Unfortunately I am unable to travel far from Worplesdon. I would like to know the logic why all Worplesdon property lawyers aren't automatically on all mortgage company panels?
Pre- 2008 most mortgage companies had an attitude to risk which is different than today. The Financial Services Authority in 2010 carried out a thematic review into mortgage fraud which in summary warned lenders: know the property lawyers on your panel. As a result, lenders have subsequently soughtmore information from law firms about their operations and the individuals who work for them and set certain criteria such as completing a minimum amount of transactions. Many firms have been excluded from lender panels even though they had an exemplary disciplinary record, no complaints and no claims and didn't just 'dabble' in conveyancing. Such firms were never going to satisfy the minimum amount of transactions the lenders insisted on.
We see that you have a search directory listing solicitors on the Bank of Ireland conveyancing panel. Do companies pay you a referral fee if I retain them for our own conveyancing in Worplesdon?
We are a listing service only for law firms wishing to communicate if they are on the Bank of Ireland conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Worplesdon.
Over the last few months I have been searching for a leasehold apartment up to £235,500 and identified one near me in Worplesdon I like with a park and transport links nearby, however it's only got 51 remaining years left on the lease. I can't really find anything else in Worplesdon for this price, so just wondered if I would be making a grave error purchasing a lease with such few years left?
Should you need a home loan the shortness of the lease will likely be an issue. Reduce the price by the expected lease extension will cost if it has not already been discounted. If the current owner has owned the property for a minimum of twenty four months you could ask them to start the process of the extension and then assign it to you. You can add 90 years to the existing lease with a zero ground rent applied. You should speak to your conveyancing solicitor concerning this matter.
Given that I will soon spend hundreds of thousands of pounds on a terraced house in Worplesdon I wish to have a conversation with the lawyer regarding theconveyancing ahead of appointing the firm. Is this something that you can arrange?
This is something that we recommend - it is our preference to talk to you we do not take any clients on without you liaising with the lawyer due to be conducting your property ownership legalities in Worplesdon.There is no ‘factory style conveyancing’ - every client is an important individual, not a case reference. The practices that we put you in touch with believe that the figure you are calculated and presented to you for residential conveyancing in Worplesdon should be the amount on the final invoice that you end up paying.
My brother has suggested that I use his lawyers for conveyancing in Worplesdon. Do I take his guidance?
There are no two ways about it it’s preferable to select a conveyancing lawyer is to seek recommendations from friends or relatives who have previously instructed the conveyancer you're are thinking of instructing.
Back In 2000, I bought a leasehold flat in Worplesdon. Conveyancing and Virgin Money mortgage went though with no issue. I have received a letter from someone claiming to own the reversionary interest in the property. It included a ground rent demand for rent dating back to 1991. The conveyancing practitioner in Worplesdon who acted for me is not around. Any advice?
First contact HMLR to be sure that this person is in fact the new freeholder. It is not necessary to instruct a Worplesdon conveyancing solicitor to do this as it can be done on-line for a few pound. Rest assured that in any event, even if this is the legitimate landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I own a 2 bed flat in Worplesdon, conveyancing was carried out half a dozen years ago. Can you work out an approximate cost of a lease extension? Comparable flats in Worplesdon with over 90 years remaining are worth £185,000. The ground rent is £65 levied per year. The lease comes to an end on 21st October 2086
With just 60 years remaining on your lease we estimate the premium for your lease extension to span between £20,000 and £23,000 plus costs.
The suggested premium range above a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more comprehensive due diligence. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Neither should you move forward based on this information without first getting professional advice.