My wife and I are planning to buy a house in St Anns and are in fact using a St Anns conveyancing firm. Within the past 48 hours our conveyancer has sent a preliminary report and documents to look through with a view to exchanging next week. Virgin Money have this morning contacted us to inform me that there is now an issue as our St Anns lawyer is not on their conveyancing panel. Is this a problem?
Where you are buying a property requiring a mortgage it is standard for the purchasers' solicitors to also represent the mortgage company. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Quality Scheme. Your solicitor should contact your bank and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You don't have to instruct a firm on the lender’s conveyancing panel and you may continue to use your own St Anns solicitors, in which case it will likely add costs, and it will likely delay the transaction as you have another set of people involved.
Do commercial conveyancing searches reveal impending roadworks that may impact a commercial site in St Anns?
Its becoming the norm that commercial conveyancing solicitors in St Anns will order a SiteSolutions Highways report as it dramatically cuts the time that conveyancers expend in looking into accurate data on highways that impact buildings and development assets in St Anns. The search result sets out definitive information on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in St Anns.
For every commercial conveyancing transaction in St Anns it is critical to investigate the adoption status of roads surrounding a site. Failure to identify developments where adoption procedures have not been addressed adequately can result in delays to St Anns commercial conveyancing transactions as well as present a risk to future intentions for the site. These searches are not ordered for domestic conveyancing in St Anns.
Just had an offer accepted on a new build flat in St Anns. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.
Here are examples of a few leasehold new build questions that you can expect your new-build leasehold conveyancing in St Anns
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Forfeiture - bankruptcy or liquidation must not apply under this provision. There must be mutual enforceability of lessee’s covenants. The Vendor must covenant to keep unoccupied units in good repair until long leases are granted therefore. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company?
I decided to have a survey carried out on a house in St Anns in advance of retaining conveyancers. I have been informed that there is a flying freehold aspect to the property. Our surveyor has said that some banks tend not issue a mortgage on a flying freehold premises.
It varies from the lender to lender. Lloyds has different requirements from Birmingham Midshires. If you e-mail us we can investigate further via the relevant mortgage company. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in St Anns. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in St Anns to see if the conveyancing costs will increase in light of this.
What is different about your site and alternative web based conveyancing brokers for conveyancing in St Anns?
At this site get a conveyancing quote via a Solicitor or Licensed Conveyancer that appreciates the issues for your conveyancing in St Anns. As opposed to estate agents and many comparison sites we do not charge firms a commission if you appoint them for your property ownership legalities in St Anns
My wife and I may need to rent out our St Anns ground floor flat temporarily due to taking a sabbatical. We used a St Anns conveyancing practice in 2004 but they have since shut and we did not have the foresight to get any guidance as to whether the lease allows us to sublet. How do we find out?
Even though your last St Anns conveyancing solicitor is no longer around you can check your lease to check if it allows you to sublet the apartment. The accepted inference is that if the lease is silent, subletting is allowed. There may be a precondition that you are obliged to seek consent via your landlord or some other party before subletting. The net result is you not allowed to sublet without prior permission. The consent must not not be unreasonably turned down. If the lease prohibits you from subletting the property you should ask your landlord if they are willing to waive this restriction.
I purchased a 1st floor flat in St Anns, conveyancing was carried out in 2003. Can you work out an approximate cost of a lease extension? Comparable flats in St Anns with a long lease are worth £185,000. The ground rent is £65 levied per year. The lease ends on 21st October 2085
With only 60 years remaining on your lease we estimate the price of your lease extension to span between £20,000 and £23,000 as well as legals.
The figure that we have given is a general guide to costs for renewing a lease, but we are not able to advice on a more accurate figure without more detailed investigations. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. You should not move forward placing reliance on this information before seeking the advice of a professional.