We note that you have a search directory listing solicitors on the Aldermore conveyancing panel. Do companies pay you a referral fee if I retain them for our conveyancing in Richmond?
We are a listing service only for law firms wishing to communicate if they are on the Aldermore conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Richmond.
We're in Richmond, First time buyers buying with a mortgage (lender is Coventry BS , and our lawyer is on the Coventry BS conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Coventry BS conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no conveyancing practitioner should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
I am buying a new build flat in Richmond. Conveyancing is necessary evil 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 legal work.
Here are examples of a few leasehold new build questions that you should expect your new-build leasehold conveyancing in Richmond
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Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. Please supply evidence that the form of Lease proposed has been approved by the Land Registry. There must be mutual enforceability of lessee’s covenants. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? Please confirm the Lease plans are architect prepared.
In my capacity as executor for the will of my father I am disposing of a house in Monmouth but reside in Richmond. My lawyer (who is 260 miles from mehas requested that I sign a stat dec ahead of completion. Could you suggest a conveyancing practitioner in Richmond to attest this legal document for me?
strictly speaking you are unlikely to need to have the documents witnessed by a conveyancing solicitor. Ordinarily any notary public or qualified solicitor will be fine regardless of whether they are Richmond based
I am looking at a couple of flats in Richmond which have in the region of 50 years left on the leases. should I be concerned?
There is no doubt about it. A leasehold apartment in Richmond is a deteriorating asset as a result of the shortening lease. The nearer the lease gets to zero years unexpired, the more it reduces the marketability of the property. For most purchasers and mortgage companies, leases with under eighty years become less and less attractive. On a more upbeat note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of a property with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Richmond conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease. You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that the agreed terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.
I bought a 1 bedroom flat in Richmond, conveyancing was carried out December 1999. Can you please calculate a probable premium for a statutory lease extension? Corresponding properties in Richmond with an extended lease are worth £190,000. The average or mid-range amount of ground rent is £65 levied per year. The lease ceases on 21st October 2087
You have 61 years unexpired we estimate the price of your lease extension to span between £19,000 and £22,000 plus legals.
The figure above a general guide to costs for renewing a lease, but we cannot give you the actual costs in the absence of comprehensive investigations. Do 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 you obviously should be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information before seeking the advice of a professional.
Me and my fiance are about to complete buying a house in Richmond but as a consequence of damage from the recent storms I have negotiated reparation from the vendor of five thousand pounds in the form of a reduction in the price. This was going to be addressed as part of the conveyancing process however the lender will not agree to this. Why were they approached?
Your lawyer listed on the bank conveyancing panel is required to inform the bank of any changes to the purchase price. If you did not allow your property lawyer to notify the price change to your mortgage company then they would need to refrain from acting for you and the lender.