The Northampton conveyancing firm that I appointed last week on my house acquisition in Northampton have suddenly shut down. I only went with them because I had to have a lawyer on the HSBC conveyancing panel and my previous Northampton lawyer was not. I gave my credit card details for them to take £195 for searches. What do I do now?
If you have an estate agent involved then inform them immediately so that they advise the vendors that there may be a slight delay due to the problems encountered. Hopefully they will be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You should appoint new lawyers that are on the HSBC conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new solicitors may be able to assist.
I decided to have a survey completed on a house in Northampton prior to instructing conveyancers. I have been told that there is a flying freehold element to the house. My surveyor has said that some lenders may refuse to grant a loan on such a property.
It varies from the lender to lender. Lloyds has different instructions from Birmingham Midshires. Should you wish to telephone us we can look into this further with the appropriate bank. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Northampton. Conveyancing will be smoother if you use a solicitor in Northampton especially if they are accustomed to such properties in Northampton.
I am a sole trader planning to take an assignment of a lease of a shop on the high street. Can you recommend lawyers offering fixed costs for non-domestic conveyancing in Northampton for under 2k?
We are happy to recommend firms who have an in-depth of experience of commercial conveyancing in Northampton, including the disposal and purchase of businesses as well as simply premises. If you are looking to purchase or lease a shop, pub, restaurant, office, retail premises or a whole business we can find you the right solicitor. As for the costs these will vary based on the structure and complexity of the deal. Let us have your details or telephone us so that we may furnish you with a detailed commercial conveyancing calculation.
Should I instruct a Northampton conveyancing solicitor in close proximity to the house I am buying? We have a good friend who can handle the legal work but they are based over three hundred miles drive away.
The primary upside of using a local Northampton conveyancing practice is that you can attend the office to execute documents, deliver your ID and pester them where appropriate. Having local Northampton know how is a plus. That being said nothing is more important than finding someone that will pull out all the stops for you. If you know people who used your friend and they were impressed that should trump using an unfamiliar Northampton conveyancing solicitor just because they are local.
I am looking at a couple of apartments in Northampton both have in the region of fifty years unexpired on the lease term. Should I regard a short lease as a deal breaker?
There are plenty of short leases in Northampton. The lease is a right to use the property for a period of time. As a lease shortens the marketability of the lease reduces and it becomes more costly to acquire a lease extension. This is why it is often a good idea to extend the lease term. Sometimes it is difficulties arise selling premises with a short lease as mortgage lenders less inclined to grant a loan on properties of this type. Lease enfranchisement can be a protracted process. We advise that you get professional assistance from a solicitor and surveyor with experience in this area.
Leasehold Conveyancing in Northampton - Examples of Questions you should consider Prior to buying
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Plenty Northampton leasehold properties will have a service charge for maintenance of the block levied on behalf of the management company. If you purchase the property you will have to pay this contribution, normally quarterly throughout the year. This can vary from a few hundred pounds to thousands of pounds for blocks with lifts and large common grounds. There will also be a rentcharge for you to pay yearly, this is usually not a exorbitant sum, say around £50-£100 but you should to check it because sometimes it could be surprisingly expensive. Be sure to investigate if the the lease contains any unreasonable restrictions in the lease. For example it is reasonably common in Northampton leases that pets are not permitted in in a block in Northampton. If you love the apartmentin Northampton yet your cat can’t move with you then you will be faced hard compromise. Its a good idea to discover as much as possible concerning the company managing the building as they will affect your use and enjoyment of the property. As the proprietor of a leasehold property you will be in the clutches of the managing agents from a financial perspective and when it comes to day to day issues like the upkeep of the common parts. Enquire of other tenants if they are happy with their management. In conclusion, investigate as to the dates that you are obliged pay the service charge to the appropriate party and precisely what you get for your money.
Should I cancel my mortgage payments with Co-operative as soon as a completion date for my sale in Northampton has been set?
No, you should continue meeting any mortgage sums to Co-operative pending the mortgage being discharged on completion as part of your Northampton conveyancing.