Do I need to have a meeting at the offices of the solicitor to sign the legal charge? If so, I will appoint a lawyer who conducts conveyancing in St Ives so that I can pop in to their offices if required.
Whereas this was necessary 12 years ago, most lenders no longer need their conveyancing panel solicitor to witness the borrowers signature. You will still be obliged to hand over ID documents and there are still distinct advantages to instructing a locally based ayer, in your case a conveyancing solicitor in St Ives.
We are getting a further advance on our home loan from Barclays as we want to conduct renovations to our property in St Ives. Do we need to select a nearby St Ives solicitor on the Barclays conveyancing panel to deal with the paperwork?
Barclays do not ordinarily instruct a member of their approved list of lawyers to deal with such a matter. If they do require any legal work then you would need to ensure that such a lawyer was on the Barclays conveyancing panel.
I am currently in the process of buying my council flat in St Ives. I have a mortgage offer with HSBC. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with HSBC, you will need to appoint a solicitor on the HSBC conveyancing panel.
Intending to buy a house in St Ives. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the UBS conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the St Ives conveyancing practitioner is on the UBS conveyancing panel.
Are there restrictive covenants that are commonly identified as part of conveyancing in St Ives?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the legal transfer of property in St Ives. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
I am looking for a ground for flat up to £235,500 and identified one close by in St Ives I like with a park and transport links in the vicinity, however it's only got 52 years unexpired on the lease. I can't really find anything else in St Ives in this price bracket, so just wondered if I would be making a grave error buying a short lease?
If you require a mortgage that many years may be a potential deal breaker. Reduce the price by the expected lease extension will cost if it has not already been discounted. If the existing proprietor has owned the premises for a minimum of 2 years you could request that they start the process of the extension and then assign it to you. An additional ninety years can be extended on to the existing lease and have £0 ground rent by law. You should consult your conveyancing solicitor about this matter.
How can the Landlord & Tenant Act 1954 affect my business property in St Ives and how can you help?
The particular law that you refer to affords protection to commercial leaseholders, granting the right to make a request to court for a continuation of occupancy when the lease reaches an end. There are limited grounds where a landlord can refrain from granting a lease renewal and the rules are involved. Fees are different for commercial conveyancing. St Ives is one of our hundreds of areas of the UK in which the firms we work with have offices
Do you have any top tips for leasehold conveyancing in St Ives from the perspective of saving time on the sale process?
- A significant proportion of the frustration in leasehold conveyancing in St Ives can be bypassed where you get in touch lawyers the minute you market your property and ask them to collate the leasehold documentation needed by the buyers’ representatives. Many freeholders or managing agents in St Ives levy fees for supplying management packs for a leasehold premises. You or your lawyers should find out the fee that they propose to charge. The management pack sought on or before finding a buyer, thus reducing delays. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most common reason for frustration in leasehold conveyancing in St Ives. You may think that you are aware of the number of years remaining on your lease but it would be wise to verify this by asking your conveyancers. A purchaser's lawyer will not be happy to advise their client to proceed with the purchase of a leasehold property the remaining number of years is under 80 years. In the circumstances it is essential at an as soon as possible that you identify whether the lease requires a lease extension. If it does, contact your solicitors before you put your home on the market for sale. If you have had any disputes with your landlord or managing agents it is essential that these are resolved prior to the flat being marketed. The purchasers and their solicitors will be reluctant to purchase a property where there is an ongoing dispute. You may have to bite the bullet and discharge any arrears of service charge or settle the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose particulars of the dispute to the buyers, but it is better to reveal the dispute as historic as opposed to ongoing. If you have the benefit of shareholding in the freehold, you should ensure that you are holding the original share certificate. Organising a duplicate share certificate is often a time consuming process and slows down many a St Ives home move. Where a duplicate share certificate is necessary, do contact the company director and secretary or managing agents (if applicable) for this at the earliest opportunity.
I purchased a studio flat in St Ives, conveyancing was carried out December 2010. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Corresponding properties in St Ives with a long lease are worth £216,000. The ground rent is £50 levied per year. The lease comes to an end on 21st October 2095
With 70 years unexpired the likely cost is going to range between £9,500 and £11,000 as well as legals.
The figure above a general guide to costs for renewing a lease, but we are not able to supply a more accurate figure without more detailed investigations. You should not use the figures in tribunal or court proceedings. There may be additional concerns 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.