I am obtaining a mortgage with Santander. I would like to employ the services of a Licensed Conveyancer in Wool. Does the Santander Conveyancing panel include conveyancers regulated by the CLC?
The Santander conveyancing panel is, like many other lenders, represented by the CML or Building Society Association, open to Licensed Conveyancers regulated by the CLC.
We are purchasing our first home. The conveyancer has texted usto ask if we wish to order extra conveyancing searches. Unfortunately we are clueless as to what's relevant for conveyancing in Wool
The type of Wool conveyancing searches should be triggered based primarily on the property, the location, the likelihood of any of these risks, your knowledge of the locality and risks, your general appetite to risk. What is important is that you properly appreciate what information each search could give you. Then you can make a decision if you consider that you need that information. Should you be in doubt, ask your solicitor to explain.
Various web forums that I have come across warn that are the number one cause of delay in Wool conveyancing transactions. Is this right?
The Council of Property Search Organisations (CoPSO) has noted the findings of a review by MoveWithUs that conveyancing searches do not figure within the top 10 causes of delays in the conveyancing process. Local searches are unlikely to be the root cause of holding up conveyancing in Wool.
My brother has suggested that I instruct his lawyers for conveyancing in Wool. Should I choose my own solicitor?
No doubt it’s preferable to select a conveyancing solicitor is to get feedback from friends or family who have used the solicitor that you are are thinking of instructing.
I am employed by a busy estate agency in Wool where we see a few leasehold sales derailed as a result of short leases. I have received conflicting advice from local Wool conveyancing firms. Please can you shed some light as to whether the seller of a flat can initiate 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 start the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer need not have to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or simultaneously with completion of the sale.
Alternatively, it may be possible to agree the lease extension with the freeholder 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 purchased a 2 bed flat in Wool, conveyancing formalities finalised in 2007. Can you let me have an estimated range of the fair premium for a lease extension? Similar flats in Wool with an extended lease are worth £216,000. The average or mid-range amount of ground rent is £50 yearly. The lease finishes on 21st October 2094
With only 69 years remaining on your lease the likely cost is going to span between £9,500 and £11,000 plus costs.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to supply the actual costs in the absence of detailed investigations. Do not use this information in tribunal or court proceedings. There are no doubt other issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information before seeking the advice of a professional.
How does one remove a departed person's name from the title register for a house in Wool?
If a Wool property is jointly owned and one of the proprietors passes away, the name will not immediately be removed from the title deeds. It is not necessary to remove their name as in the event of a disposal you would just be required to supply proof why the other owner is not a party to the conveyance, normally this is in the form of a grant of probate.
With a view to making the sale conveyancing simpler for the sale of the property you can apply to have the deceased party removed from the title entries by submitting an application to HMLR with proof of the death. There is no land registry fee payable.