Souldretaining a St Annes Park conveyancing practitioner make the ownership transfer easier?
In the main conveyancing solicitors in your neck of the woods will benefit from strong alliances with your local authority, which could help with the St Annes Park conveyancing searches that your solicitor will need to carry out. It also helps if they enjoy good relationships with the Local Land Registry Office your area St Annes Park, other lawyers in the area and St Annes Park Estate Agents.
It is a dozen years since I purchased my home in St Annes Park. Conveyancing lawyers have recently been appointed on the sale but I can't track down my deeds. Will this cause complications?
You need not be too concerned. Firstly the deeds may be kept by the lender or they may be in the possession of the solicitor who oversaw the purchase. Secondly the chances are that the land will be recorded at the land registry and you will be able to prove you are the registered owner by your conveyancing lawyers procuring up to date copy of the land registers. Nearly all conveyancing in St Annes Park relates to registered property but in the rare situation where your property is not registered it is more tricky but is resolvable.
Forgive me if this question is silly but I am unexperienced as FTB of a garden flat in St Annes Park. Do I collect the keys to the property on the completion date from my solicitor? If this is the case, I will instruct a High Street conveyancing solicitor in St Annes Park?
There is no need to visit the lawyers office on the day of completion. Your solicitors will electronically transfer the completion advance to the owner’s lawyers, and once they have received this, you should be called to receive the keys from the selling Agents and start moving into the property. This tends to happen between 1 and 3pm.
My wife and I purchasing a end of terrace house in St Annes Park. We would like to carry out a loft conversion at the house.Will the conveyancing process include checks to ascertain if these works are permitted?
Your solicitor will check the registered title as conveyancing in St Annes Park can occasionally reveal restrictions in the title documents which restrict categories of alterations or require the permission of a 3rd party. Many works call for local authority planning permissions and approval in compliance with building regulations. Some areas are designated conservation areas and special planning restrictions apply which often prevent or affect extensions. It would be wise to check these issues with a surveyor ahead of any purchase.
When it comes to mortgage companies such as UBS, do St Annes Park conveyancing practitioners have to pay a yearly amount to be on the list of approved solicitors?
We are not aware of any bank fees to register on their list of approved firms, although some do levy an administration fee to deal with the processing of the conveyancing panel submission.
Various web forums that I have visited warn that are the primary reason for hinderance in St Annes Park house deals. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) released findings of a review by MoveWithUs that conveyancing searches do not feature amongst the common causes of hindrances in the conveyancing process. Searches are not likely to feature in any slowing down conveyancing in St Annes Park.
I'm refinancing my current home to a BTL mortgage with Accord Mortgages Ltd and intend to use the remaining equity as a down payment on another property. The neighborhood we are looking at is St Annes Park. Will your solicitors be able to act for both sets of mortgage companies and tie in the conveyances?
Do use our search tool on this site to ensure that the solicitors are approved by both lenders. Having checked that they are your conveyancer will be able to simultaneously deal with the two deals but you should have a chat with you conveyancer and make clear your expectations and requirements.
I am attracted to a two flats in St Annes Park both have about fifty years unexpired on the leases. Should I regard a short lease as a deal breaker?
There are no two ways about it. A leasehold apartment in St Annes Park is a wasting asset as a result of the shortening lease. The nearer the lease gets to its expiry date, the more it adversely affects the value of the premises. For most buyers and banks, leases with less than 75 years become less and less marketable. On a more upbeat note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of a property with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with St Annes Park conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending the lease. They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that the agreed terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.
I purchased a 1 bedroom flat in St Annes Park, conveyancing having been completed half a dozen years ago. Can you let me have an estimated range of the fair premium for a lease extension? Similar flats in St Annes Park with an extended lease are worth £206,000. The ground rent is £45 invoiced every year. The lease comes to an end on 21st October 2092
With just 66 years left to run the likely cost is going to span between £11,400 and £13,200 as well as costs.
The suggested premium range above a general guide to costs for extending a lease, but we cannot give you the actual costs without more detailed due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Please do not take any other action based on this information without first getting professional advice.