We are acquiring a new build duplex in Shenstone and my lawyer is telling me that she is duty bound to the bank to reveal incentives from the seller. The Estate Agents are hassling me to exchange contracts and I have no desire to prolong the conveyancing. Is my lawyer right?
You should not exchange unless you have been advised to do so by your conveyancing practitioner. A precondition to being on a bank panel is to comply with the UK Finance Lenders’ Handbook conditions. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
At what point does exchange of contracts occur in domestic conveyancing in Shenstone and do I need to attend the conveyancers office?
Where you are in close proximity to our conveyancing solicitors in Shenstone you are welcome to attend to sign contracts. However, the firms we work with provide countrywide coverage for conveyancing and give just as detailed and professional a job for you when dealing with you digitally. The executing of the property agreement is not when everything is set in stone. A signed contract simply enables the solicitor to officially exchange when the time is right, which will usually be very shortly after signing. The exchange process is nowadays normally dealt with by telephone and can be very rapid, although where a lengthy "chain" is in play, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Shenstone)to be in the office at the appropriate time.
I am assisting my mother sell her flat in Shenstone. Does the conveyancer order an energy performance certificate or it is for the owner to coordinate?
Following the abolition of Home Packs, energy assessments became a compulsory component of selling a house. An energy assessment should be to hand in advance of the property being advertised. It is not something that solicitors ordinarily organise. If you are instructing a Shenstone conveyancing solicitor they might be willing to arrange energy performance certificates due to their relationships with long established local assessors
I happen to be the single beneficiary of my late mum's estate and I have everything in my name now, including the house in Shenstone. Conveyancing formalities meant that the Land Registry date was in July. I want to move. I do know about the CML six month 'rule', which means that my proprietorship will be considered the same way as if I'd bought the house in July. Do I have to wait 6 months to sell?
The Council of Mortgage Lenders’ handbook instructs solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you could be caught by that. How sensible a view mortgage companies take of it, depend on the lender as this provision is primarily there to pick up on the purchase and immediately sell or the wholesaling and assigning of properties.
We expect to receive a OIP from Nottingham this week so we can work out what to offer on a property we like as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc). Do Nottingham recommend any Shenstone solicitors on the Nottingham conveyancing panel, or is it better to find our own lawyer?
You will need to appoint Shenstone solicitors independently although you'll need to choose one on the Nottingham conveyancing panel. The solicitor represents both you and Nottingham through the process.
Just bought a terraced house in Shenstone , What is the estimated time for the Land Registry to register my ownership? My Shenstone conveyancing solicitor works at snail pace, so I want to check the registration is addressed.
There is nothing unique about conveyancing in Shenstone registration formalities. As opposed to being determined by geographic area, timeframes can differ according to the party submitting the application, whether it is in order and if the Land registry must send notices to any third parties. At present roughly 80% of submission are fully addressed in less than three weeks but some can be subject to longer delays. Registration occurs once the buyer has moved in to the premises thus registration formalities is not usually an essential issue but if it is urgent that the the registration takes place urgently then you or your solicitor can contact the land registry and explain the circumstances.
Harry (my fiance) and I may need to let out our Shenstone 1st floor flat temporarily due to a career opportunity. We used a Shenstone conveyancing firm in 2003 but they have since shut and we did not think at the time seek any advice as to whether the lease permits subletting. How do we find out?
Even though your last Shenstone conveyancing lawyer is not around you can review your lease to check if it allows you to sublet the premises. The accepted inference is that if the deeds are silent, subletting is permitted. Quite often there is a prerequisite that you are obliged to obtain consent via your landlord or some other party in advance of subletting. The net result is that you cannot sublet without prior permission. Such consent is not allowed to be unreasonably withheld. If your lease does not allow you to sublet you should ask your landlord for their consent.
I invested in buying a ground floor flat in Shenstone, conveyancing was carried out 3 years ago. Can you let me have an estimated range of the fair premium for a lease extension? Comparable properties in Shenstone with over 90 years remaining are worth £186,000. The average or mid-range amount of ground rent is £55 yearly. The lease runs out on 21st October 2078
You have 53 years remaining on your lease we estimate the premium for your lease extension to be between £27,600 and £31,800 plus plus your own and the landlord's "reasonable" professional fees.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs without more comprehensive due diligence. Do not use this information in a Notice of Claim or as an informal offer. There may be other concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information before seeking the advice of a professional.
As a leasehold owner I am liable for a maintenance fee for my ground floor flat in Shenstone. As a result of personal circumstances I slipped into arrears with payments. I negotiated a payment schedule but there is still a couple of remaining in arrears.
I want to sell and I am nervous that this may hold me back if I have to pay off the amount due now. I'd like to sell up and subsequently discharge the arrears from the completion monies - is this viable?
It would be wise to speak with the conveyancing practitioner undertaking your Shenstone conveyancing but it may be possible to arrange for the debt to be passed to the purchasers. The sale price payable would be adjusted to reflect the amount of debt they take on. They would then deal with the fees once they are the owners.