We selected a local lawyer for our conveyancing in Wool recently. Reviewing the terms of engagement it is apparent thatwe are on the hook for charges even if the movedoes not happen. Should I go with them or choose a web based firm promoting no completion no charge conveyancing in Wool?
It is usually a trade off in that if "No Sale No Fee" is offered then the fee levels will generally be more expensive to neutralise the conveyances that do not proceed. You should be mindful that these deals tend not to cover outlay such as Wool conveyancing search expenses.
Do the Building Society Association intend to launch a searchable register to to identify practices on the Melton Mowbray Building Society conveyancing panel for instance in Wool?
We are not aware of any plans on the part of the BSA to promote such a search facility.
I have been told that property searches are a common cause of delay in Wool house deals. Is this right?
The Council of Property Search Organisations (CoPSO) has noted the conclusions of a review by MoveWithUs that conveyancing searches do not feature amongst the most frequent causes of delays during the legal transfer of property. Local searches are unlikely to feature in any delay in conveyancing in Wool.
Are there any apps to help locate a Wool solicitor on the Nationwide Building Society conveyancing panel? I drive a motor bike and am prepared to travel upto 25miles to meet the lawyer.
Feel free to make use of the facility on this website. Please pick a lender and your location and you will see a number of Wool conveyancing lawyers located nearest you. We have listed some Wool conveyancing firms at the bottom of this page and you can contact them to see if they are on the Nationwide Building Society member panel
I am a negotiator for a busy estate agency in Wool where we see a few leasehold sales jeopardised as a result of short leases. I have received inconsistent advice from local Wool conveyancing solicitors. Can you confirm whether the owner of a flat can commence the lease extension process for the purchaser on completion of the sale?
Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser can avoid having to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or simultaneously with completion of the disposal of the property.
Alternatively, it may be possible 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 purchaser.
Wool Leasehold Conveyancing - Examples of Queries before Purchasing
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You should be aware that where the lease has fewer than 80 years it will have adverse implications on the value of the property. Check with your lender that they are happy with residual term of the lease. A short lease means that you will probably need a lease extension sooner rather than later and it is worth finding out what this would cost. For most Woollease extensions you would be be obliged to have been the owner of the residence for a couple of years in order to be legally able to extend the lease. How many of the leaseholders are in arrears for their service charge payments? What restrictions exist in the Wool Lease?
How do I determine who is the owner of a house in Wool?
As long as the premises is recorded at HMLR, and you have sufficient details of the location of the property, you should be able to view results from the HMLR of the registered owner for a for less than a fiver.