My husband and I are looking to buy a flat in Radstock and are in fact using a Radstock conveyancing firm. Within the past 48 hours our property lawyer has forwarded the sale agreement to be signed with a detailed report with a view to exchanging next week. Barnsley Building Society have this afternoon contacted us to advise us that they have now hit a problem as our Radstock lawyer is not on their approved list of lawyers. What do we do from here?
When purchasing a property with the benefit of a mortgage it is normal for the purchasers' lawyers to also act for the mortgage company. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Quality Scheme. Your solicitor should contact your lender and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You are not legally obliged to appoint a law firm on the lender’s conveyancing panel as you are at liberty to use your preferred Radstock lawyers, in which case your legal fees may increase, and it will likely delay the transaction as you have another set of people involved.
We see that you have a search directory listing solicitors on the UBS conveyancing panel. Do firms pay you a commission if I retain them for our own conveyancing in Radstock?
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 Radstock.
Despite weeks of looking the Title Certificate and documents to our home can not be found. The lawyers who conducted the conveyancing in Radstock 4 years ago have long since closed. Will I be able to sell the house?
You no longer need to have the physical original deeds to establish that you are the registered proprietor of land or property, as the Land Registry have everything they need in a digital format.
About to purchase a new build apartment in Radstock. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.
Set out below is a sample of a selection of leasehold new build questions that you may expect your new-build leasehold conveyancing in Radstock
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Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified. Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. The Vendor must covenant to keep unoccupied units in good repair until long leases are granted therefore. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company?
Due to the guidance of my in-laws I had a survey completed on a property in Radstock ahead of instructing lawyers. I have been informed that there is a flying freehold overhang to the property. The surveyor advised that some mortgage companies may refuse to issue a mortgage on this type of home.
It depends who your proposed lender is. Bank of Scotland has different requirements for example to Birmingham Midshires. Should you wish to call us we can look into this further via the appropriate mortgage company. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Radstock. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Radstock to see if the conveyancing will be more expensive.
We expect to complete the sale of our £225,000 garden flat in Radstock next week. The managing agents has quoted £372 for Landlord’s certificate, building insurance schedule and 3 years statements of service charge. Is it legal for a freeholder to charge exorbitant fees for a leasehold conveyance in Radstock?
Radstock conveyancing on leasehold maisonettes usually results in fees being levied by management companies :
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Addressing pre-contract questions
Where consent is required before sale in Radstock
Supplying insurance information
Deeds of covenant upon sale
Registering of the assignment of the change of lessee after a sale
I bought a leasehold flat in Radstock, conveyancing was carried out half a dozen years ago. Can you give me give me an indication of the likely cost of a lease extension? Comparable flats in Radstock with a long lease are worth £180,000. The average or mid-range amount of ground rent is £65 per annum. The lease terminates on 21st October 2084
With only 59 years unexpired we estimate the price of your lease extension to span between £20,900 and £24,200 plus professional fees.
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 without more detailed investigations. You should not use the figures in tribunal or court proceedings. There may be other concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information without first seeking the advice of a professional.