conveyancing. Could you point me in the right direction as regards a firm?
Our service is limited to being a directory service for firms who wish to listed as being on the approved conveyancing panel for Bank of Ireland in certain locations such as Milnthorpe. We dont recommend any particular firm.
I own a 4 bedroom Edwardian property in Milnthorpe. Conveyancing solicitor acted for me and Leeds Building Society. I happened to do a free search for it on the Land Registry database and I saw two entries: one for freehold, another for leasehold with the matching address. If a house is not a freehold shouldn't I have been informed?
You should read the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Milnthorpe and other areas of the country and poses no real issues for owners other than when they buy they have to account for both freehold and leasehold interests when dealing with buyers. You can also enquire as to the position with your conveyancing practitioner who conducted the purchase.
Due to the guidance of my in-laws I had a survey completed on a property in Milnthorpe ahead of instructing lawyers. I have been informed that there is a flying freehold element to the property. Our surveyor has said that some lenders will not issue a mortgage on a flying freehold home.
It depends who your proposed lender is. Bank of Scotland has different requirements for example to Birmingham Midshires. If you e-mail us we can check via the appropriate bank. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Milnthorpe. Conveyancing may be slightly more expensive based on your lender's requirements.
My wife and I purchased a leasehold house in Milnthorpe. Conveyancing and National Westminster Bank mortgage organised. A letter has just been received from someone claiming to own the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1993. The conveyancing solicitor in Milnthorpe who acted for me is not around. What should I do?
First contact the Land Registry to be sure that this person is in fact the registered owner of the freehold reversion. You do not need to instruct a Milnthorpe conveyancing firm to do this as you can do this on the Land Registry website for a few pound. You should note that in any event, even if this is the legitimate freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I invested in buying a basement flat in Milnthorpe, conveyancing having been completed 8 years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Similar properties in Milnthorpe with over 90 years remaining are worth £186,000. The ground rent is £55 charged once a year. The lease ends on 21st October 2077
With just 52 years left to run we estimate the premium for your lease extension to span between £29,500 and £34,000 as well as professional fees.
The suggested premium range above a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more detailed investigations. You should not use this information in a Notice of Claim or as an informal offer. 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. You should not take any other action based on this information before getting professional advice.
It has taken forever and a day but a mortgage agreement from a lender for the refinancing of my 2 bedroom flat is coming within the next few days. Can you suggest a low cost remortgage conveyancing practitioner in Milnthorpe ?
This site is not designed to help in pursuit of the cheapest conveyancing solicitors in Milnthorpe. Our goal is to offer cost effective conveyancing but we do not work with the cheapest lawyers. Do not be fooled by companies offering low cost conveyancing in Milnthorpe.In your best case scenario, in opting for cheap conveyancing, you will get what you pay for and at worst you will end up being stung for extras and still not receive the service you were looking for.