It is 10 years ago since I acquired my property in Shropshire. Conveyancing lawyers have recently been retained on the sale but I can't locate the title documents. Will this jeopardise the sale?
You need not be too concerned. Firstly the deeds may be with your mortgage company or they could be in the possession of the conveyancers who oversaw your purchase. Secondly the likelihood is that the land will be recorded at the land registry and you will be able to prove you own the property by your conveyancing lawyers acquiring current official copies of the land registers. Most conveyancing in Shropshire relates to registered property but in the rare situation where your home is not registered it is more problematic but is not insurmountable.
I have a decision in principle. The bank mentioned the loan came with free conveyancing. Is the implication that I have to use their panel solicitor as I would prefer to instruct a specialised conveyancing solicitor in Shropshire?
Do check but the the likelihood is that give you one of their panel lawyers where you take up the "fee-free" deal. Contact the bank to ask if they allow a cash alternative. In the past a few lenders offered a £250 cashback as an alternative in which case that money can go towards the cost for your conveyancing solicitor near Shropshire.
I require expedited conveyancing in Shropshire as I am faced with an ultimatum to sign on the dotted line inside one month. A mortgage is not required. Is it possible to avoid the conveyancing searches to save fees and time?
If.Given you are not getting a mortgage you have the choice not to have searches carried out although no law firm would suggest that you don't. With plenty of history conveyancing in Shropshire the following are examples of issues that can crop up and therefore impact future mortgageability: Refused Planning Applications, Outstanding Charges, Overdue Grants, Road Schemes,...
four months have gone by following my purchase conveyancing in Shropshire took place. I have checked the Land Registry site which shows that I paid £150,000 when infact I paid £170,000. 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.
How does conveyancing in Shropshire differ for new build properties?
Most buyers of new build residence in Shropshire contact us having been asked by the developer to exchange contracts and commit to the purchase even before the property is ready to move into. This is because house builders in Shropshire tend to 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 accustomed to new build conveyancing in Shropshire or who has acted in the same development.
I've found a house that appears to be perfect, at a great figure which is making it all the more appealing. I have since been informed that the title is leasehold as opposed to freehold. I am assuming that there are issues purchasing a leasehold house in Shropshire. Conveyancing solicitors have not yet been instructed. Will my lawyers set out the risks of buying a leasehold house in Shropshire ?
The majority of houses in Shropshire are freehold rather than leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area who can assist with the conveyancing process. It is clear that you are buying in Shropshire in which case you should be looking for a Shropshire conveyancing solicitor and check that they have experience in transacting on leasehold houses. First you will need to check the unexpired lease term. As a leaseholder you will not be at liberty to do whatever you want to the property. The lease comes with conditions for example obtaining the landlord’spermission to carry out changes to the property. You may also be required to pay a maintenance charge towards the maintenance of the estate where the house is part of an estate. Your conveyancer will report to you on the legal implications.
I inherited a 1st floor flat in Shropshire, conveyancing formalities finalised June 1997. Can you give me give me an indication of the likely cost of a lease extension? Similar properties in Shropshire with a long lease are worth £201,000. The average or mid-range amount of ground rent is £45 charged once a year. The lease finishes on 21st October 2089
You have 64 years unexpired we estimate the premium for your lease extension to be between £14,300 and £16,400 plus 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 advice on the actual costs in the absence of detailed due diligence. You should not use the figures in tribunal or court proceedings. There are no doubt additional issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. You should not move forward placing reliance on this information before getting professional advice.