The Telford conveyancing solicitors that I appointed last week on my purchase in Telford have suddenly closed. They were on acting for me because I had to have a solicitor on the TSB conveyancing panel and my previous Telford lawyer was not. I issued them a cheque for two hundred pounds in advance. What do I do now?
If you have an estate agent involved then inform them immediately so that they advise the vendors that there may be a slight delay due to the problems encountered. Most sellers would be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You should appoint new lawyers that are on the TSB conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new lawyers should be in a position to help.
Various internet forums that I have frequented warn that are the number one cause of obstruction in Telford house deals. Is that correct?
The Council of Property Search Organisations (CoPSO) has noted the determinations of a review by MoveWithUs that conveyancing searches do not feature amongst the common causes of hindrances during the legal transfer of property. Local searches are not likely to be the root cause of delay in conveyancing in Telford.
Are there restrictive covenants that are commonly identified during conveyancing in Telford?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the process of conveyancing in Telford. 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 downsizing from my house. My previous lawyers has retired. I am in need of a recommendation of a conveyancing firm. Im based in Telford if that affects matters.
You should use our search tool to help you choose a solicitor for your conveyancing in Telford. We have connected thousands of home buyers and sellers with lender approved solicitors to ensure that the legalities of their house move goes with a minimum of fuss.
I am looking at a couple of apartments in Telford which have about forty five years remaining on the lease term. Will this present a problem?
There is no doubt about it. A leasehold apartment in Telford is a deteriorating asset as a result of the reducing lease term. The closer the lease gets to zero years unexpired, the more it reduces the marketability of the premises. For most buyers and banks, leases with less than eighty years become less and less attractive. On a more positive 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 Telford 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 acquired a basement flat in Telford, conveyancing formalities finalised in 2007. Can you please calculate a probable premium for a statutory lease extension? Equivalent flats in Telford with a long lease are worth £202,000. The ground rent is £60 yearly. The lease ends on 21st October 2082
With only 57 years remaining on your lease we estimate the premium for your lease extension to span between £28,500 and £33,000 plus costs.
The figure that we have given is a general guide to costs for renewing a lease, but we are not able to provide a more accurate figure without more comprehensive investigations. You should not use this information in tribunal or court proceedings. There are no doubt other concerns 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.
We are considering using a web based lawyer rather than a Telford conveyancing practice. Any advice?
Various benefits exist in having the option pop in to a local Telford conveyancing solicitor for instance
- signing documents same day
- having one on one explanations of things that you need help with
- the ability to raise concerns if matters need to addressed
When comparing quotes, look carefully for hidden extras. The majority decent Telford high street solicitors give an all-inclusive figure. Often online companies appear to offer cheap prices, yet have hidden 'extras' in the fine print.