My Sidmouth conveyancer has discovered a discrepancy when comparing the information in the home valuation survey and what is in the legal papers for the property. My lawyer says that he needs to ensure that the lender is OK with this discrepancy and is content to go ahead. Is my conveyancer’s course or action appropriate?
Your conveyancer must comply with the UK Finance Lenders’ Handbook conditions which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.
My wife and I have recently appointed a conveyancing solicitor in Sidmouth. I I am struggling to find out if they are accepted on the Bank of Ireland approved list of lawyers. Could you help?
The first thing you should do is call the conveyancer and ask them whether they can act for the lender. Alternatively you should call Bank of Ireland who may be able to assist.
Due to the encouragement of my in-laws I had a survey completed on a property in Sidmouth before instructing conveyancers. I have been advised that there is a flying freehold element to the property. Our surveyor advised that some banks tend not issue a mortgage on this type of premises.
It depends who your proposed lender is. Santander has different requirements for example to Halifax. If you contact us we can check via the relevant mortgage company. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Sidmouth. Conveyancing may be slightly more expensive based on your lender's requirements.
I am thinking of appointing a conveyancing practitioner in Sidmouth for my home move. Is there any facility to check a firm’s record with the legal regulator?
One may read published Solicitor Regulator Association (SRA) decisions stemming from inquisitions started on or after Jan 2008. Visit Check a solicitor's record. For details Pre 2008, or to check a solicitors record, ring 0870 606 2555, 08.00 - 18.00 Monday, Wednesday, Thursday, Friday and 09.30 - 18.00 Tuesday. For callers outside the UK, call +44 (0)121 329 6800. The regulator sometimes recorded telephone calls for training requirements.
I only have 68 years remaining on my flat in Sidmouth. I need to get lease extension but my freeholder is absent. What should I do?
If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for an order to dispense with the service of the initial notice. This will mean that your lease can be granted an extra 90 years by the magistrate. However, you will be required to prove that you or your lawyers have used your best endeavours to find the freeholder. For most situations a specialist should be helpful to conduct investigations and prepare a report to be accepted by the court as proof that the freeholder can not be located. It is wise to seek advice from a solicitor both on investigating the landlord’s absence and the vesting order request to the County Court overseeing Sidmouth.
I am the registered owner of a 1 bedroom flat in Sidmouth, conveyancing was carried out September 2003. How much will my lease extension cost? Equivalent flats in Sidmouth with an extended lease are worth £227,000. The average or mid-range amount of ground rent is £50 invoiced annually. The lease comes to an end on 21st October 2098
With only 72 years unexpired we estimate the price of your lease extension to be between £9,500 and £11,000 as well as 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 without more detailed investigations. You should not use this information in tribunal or court proceedings. There may be additional issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. Neither should you move forward based on this information before seeking the advice of a professional.
What is the average legal costs for conveyancing in Sidmouth?
The average fee in 2014 for conveyancing in Sidmouth was £1,395 not including Land Tax and HM Land Registry charges.