We are a couple about to exchange contracts for a ground floor flat in Upper Tean. We have hit a stumbling block. The mortgage offer with Britannia expires on 9/1/2025 but the vendors are suggesting a completion date of 13/1/2025. Can one extend the mortgage expiry date?
The best person to deal with your concern is your lawyer who will calculate if they better off negotiating with the bank, vendor’s solicitors, selling agents or conceivably all three given the circumstances your conveyancing as of today.
In what way does my ID and proof of funds have anything to do with my conveyancing in Upper Tean? Why is this being asked of me?
To satisfy the Money Laundering Regulations any Upper Tean conveyancing firm will require proof of identity in all conveyancing matters. This is normally dealt with by provision of a passport and an original bank statement or utility account evidencing your correct address.
In accordance with Money Laundering Regulations, conveyancing solicitors are obliged by law to investigate not simply the identity of conveyancing clients but also the source of the money that they receive in respect of any matter. An unwillingness to disclose this may lead to your conveyancer ending their relationship with you, as clearly this will cause a conflict between the set Regulations and a refusal to disclose.
Your property lawyers are duty bound to inform the relevant authorities should they consider that any amounts received by them may contravene the Anti-terror and anti-money-laundering rules.
Yesterday I discovered that there is a flying freehold element on a house I have offered on two weeks back in what should have been a quick, chain free conveyancing. Upper Tean is the location of the property. Can you offer any assistance?
Flying freeholds in Upper Tean are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Upper Tean you must be sure that your lawyer goes through the deeds thoroughly. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Upper Tean may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
My step-father has urged me to appoint his lawyers for conveyancing in Upper Tean. Do I follow his advice?
There are no two ways about it it’s preferable to select a conveyancing lawyer is to seek guidance from friends or family who have actually used the conveyancer that you are contemplating using.
Having checked my lease I have discovered that there are only Sixty One years unexpired on my lease in Upper Tean. I now wish to extend my lease but my landlord is can not be found. What are my options?
If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will mean that your lease can be lengthened by the magistrate. You will be obliged to demonstrate that you or your lawyers have used your best endeavours to find the freeholder. On the whole a specialist would be useful to carry out a search and to produce a report which can be accepted by the court as evidence that the landlord can not be located. It is wise to seek advice from a solicitor both on devolving into the landlord’s disappearance and the vesting order request to the County Court overseeing Upper Tean.
I am the registered owner of a split level flat in Upper Tean, conveyancing formalities finalised half a dozen years ago. Can you work out an approximate cost of a lease extension? Equivalent properties in Upper Tean with an extended lease are worth £186,000. The ground rent is £55 invoiced annually. The lease runs out on 21st October 2076
With only 52 years left to run we estimate the price of your lease extension to be between £29,500 and £34,000 plus costs.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we are not able to supply a more accurate figure without more detailed due diligence. You should not use the figures in tribunal or court proceedings. There are no doubt additional issues that need to be considered and you obviously should be as accurate as possible in your negotiations. You should not move forward placing reliance on this information before getting professional advice.
I am thinking of appointing a web based conveyancer as opposed to a Upper Tean conveyancing firm. Any advice?
Advantages do exist in having the opportunity to visit a local Upper Tean conveyancing solicitor for example
- signing papers on short notice
- sometimes being able to see someone face-to-face can make a huge difference, particularly for non-standard transactions
- the ability to raise concerns if things need to addressed
When checking fees, look carefully for hidden extras. The majority decent Upper Tean high street solicitors give an all-inclusive price. Often online companies seem to offer discounted prices, yet have burried 'extras' in the in the terms and conditions.