My wife and I are due to exchange on the purchase of a house in Ravenglass but as a result of wreckage from a small fire at the property I have managed to agree recompense from the seller of £2k taking the form of a reduction in the price. This was going to be dealt with as part of amending the contract however UBS are not allowing this. Should they have been notified?
The conveyancing practitioner being on a UBS approved list is required to advise UBS of any amendments to the sale price. If you were to refuse your solicitor to report the price change to UBS then they would have to discontinue acting for you. In addition, UBS and you would have to appoint a new conveyancing practitioner for your conveyancing in Ravenglass.
Do I need to pay for insurance to cover chancel repairs when buying a house in Ravenglass?
Unless a previous purchase of the property took place post 12 October 2013 you can expect solicitors conducting conveyancing in Ravenglass to remain encouraging a chancel search and or insurance against a claim.
My wife and I own a terraced Victorian house in Ravenglass. Conveyancing solicitor acted for me and Halifax. I happened to do a free search for it on the Land Registry database and there are a couple of entries: one for freehold, another for leasehold with the matching address. I thought I was buying a freehold how can I check?
You need to read the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Ravenglass and other locations in the country and poses no real issues for owners other than when they remortgage they have to account for both freehold and leasehold interests when dealing with lenders. You can also check the situation with your conveyancing solicitor who conducted the purchase.
I have been on the look out for a ground for flat up to £195,000 and identified one near me in Ravenglass I like with open areas and railway links in the vicinity, the downside is that it's only got 51 years unexpired on the lease. I can't really find anything else in Ravenglass in this price bracket, so just wondered if I would be making a grave error buying a short lease?
Should you require a mortgage the shortness of the lease may be an issue. Discount the offer by the expected lease extension will cost if it has not already been discounted. If the existing owner has owned the premises for a minimum of twenty four months you could request that they start the process of the extension and pass it to you. An additional ninety years can be extended on to the current lease and have £0 ground rent by law. You should speak to your conveyancing lawyer concerning this.
Can you offer any advice when it comes to appointing a Ravenglass conveyancing firm to carry out our lease extension conveyancing?
When appointing a solicitor for lease extension works (regardless if they are a Ravenglass conveyancing practice) it is imperative that they be familiar with the legislation and specialises in this area of conveyancing. We recommend that you make enquires with two or three firms including non Ravenglass conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. The following questions could be useful:
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If they are not ALEP accredited then what is the reason?
I am the registered owner of a leasehold flat in Ravenglass, conveyancing formalities finalised January 2002. How much will my lease extension cost? Similar flats in Ravenglass with an extended lease are worth £227,000. The average or mid-range amount of ground rent is £50 charged once a year. The lease ends on 21st October 2096
With just 71 years left to run we estimate the price of your lease extension to be between £9,500 and £11,000 as well as professional fees.
The figure above a general guide to costs for renewing a lease, but we are not able to supply the actual costs in the absence of detailed due diligence. Do not use the figures in tribunal or court proceedings. There are no doubt other concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information before getting professional advice.
Can you set out the aspects of conveyancing conducted by Ravenglass conveyancing organisations?
The majority of Ravenglass conveyancing firms can conduct a number of services to home and land owners, vendors, first time buyers, freeholders and tenants such as:
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Home sale conveyancing in Ravenglass and throughout the rest of the country
Domestic purchase conveyancing in Ravenglass and countrywide
Leasehold conveyancing selling and buying Buying and selling at auction Staircasing i.e. buying extra shares of a property that has been purchased through a shared ownership scheme Shared equity purchase (part buying and part renting)