How up to date is your database of Wedmore solicitors on the Co-operative conveyancing panel? Do Co-operative send you an updated list?
Wedmore conveyancing firms themselves provide us confirmation that they are on the Co-operative conveyancing panel as opposed to being supplied with a list from Co-operative directly.
We're in Wedmore, First timers buying with a mortgage (lender is Nottingham , and our solicitor is on the Nottingham conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Nottingham conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no property lawyer should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
Despite weeks of looking the Title Certificate and documents to my home are lost. The conveyancers who handled the conveyancing in Wedmore 5 years ago are no longer around. What do I do?
Gone are the days when you need to hold title original deeds to prove you are the owner of your registered land or property, as the Land Registry have everything they need in a digital format.
How does conveyancing in Wedmore differ for new build properties?
Most buyers of new build or newly converted property in Wedmore contact us having been asked by the developer to exchange contracts and commit to the purchase even before the property is ready to move into. This is because developers in Wedmore typically acquire the land, 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 conveyancing solicitors 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 Wedmore or who has acted in the same development.
My wife and I purchased a leasehold house in Wedmore. Conveyancing and Barclays mortgage are in place. A letter has just been received from someone saying they have taken over the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1996. The conveyancing practitioner in Wedmore who acted for me is not around. What should I do?
First make enquiries of HMLR to be sure that this person is indeed the new freeholder. It is not necessary to incur the fees of a Wedmore conveyancing lawyer to do this as it can be done on-line for a few pound. Rest assured that regardless, even if this is the legitimate landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I invested in buying a basement flat in Wedmore, conveyancing was carried out half a dozen years ago. Can you give me give me an indication of the likely cost of a lease extension? Corresponding properties in Wedmore with over 90 years remaining are worth £197,000. The average or mid-range amount of ground rent is £55 yearly. The lease terminates on 21st October 2079
With only 55 years left to run we estimate the price of your lease extension to range between £31,400 and £36,200 plus costs.
The suggested premium range above a general guide to costs for renewing a lease, but we are not able to provide the actual costs without more detailed due diligence. Do not use this information in a Notice of Claim or as an informal offer. There may be additional concerns 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 before seeking the advice of a professional.
My wife and I are disposing of a Wedmore apartment left to us ten years ago in 2010. I have over a decades worth of conveyancing experience and, now retired, intend to carry out my own conveyancing. The purchaser's property lawyer has informed me that their Lenders will not allow us to do our own conveyancing requiring the funds to be sent to a solicitor's bank account.
Mortgage requirements to lawyers from all mainstream lenders state that If the vendor is not legally represented the buyer’s lawyers should check whether the lender needs to be told so that a decision can be reached as to whether or not they are prepared to move forward.