How do I check that the solicitor carrying out my conveyancing in Wednesbury is on the mortgage lender’sapproved panel? I am looking to avoid the situation of having one lawyer for me and one for Norwich and Peterborough Building Society thus paying £175.00 in another set of legal bill.
You should make use of the find a lender approved solicitor tool on this web page. Please choose the mortgage company and type ‘Wednesbury’ or your location and you will see a number of lawyer based in Wednesbury or nearest you.
I am buying a new build apartment in Wednesbury. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build legal work.
Here is a sample of a selection of leasehold new build questions that you should expect your new-build leasehold conveyancing in Wednesbury
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The Vendor must covenant to keep unoccupied units in good repair until long leases are granted therefore. The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. Please supply a car parking plan. Forfeiture - bankruptcy or liquidation must not apply under this provision. Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease.
Over the last few months I have been searching for a leasehold apartment up to £245,000 and identified one close by in Wednesbury I like with amenity areas and railway links in the vicinity, the downside is that it's only got 61 remaining years left on the lease. There is not much else in Wednesbury for this price, so just wondered if I would be making a grave error purchasing a lease with such few years left?
Should you need a mortgage the shortness of the lease will be problematic. Discount the offer by the anticipated lease extension will cost if not already taken into account. If the existing owner has owned the property for at least twenty four months you may ask them to commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the existing lease term and have £0 ground rent by law. You should speak to your conveyancing solicitor regarding this matter.
Should I be suspicious by third parties that I am dealing with are recommending an internet conveyancing firm as opposed to a local Wednesbury conveyancing firm?
As is the case with lots of professional services, often suggestions from connections can be worth their weight in gold. Yet there are many players in a conveyancing transaction; estate agents, financial adviser and banks may suggest solicitors to use. Sometimes the lawyers might be known to one of the organisations as being good in their field, but occasionally there may be a commercial relationship behind the endorsement. You have the right to appoint your own lawyer. However, bear in mind that the majority of lenders operate an approved list of law firms you must use for the lender related work in your transaction.
We're new on the property ladder - agreed a price, but the property agent advised that the owners will only go ahead if we instruct the agent's chosen conveyancers as they need an ‘expedited deal’. We would rather use a local solicitor who is familiar with conveyancing in Wednesbury
It is highly unlikely the owners are behind this. If they desire ‘a quick sale', taking such a hostile approach to a motivated purchaser is is going to put the whole deal at risk. Speak to the vendors direct and make the point that (a)you are genuine buyers (b)you are ready to progress, with mortgage lined up © you do not need to sell (d) you intend to proceed fast (e)but you intend to instruct your own,trusted Wednesbury conveyancing lawyers - rather thanthose that will give the negotiator at the agency a introducer fee or achieve conveyancing thresholds pre-set by corporate headquarters.
I own a leasehold house in Wednesbury. Conveyancing and Birmingham Midshires mortgage went though with no issue. I have received a letter from someone saying they have taken over the freehold. It included a demand for arrears of ground rent dating back to 1998. The conveyancing solicitor in Wednesbury who acted for me is not around. What should I do?
First contact HMLR to make sure that the individual claiming to own the freehold is indeed the registered owner of the freehold reversion. There is no need to incur the fees of a Wednesbury conveyancing lawyer to do this as you can do this on the Land Registry website for less than a fiver. You should note that in any event, even if this is the rightful landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I purchased a 1st floor flat in Wednesbury, conveyancing having been completed 7 years ago. 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? Equivalent flats in Wednesbury with a long lease are worth £179,000. The ground rent is £65 charged once a year. The lease finishes on 21st October 2082
With only 57 years remaining on your lease the likely cost is going to be between £26,600 and £30,800 plus plus your own and the landlord's "reasonable" professional fees.
The figure above a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more comprehensive investigations. Do not use the figures in a Notice of Claim or as an informal offer. There may be additional concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information without first getting professional advice.