I have just been advised by my IFA that my Ripley property lawyer is not on the bank Solicitor panel. What can I do to be sure that this is correct?
The first thing you need to do is to call your Ripley lawyer directly. You lawyer should notify you of the situation. If they are not on the panel they could put your in touch with solicitors on the conveyancing panel for your lender.
We were going to get a OIP from Leeds Building Society this week so we can work out what to offer on a property we like as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc). Do Leeds Building Society recommend any Ripley solicitors on the Leeds Building Society conveyancing panel, or is it better to go independently?
You will need to appoint Ripley solicitors independently although you'll need to choose one on the Leeds Building Society conveyancing panel. The solicitor represents both you and Leeds Building Society through the process.
I've digested plenty of mortgage guides, I note that it is considered advisable to get your house surveyed prior to buying it. When I asked my local Ripley solicitor - who is on the Santander conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. is that correct?
Santander will need an independent valuation of the property. Your lawyer will not arrange this. Usually Santander will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. You may wish to consider appointing your own Ripley surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
RBS have agreed my home loan in principle, my offer on a property in Ripley has been accepted, now what?
The estate agent will wish to know who your solicitors are (ensure that the solicitors are on the bank’s approved list). Call up RBS or your financial adviser and finish off any outstanding paperwork. RBS will appoint a valuer who will get in contact with the estate agent or vendor to book an appointment. Once carried out (assuming no problems) it takes approximately a fortnight to receive the mortgage offer. RBS will issue the offer to you and your conveyancers. The transaction will then take it’s course according the nature and complexity of the conveyancing in Ripley.
The deeds to my home can not be found. The conveyancers who did the conveyancing in Ripley 10 years ago are no longer around. Will I be able to sell the house?
As long as you have a registered title the information relating to your ownership will be evidenced by HMLR with a Title Number. It is easy to carry out a search at the Land Registry, locate your house and secure current copies of the Registered Entries for less than a fiver. If the property is Leasehold then the Land Registry will also normally retain a certified copy of the Registered Lease and again, a copy can be ordered for a small fee.
Over the last few months I have been searching for a leasehold apartment up to £305k and found one round the corner in Ripley I like with open areas and transport links in the vicinity, however it only has 51 years unexpired on the lease. There is not much else in Ripley suitable, so just wondered if I would be making a grave error buying a lease with such few years left?
Should you need a mortgage that many years will likely be an issue. Discount the price by the expected lease extension will cost if not already taken into account. If the existing proprietor has owned the property for a minimum of twenty four months you may ask them to start the process of the extension and then assign it to you. An additional ninety years can be extended on to the current lease term and have £0 ground rent by law. You should consult your conveyancing solicitor about this matter.
My company is wishing to take an assignment of a lease of a shop on a shopping parade. Can you recommend solicitors offering fixed charges for commercial conveyancing in Ripley for under 2k?
We can recommend firms who have an in-depth of experience of commercial conveyancing in Ripley, including the disposal and purchase of businesses as well as simply property. If you are hoping to buy or lease a shop, pub, restaurant, office, retail unit or a complete business we can find you the right lawyer. As for the fees these will vary based on the structure and nuances of the deal. Let us have your contact information or email so as to enable us to supply you with comprehensive commercial conveyancing calculation.
Can you offer any advice when it comes to choosing a Ripley conveyancing firm to deal with our lease extension?
If you are instructing a property lawyer for your lease extension (regardless if they are a Ripley conveyancing practice) it is essential that he or she should be familiar with the legislation and specialises in this area of work. We recommend that you make enquires with several firms including non Ripley conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. The following questions might be helpful:
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How familiar is the practice with lease extension legislation? Can they put you in touch with clients in Ripley who can give a testimonial?
I purchased a studio flat in Ripley, conveyancing formalities finalised 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? Comparable flats in Ripley with over 90 years remaining are worth £222,000. The average or mid-range amount of ground rent is £50 per annum. The lease comes to an end on 21st October 2095
You have 70 years left to run the likely cost is going to range between £9,500 and £11,000 plus legals.
The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs without more detailed investigations. You should 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 want to be as accurate as possible in your negotiations. Neither should you move forward based on this information before getting professional advice.