Me and my husband are purchasing property in Much Wenlock. My Conveyancer is not on the mortgage company solicitor panel. Is it possible for me to appoint my Much Wenlock conveyancing solicitor notwithstanding that they are not on the mortgage company panel?
One will need to appoint a conveyancer to deal with the formalities if you need a mortgage to buy your home. They will conduct all the essential due diligence on the property, ensuring that you’re registered as proprietor and ensure that all the necessary mortgage paperwork is in order. One can appoint a Much Wenlock solicitor of your choosing. However, if the property lawyer appointed is not a member of the bank approved list supplemental fees will be levied as separate legal representation will be required by them. Lender panel applications can be submitted, so provided your solicitor has not in the past applied for membership they should do so.
We see that you have a post code search directory listing solicitors on the UBS conveyancing panel. Do firms pay you a commission if I retain them for our own conveyancing in Much Wenlock?
We are a listing service only for law firms wishing to communicate if they are on the UBS conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Much Wenlock.
How do I discover of the solicitor handling my conveyancing in Much Wenlock is on the bank’sconveyancing panel? I am looking to avoid the situation of having one lawyer for me and one for Yorkshire Building Society thus paying £192.00 in further legal fees.
You should take advantage of the search tool on this page. Pick the lender and type ‘Much Wenlock’ or your preferred area and you will see a number of lawyer located in Much Wenlock or near you.
Over the last few months I have been searching for a ground for flat up to £245,000 and identified one close by in Much Wenlock I like with open areas and transport links in the vicinity, however it only has 61 years unexpired on the lease. There is not much else in Much Wenlock in this price bracket, so just wondered if I would be making a grave error purchasing a short lease?
Should you need a mortgage that many years will be problematic. Discount the offer by the amount the lease extension will cost if not already taken into account. If the existing owner has owned the property for at least 2 years you may request that they commence the lease extension formalities and pass it to you. You can add 90 years to the current lease term and have £0 ground rent by law. You should speak to your conveyancing lawyer concerning this matter.
Are there any apps to assist me to locate a Much Wenlock law firm on the Nottingham Building Society conveyancing panel? I am a keen cyclist and am happy to travel upto 20miles to meet the solicitor.
Feel free to make use of the facility on this website. Please choose the bank and your location and you will see a number of Much Wenlock conveyancing lawyers based on proximity. We have listed some Much Wenlock conveyancing firms towards the end of this page and you can telephone them to see if they are on the Nottingham Building Society member panel
I work for a busy estate agency in Much Wenlock where we have witnessed a number of flat sales derailed as a result of leases having less than 80 years remaining. I have been given conflicting advice from local Much Wenlock conveyancing solicitors. Please can you clarify whether the owner of a flat can start the lease extension process for the purchaser on completion of the sale?
Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer 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 needs to be completed prior to, or at the same time as completion of the sale.
Alternatively, it may be possible 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 am the registered owner of a leasehold flat in Much Wenlock, conveyancing having been completed 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? Corresponding properties in Much Wenlock with a long lease are worth £185,000. The ground rent is £65 per annum. The lease expires on 21st October 2085
You have 60 years left to run the likely cost is going to be between £20,000 and £23,000 as well as legals.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of comprehensive due diligence. Do not use this information in tribunal or court proceedings. There are no doubt other issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. You should not move forward based on this information without first getting professional advice.