Do the conveyancing practitioners that are recommend carry out auction conveyancing in Sea Mills?
There are a number of niche solicitors we can connect you with those specialising in auction conveyancing. Sea Mills is one of our areas of where our lawyers have a presence.
I am close to exchanging contracts on the sale of our property in Sea Mills and the buyers lawyers are claiming that there is a possibility that the property was constructed on contaminated land. Any local lawyer would know that there is no such problem. For the life of me I don't know why the buyers instructed a web based conveyancing outfit as opposed to a conveyancing solicitor in Sea Mills. Having lived in Sea Mills for six years we know that this is a non issue. Is it a good idea to get in touch with our local Authority to seek confirmation that there is no issue.
It sounds as though you may have a conveyancing lawyer currently acting for you. What do they say? You should enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out life insurance to cover that same sickness)
It has been three months since my purchase conveyancing in Sea Mills took place. I have checked the Land Registry site which shows that I paid £175,000 when infact I paid £160,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the premises from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
Due to the guidance of my in-laws I had a survey completed on a house in Sea Mills in advance of instructing lawyers. I have been told that there is a flying freehold overhang to the property. Our surveyor advised that some banks tend refuse to give a loan on this type of premises.
It depends who your proposed lender is. Santander has different requirements from Nationwide. Should you wish to telephone us we can look into this further with 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 Sea Mills. Conveyancing may be slightly more expensive based on your lender's requirements.
I'm converting the mortgage on my primary home to a buy to let mortgage with Skipton Building Society and intend to use the remaining equity as a down payment on a second house. The area we are talking about is Sea Mills. Will your conveyancers be able to act for the two mortgage companies and tie in the transactions?
Make use of our search tool on this site to be sure that the lawyers are approved by both lenders. On the basis that they are your conveyancer should be able to tie up the two deals but you should talk with you lawyer and communicate your desired outcome and requirements.
I am tempted by the attractive purchase price for a two flats in Sea Mills both have approximately 50 years unexpired on the lease term. should I be concerned?
There are no two ways about it. A leasehold apartment in Sea Mills is a wasting asset as a result of the shortening lease. The nearer the lease gets to its expiry date, the more it adversely affects the value of the premises. The majority of buyers and lenders, leases with less than 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 premises 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 Sea Mills conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending the lease. They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. 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 purchased a 2 bed flat in Sea Mills, conveyancing was carried out November 1996. Can you shed any light on how much the price could be for a 90 year extension to my lease? Corresponding flats in Sea Mills with an extended lease are worth £176,000. The average or mid-range amount of ground rent is £50 invoiced every year. The lease comes to an end on 21st October 2105
With 80 years remaining on your lease we estimate the price of your lease extension to range between £8,600 and £9,800 as well as legals.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to provide a more accurate figure in the absence of comprehensive investigations. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information before getting professional advice.