What is the first thing I need to know concerning purchase conveyancing in Shifnal?
Not many law firms shout this from the rooftops but conveyancing in Shifnal and elsewhere in England and Wales is often a confrontational process. In other words, when it comes to conveyancing there exists an abundance of opportunity for conflict between you and other parties involved in the legal transfer of property. For instance, the seller, selling agent and on occasion your lender. Appointing a solicitor for your conveyancing in Shifnal should not be taken lightly as your conveyancer is your adviser, and is the ONE party in the process whose responsibility is to look after your legal interests and to protect you.
Every so often a potential adversary will try and convince you that you should follow their advice. For instance, the property agent may claim to be helping by suggesting your solicitor is wrong. Or your mortgage broker may advise you to do something that is against your conveyancers advice. You should always trust your lawyer above all other parties in the conveyancing process.
The mortgage over my property is with Clydesdale for my property in Shifnal. Conveyancing has been completed 12 months ago. In the event that I decide to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Clydesdale?
You must advise Clydesdale before letting out your property as this is likely to be a breach of Clydesdale’s mortgage conditions. It may be that Clydesdale will permit you to let out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Clydesdale directly. It should not be necessary to do this via a Clydesdale conveyancing panel solicitor.
About to purchase house in Shifnal. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Kent Reliance conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Shifnal conveyancing practitioner is on the Kent Reliance conveyancing panel.
Santander have agreed my mortgage in principle, my bid on a apartment in Shifnal has been accepted, now what?
The property agent will wish to be advised as to your conveyancing practitioner's details (be sure the conveyancers are on the bank’s panel). Call up Santander or the financial adviser and finalise any outstanding documentation. Santander will appoint a valuer who will get in contact with the estate agent or owners to schedule an appointment. Once carried out (assuming no problems) it takes on average ten days to receive the mortgage offer. Santander will send the offer to you and your conveyancing practitioners. The transaction will then take it’s course according the nature and complexity of the conveyancing in Shifnal.
Over the last few months I have been searching for a flat up to £195,000 and found one close by in Shifnal I like with amenity areas and railway links in the vicinity, the downside is that it only has 49 remaining years left on the lease. There is not much else in Shifnal in this price bracket, so just wondered if I would be making a mistake purchasing a short lease?
If you require a mortgage the shortness of the lease will likely be an issue. Discount the offer by the amount the lease extension will cost if not already taken into account. If the current owner has owned the premises for at least 2 years you may ask them to start the process of the extension and pass it to you. You can add 90 years to the existing lease and have £0 ground rent by law. You should consult your conveyancing solicitor about this matter.
In my capacity as executor for the will of my aunt I am disposing of a property in Swansea but I am based in Shifnal. My solicitor (approximately 250 miles awayrequires that I sign a statutory declaration ahead of completion. Could you suggest a conveyancing lawyer in Shifnal to witness this legal document for me?
strictly speaking you are unlikely to be required to have the documents attested by a conveyancing solicitor. Normally or notary public or solicitor will be fine regardless of whether they are Shifnal based
I am attracted to a two maisonettes in Shifnal both have in the region of 50 years unexpired on the leases. Will this present a problem?
There are plenty of short leases in Shifnal. The lease is a legal document that entitles you to use the premises for a period of time. As the lease shortens the marketability of the lease decreases and results in it becoming more costly to extend the lease. This is why it is generally wise to extend the lease term. Sometimes it is difficulties arise selling premises with a short lease as mortgage lenders may be unwilling to lend money on properties of this type. Lease enfranchisement can be a protracted process. We advise that you get professional help from a conveyancer and surveyor with experience in this arena.
I inherited a basement flat in Shifnal, conveyancing was carried out 9 years ago. Can you let me have an estimated range of the fair premium for a lease extension? Comparable flats in Shifnal with over 90 years remaining are worth £201,000. The average or mid-range amount of ground rent is £45 levied per year. The lease expires on 21st October 2089
With only 65 years left to run the likely cost is going to span between £13,300 and £15,400 plus plus your own and the landlord's "reasonable" professional fees.
The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more detailed investigations. You should not use the figures in tribunal or court proceedings. There may be other 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 based on this information before seeking the advice of a professional.
Me and my partner are purchasing a 2 room maisonettein Shifnal with a mortgage from a lender. We like our conveyancer in Shifnal but our lender inform us now that he's not listed on their "panel". We have to appoint from the our lender panel firms or keep our Shifnal solicitor and incur the extra legals for one of their panel ones to represent them. We feel as though this is unjust; Can we not simply insist that our bank use our Shifnal lawyer?
No, not really. The lender mortgage offered to you is subject to its terms and conditions, one of which will be that solicitors will on the bank's conveyancing panel. Until recently, most mortgage companies had open panels, including most conveyancing solicitors in Shifnal : a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your solicitors to apply to be on the conveyancing panel for your bank.