Can you explain why leasehold purchase conveyancing in Westbourne costs more?
The conveyancing fees on a leasehold property in Westbourne is frequently greater when contrasted to a freehold transaction. This is due to the additional work necessary in liaising with the freeholder and management company to obtain information concerning whether the rent and maintenance fee have been discharged and whether there are any major works due in the near future on repairs or maintenance of the building.
I have todaydiscovered that Stirling Law have been shut down. They carried out my conveyancing in Westbourne for a purchase of a leasehold flat 18 months ago. How can I establish that the property is not still registered in the name of the former proprietor?
The easiest way to see if the premises is in your name, you can carry out a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Westbourne conveyancing specialists.
How does conveyancing in Westbourne differ for newly converted properties?
Most buyers of new build premises in Westbourne come to us having been asked by the builder to sign contracts and commit to the purchase even before the property is built. This is because developers in Westbourne usually 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 property lawyers 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 Westbourne or who has acted in the same development.
I'm remortgaging my existing house to a BTL mortgage with Lloyds TSB Bank and I will use the ballance of the raised equity as a down payment on a second property. The neighborhood we are talking about is Westbourne. Will your lawyers be able to act for the two banks and tie in the two deals?
Make use of our search tool on this page to ensure that the lawyers are approved by both lenders. On the basis that they are your lawyer will be able to connect the two transactions but you should have a chat with you conveyancer and make clear your desired outcome and needs.
I've recently bought a leasehold property in Westbourne. Do I have any liability for service charges relating to a period prior to my ownership?
In a situation where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I inherited a split level flat in Westbourne, conveyancing formalities finalised 3 years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Similar flats in Westbourne with over 90 years remaining are worth £191,000. The average or mid-range amount of ground rent is £55 levied per year. The lease ceases on 21st October 2079
With 54 years left to run we estimate the price of your lease extension to span between £31,400 and £36,200 plus professional fees.
The figure above a general guide to costs for extending a lease, but we cannot give you the actual costs without more detailed investigations. Do not use the figures in tribunal or court proceedings. There are no doubt additional issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Neither should you take any other action based on this information without first seeking the advice of a professional.
I have read on a number of online forums that before selecting a conveyancing firm they must be approved by your bank. It happens to be my first house move but I have an AIP from HSBC and I already have a family conveyancing lawyer in Westbourne at the ready. Can Halifax require an approved conveyancer to be selected? Does a list of panel solicitors even exist so I can appoint a conveyancing lawyer in Westbourne?
You should choose a solicitor that is on the Halifax panel. Simply call your preferred Westbourne conveyancing solicitor to check if they are on the Halifax panel. If they are not on the panel you have a number of alternatives open to you here:
- Carry on with your existing Westbourne conveyancing practitioner but Halifax will undoubtedly retain a conveyancer on their approved list. This will result in additional charges together with probable interruption.
- Get a fresh lawyer to conduct the conveyancing, not forgetting to check that they are on the Halifax conveyancing panel.
- Convince your conveyancer to seek to join the bank panel.