We're in Shaftesbury, First time buyers buying with a mortgage (lender is Nottingham , and our solicitor is on the Nottingham conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Nottingham 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 recently had an offer accepted on an apartment in Shaftesbury. My mortgage broker pressured me to appoint their solicitor. I paid an on account payment of £150. Shortly after, the conveyancer contacted me embarrassingly acknowledging that they were not on the Skipton conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Skipton panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
I am selling my flat. I had a double glazing fitted in January 2010, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s lender, Barclays are being a right pain. The Shaftesbury solicitor who is on the Barclays conveyancing panel is recommending indemnity insurance as a solution but Barclays are requiring a building regulation certificate. Why do Barclays have a conveyancing panel if they don't accept advice from them?
It is probably the case that Barclays have referred the matter to their valuer. The reason why Barclays may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
My sealed bid on a detached house in Shaftesbury has been agreed to, the owners do nevertheless have an associated purchase. The vendors have offered on a flat, but it’s not yet agreed to, and have viewings of other flats in the pipeline. I have selected a local conveyancing solicitor in Shaftesbury. What do I do now? At what stage do I apply for the mortgage with Virgin Money?
It is usual to have apprehensions where there is a chain as you are unlikely to want to incur expenses prematurely (mortgage application is in the region of £1k, then survey, Shaftesbury conveyancing search charges, etc). The first course of action is to ensure that your property lawyer is on the Virgin Money conveyancing panel. Concerning the subsequent stages this very much dictated by the specifics of your case, desire for the property and on the state of the market. In a hot market the majority of buyers will apply for the mortgage with Virgin Money and arrange for the valuation and only if it was satisfactory would they request their solicitor to proceed with the conveyancing in Shaftesbury.
Are there restrictive covenants that are commonly picked up as part of conveyancing in Shaftesbury?
Restrictive covenants can be picked up when reviewing land registry title as part of the legal transfer of property in Shaftesbury. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
What is different about your site and alternative internet conveyancing brokers when it comes to conveyancing in Shaftesbury?
At this site obtain a conveyancing costs illustration via a Solicitor or Licensed Conveyancer that understands the issues of your conveyancing in Shaftesbury. As opposed to estate agents and brokerage sites we do not operate commission deals with solicitors. Some agents and online brokers 'recommend' the firm who pay the most kickback, rather than the best value conveyancing in Shaftesbury
I am on look out for some leasehold conveyancing in Shaftesbury. Before I get started I would like to find out the remaining lease term.
Assuming the lease is registered - and most are in Shaftesbury - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
I own a 1st floor flat in Shaftesbury, conveyancing having been completed in 2004. Can you give me give me an indication of the likely cost of a lease extension? Similar flats in Shaftesbury with an extended lease are worth £191,000. The ground rent is £55 invoiced annually. The lease runs out on 21st October 2080
With just 54 years unexpired we estimate the price of your lease extension to be between £32,300 and £37,400 plus plus your own and the landlord's "reasonable" professional fees.
The figure above a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of comprehensive due diligence. Do not use this information in tribunal or court proceedings. There may be additional issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information without first seeking the advice of a professional.
Is there a reason that Shaftesbury conveyancing charges differ for leasehold and freehold properties?
Leasehold conveyancing in Shaftesbury can involve additional due diligence for instance checking the lease, communicating with the freeholder, obtaining up to date rent receipts, landlord’s consents, management company’s accounts etc.