Me and my partner are acquiring a flat in Woodthorpe. My Conveyancer is not on the lender solicitor panel. Is it possible for me to appoint my Woodthorpe conveyancing solicitor notwithstanding that they are excluded from the bank list of approved lawyers?
You must appoint a solicitor to deal with the formalities if you require a loan to purchase your property. The lawyer will conduct all the relevant due diligence on the property, make sure that you’re properly registered as the owner and ensure that all the necessary mortgage paperwork is in order. You may appoint a Woodthorpe property lawyer of your choosing. Nevertheless, if the conveyancing practitioner selected is not a member of the lender approved list additional costs will be levied as separate legal representation will be required by them. Conveyancing panel applications can be submitted, so provided your lawyer has not previously applied for membership they should take the opportunity to apply.
Are the BSA intent on creating a search tool with a view to list firms on the Coventry BS conveyancing panel for instance in Woodthorpe?
We have not been informed any plans on the part of the BSA to develop such a register.
I have justdiscovered that Stirling Law have closed. They conducted my conveyancing in Woodthorpe for a purchase of a leasehold flat 10 months ago. How can I establish that the property is not still registered in the name of the former proprietor?
The quickest method to check if the premises is in your name, you can make 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 Woodthorpe conveyancing specialists.
About to purchase a new build apartment in Woodthorpe. Conveyancing is a frightening process 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 few leasehold new build enquiries that you should expect your new-build leasehold conveyancing in Woodthorpe
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Please provide evidence that the form of Lease proposed has been approved by the Land Registry. Please supply a car parking plan. The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore. Forfeiture - bankruptcy or liquidation must not apply under this provision.
I am looking for a flat up to £305k and found one round the corner in Woodthorpe I like with amenity areas and railway links in the vicinity, however it's only got 61 years on the lease. There is not much else in Woodthorpe suitable, so just wondered if I would be making a grave error buying a lease with such few years left?
Should you need a home loan the remaining unexpired lease term will be a potential deal breaker. Reduce the price by the expected lease extension will cost if not already taken into account. If the existing proprietor has owned the property for at least 2 years you may request that they start the process of the extension and then assign it to you. An additional ninety years can be extended on to the existing lease term with a zero ground rent applied. You should consult your conveyancing solicitor concerning this matter.
My wife and I purchased a leasehold house in Woodthorpe. Conveyancing and Leeds Building Society mortgage went though with no issue. I have received a letter from someone saying they have taken over the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1991. The conveyancing practitioner in Woodthorpe who acted for me is not around. Do I pay?
First contact HMLR to be sure that this person is indeed the registered owner of the freehold reversion. There is no need to incur the fees of a Woodthorpe conveyancing firm to do this as it can be done on-line for £3. You should note that regardless, even if this is the legitimate freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I own a ground floor flat in Woodthorpe, conveyancing having been completed half a dozen years ago. Can you work out an approximate cost of a lease extension? Similar flats in Woodthorpe with over 90 years remaining are worth £180,000. The ground rent is £65 per annum. The lease comes to an end on 21st October 2084
With 59 years remaining on your lease the likely cost is going to be between £20,900 and £24,200 as well as plus your own and the landlord's "reasonable" professional fees.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to advice on a more accurate figure in the absence of comprehensive investigations. Do not use the figures in tribunal or court proceedings. There are no doubt other issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. Neither should you take any other action based on this information before seeking the advice of a professional.