I have justdiscovered that Wolstenholmes have closed. They conducted my conveyancing in Suffolk for a purchase of a leasehold flat 9 months ago. How can I establish that my home is in my name in the name of the former proprietor?
The easiest way to see if the premises is in your name, you can carry out a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Suffolk conveyancing specialists.
How does conveyancing in Suffolk differ for newly converted properties?
Most buyers of new build property in Suffolk approach us having been asked by the seller to sign contracts and commit to the purchase even before the property is ready to move into. This is because house builders in Suffolk tend to acquire the site, 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 property lawyers 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 used to new build conveyancing in Suffolk or who has acted in the same development.
Is it simple use your search app to locate a conveyancing solicitor in Suffolk on the approved list for my bank?
First select a bank such as Nationwide Building Society, Virgin Money or Bank of Ireland then specify your location for instance Suffolk. Conveyancing organisations in Suffolk and beyond will then be identified.
Should I appoint a Suffolk conveyancing practitioner based in the area that I am purchasing? An old friend can perform the legal formalities however her office is over three hundred kilometers away.
The primary upside of using a high street Suffolk conveyancing firm is that you can attend the office to sign paperwork, hand in your identification documents and apply pressure on them where appropriate. They will also have local knowledge which is a benefit. That being said it's more important to get someone that will do a good and efficient job. If if people you trust used your friend and the majority were happy that must trump using an unknown Suffolk conveyancing lawyer just because they are round the corner.
I am employed by a long established estate agent office in Suffolk where we have experienced a few leasehold sales jeopardised as a result of short leases. I have received inconsistent advice from local Suffolk conveyancing firms. Please can you shed some light as to whether the vendor of a flat can instigate the lease extension formalities for the buyer?
Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser can avoid having to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or at the same time as completion of the disposal of the property.
An alternative approach is to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.
I own a 1 bedroom flat in Suffolk, conveyancing was carried out February 2001. Can you shed any light on how much the price could be for a 90 year extension to my lease? Equivalent properties in Suffolk with over 90 years remaining are worth £202,000. The average or mid-range amount of ground rent is £60 charged once a year. The lease ceases on 21st October 2081
You have 56 years remaining on your lease the likely cost is going to range between £29,500 and £34,000 as well as legals.
The figure that we have given is 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 this information in tribunal or court proceedings. There may be additional issues that need to be considered and clearly you should be as accurate as possible in your negotiations. You should not move forward based on this information without first getting professional advice.
My folks are having difficulties in finding their Suffolk land registry title on the online search facility. They recall that 50 years ago when they purchased the house there were complications regarding Suffolk not being recognised in some systems.
The vast majority of residences in Suffolk should show up. Have you attempted a search with just the postcode. Ordinarily it will reveal all the premises inside the postcode. Where recorded it will be there with a title number. Where they bought back in the 70’s it's conceivable it may be unrecorded. The property might still be revealed but with the title number identified as 'na'. In this scenario you will need to track down the original title documentation which could be with your parent’s mortgage company.