We are about to sign contracts for a leasehold flat in Shillington. We have hit a problem. Our loan offer with Barclays expires on 24/3/2025 but the sellers are putting forward a completion date of 26/3/2025. Is it possible to extend the loan expiry date?
The best person to address this concern is your solicitors who will hopefully assess if they better off negotiating with the mortgage company, seller’s conveyancers, selling agents or conceivably all three given what has happend in your transaction as of today.
The Shillington conveyancing solicitors that just started acting on my house acquisition in Shillington have suddenly shut down. I only went with them because I needed a lawyer on the Yorkshire BS conveyancing panel and my family Shillington lawyer was not. I paid them 275 plus VAT in advance. What should be my next steps?
If you have an estate agent involved then let them know immediately so that they advise the vendors that there may be a slight delay due to reasons beyond your control. Hopefully they will be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You should appoint new lawyers that are on the Yorkshire BS conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new lawyers should be in a position to assist.
My wife and I are purchasing a apartment in Shillington. It might be a silly question but how we can trust a conveyancer? On the day of competition we have to deposit money into their account. What is the protection we have from them run away with our deposit?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
We are aiming to move house in March. Does my conveyancing solicitor call the removal company on the day of completion. Incidentally, can you recommend a removal company in Shillington. Conveyancing solicitor was organised before I stumbled across this page.
On the day of completion you will need to pick up the house keys from the selling agent but this should only happen once the vendors lawyers inform the agent that the monies to complete are in and the keys can be released. After that you should inform the removal men that they can start moving you in. As a matter of policy we do not suggest a specific removal organisation but can help you locate a residential property solicitor in Shillington or a solicitor with expertise in conveyancing in Shillington.
I am being advised by my conveyancer that chancel insurance is needed on my purchase. What is the typical level of cover needed for conveyancing in Shillington?
The appropriate level of chancel indemnity insurance should be dictated by who who your lender is. It would differ for example between Halifax and Virgin Money. Conveyancing solicitors as opposed to borrowers take out such policies.
I purchased a 4 bedroom Georgian property in Shillington. Conveyancing practitioner represented me and Virgin Money. I did a free Land Registry search last week and I saw two entries: one for freehold, the second leasehold under the exact same property. Is it worth asking Virgin Money to clarify?
You need to assess the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Shillington and other locations in the country and poses no real issues for owners other than when they remortgage they have to account for both freehold and leasehold interests when dealing with buyers. You can also enquire as to the situation with the conveyancing solicitor who conducted the purchase.
How does conveyancing in Shillington differ for newly converted properties?
Most buyers of new build premises in Shillington come to us having been asked by the seller to exchange contracts and commit to the purchase even before the residence is finished. This is because house builders in Shillington usually purchase the real estate, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Shillington or who has acted in the same development.
I only have Sixty One years remaining on my lease in Shillington. I now want to get lease extension but my freeholder is absent. What should I do?
On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for for permission to dispense with the service of the initial notice. This will mean that your lease can be extended by the Court. You will be obliged to prove that you have made all reasonable attempts to find the freeholder. For most situations a specialist should be helpful to carry out a search and prepare a report to be accepted by the court as proof that the landlord can not be located. It is advisable to get professional help from a solicitor in relation to proving the landlord’s disappearance and the vesting order request to the County Court overseeing Shillington.
I invested in buying a garden flat in Shillington, conveyancing formalities finalised 3 years ago. How much will my lease extension cost? Similar properties in Shillington with an extended lease are worth £165,000. The average or mid-range amount of ground rent is £50 levied per year. The lease ends on 21st October 2102
With only 77 years remaining on your lease we estimate the premium for your lease extension to range between £7,600 and £8,800 as well as professional fees.
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 the actual costs in the absence of detailed investigations. You should not use the figures in tribunal or court proceedings. There are no doubt additional issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information before getting professional advice.