We are purchasing a flat and need a conveyancing solicitor in Horsford who is on the Bank of Ireland solicitor panel. Could you point me in the right direction as regards a conveyancing firm?
Our service is limited to being a directory service for firms who wish to be listed as being on the approved conveyancing panel for Bank of Ireland . We don't recommend any particular firms conducting conveyancing in Horsford.
My aunt passed away six months ago and as sole heir and executor I was left the property in Horsford. The house had a small mortgage left on it of around £8000. I want to transfer the title deeds into my name whilst I re-mortgage to Virgin Money, pay off the mortgage. Is this possible?
Given you intend to refinance then Virgin Money will require that you use a conveyancer on the Virgin Money conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Virgin Money conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Virgin Money mortgage is registered as a charge at the Land Registry.
My partner and I are close to exchanging contracts on the sale of our home in Horsford and the buyers lawyers are claiming that there is a risk of it being constructed land that was not decontaminated. A high street Horsford lawyer would know this is not the case. For the life of me I don't know why the buyers are using an online conveyancing firm as opposed to a conveyancing solicitor in Horsford. Having lived in Horsford for 5 years we know of no issue. Do we contact our local Authority to obtain clarification need.
It sounds as though you may have a conveyancing solicitor already. Are they able to advise? You should enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out life insurance to cover that same illness)
How does conveyancing in Horsford differ for new build properties?
Most buyers of new build property in Horsford contact us having been asked by the housebuilder to sign contracts and commit to the purchase even before the premises is built. This is because builders in Horsford tend to purchase the site, 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 conveyancing solicitors 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 accustomed to new build conveyancing in Horsford or who has acted in the same development.
I am employed by a long established estate agent office in Horsford where we see a number of leasehold sales derailed as a result of leases having less than 80 years remaining. I have received contradictory information from local Horsford conveyancing solicitors. Please can you shed some light as to whether the vendor of a flat can instigate the lease extension formalities for the buyer?
As long as 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. The benefit of this is that the proposed purchaser 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 has to be done before, or at the same time as completion of the sale.
An alternative approach is 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.
I inherited a leasehold flat in Horsford, conveyancing formalities finalised 6 years ago. How much will my lease extension cost? Equivalent flats in Horsford with over 90 years remaining are worth £195,000. The ground rent is £45 invoiced annually. The lease ends on 21st October 2088
You have 64 years remaining on your lease we estimate the premium for your lease extension to span between £14,300 and £16,400 plus professional fees.
The figure above a general guide to costs for renewing a lease, but we cannot give you the actual costs without more detailed due diligence. Do not use the figures in tribunal or court proceedings. There may be additional issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Please do not move forward based on this information before getting professional advice.