I was notified today by my estate agent that my Wellesbourne solicitor is not on the mortgage company Conveyancing panel. How can I be sure if this is correct?
You need to contact your Wellesbourne conveyancer. It is reasonable to expect your lawyer to notify you of the situation. Where they are not on the panel they could put your in touch with solicitors on the approved list of lawyers for your lender.
I am buying a right to buy a flat in Wellesbourne. Can I do my own conveyancing?
Leaving aside the complexities and merits of DIY conveyancing in Wellesbourne you will have to appoint a solicitor on your lender's conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to be made in you doing conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on your lender panel in Wellesbourne.
I used Arc property Solicitors several years ago for my conveyancing in Wellesbourne. I now require my papers but the law firm has closed. What do I do?
You should call the Solicitors Regulatory Authority (SRA) to assist in tracing your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Wellesbourne of the conveyancing firm of solicitors you previously retained, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
Due to the encouragement of my in-laws I had a survey completed on a house in Wellesbourne prior to instructing solicitors. I have been told that there is a flying freehold overhang to the property. Our surveyor advised that some lenders will refuse to give a loan on this type of home.
It depends who your proposed lender is. Santander has different instructions for example to Birmingham Midshires. If you e-mail us we can investigate further via the appropriate lender. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Wellesbourne. Conveyancing will be smoother if you use a solicitor in Wellesbourne especially if they regularly deal with such properties in Wellesbourne.
I work for a reputable estate agent office in Wellesbourne where we see a number of flat sales derailed as a result of leases having less than 80 years remaining. I have been given contradictory information from local Wellesbourne conveyancing firms. Please can you shed some light as to whether the owner of a flat can initiate the lease extension process for the buyer?
As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser need not have to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or simultaneously with completion of the sale.
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 buyer.
I own a 2 bed flat in Wellesbourne, conveyancing was carried out April 2008. Can you give me give me an indication of the likely cost of a lease extension? Comparable properties in Wellesbourne with an extended lease are worth £165,000. The ground rent is £50 invoiced every year. The lease expires on 21st October 2102
With just 77 years remaining on your lease we estimate the price of your lease extension to range between £7,600 and £8,800 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 a more accurate figure in the absence of comprehensive due diligence. Do not use this information in tribunal or court proceedings. There are no doubt additional concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information before getting professional advice.
My partner and I have an offer in principle from Leeds Building Society who said we could borrow up to £400k. When do we need to appoint a lawyer for conveyancing? Wellesbourne is where we plan to move to.
You can instruct a solicitor now so that the conveyancing practitioner can open the ledger so they can commence the ID checks etc. If and when you wish them to start work they will seek a deposit usually approximately £175. That would generally be after you have the loan offer from the lender and valuation report, nevertheless if you want to speed the process you can start sooner even though you may be risking some money.