Me and my fiance are buying property in Albrighton. My Conveyancer is not on the lender approved list. Is it possible for me to use my Albrighton conveyancing solicitor notwithstanding that they are excluded from the bank list of approved lawyers?

You will need to use a property lawyer to complete the legal work required if you require a mortgage to purchase your home. The conveyancing practitioner will conduct all the essential investigations on the property, make sure that you will be properly registered as the owner and ensure that all the necessary mortgage paperwork is in order. You can appoint a Albrighton lawyer of your choosing. However, where the conveyancer appointed is not a member of the bank approved list further fees will be incurred as separate legal representation will be required by them. Bank panel applications may be submitted, so provided your lawyer has not historically applied for membership they can do so.

Have completed on a a detached house in Albrighton , What is the estimated time for the Land Registry to register my title? My Albrighton conveyancing solicitor has been very slow, so I want to check the registration formalities are dealt with.

As far as conveyancing in Albrighton registration is no faster or slower than the rest of England and Wales. As opposed to being determined by geographic area, timeframes can adjust according to who lodges the application, whether it is in order and if the Land registry have to notify any interested parties. As of today roughly 80% of such applications are fully addressed within 12 days but occasionally there can be extensive delays. Historically registration is effected after the purchaser is living at the property thus an expedited registration is not typically primary concern but where there is a degree of urgency associated with the registration then you or your conveyancer can speak with the land registry and explain the circumstances.

I opted to have a survey carried out on a house in Albrighton in advance of retaining lawyers. I have been advised that there is a flying freehold element to the property. Our surveyor advised that some banks tend refuse to grant a loan on this type of house.

It depends who your proposed lender is. Santander has different requirements from Nationwide. If you call us we can investigate further with the relevant bank. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Albrighton. Conveyancing will be smoother if you use a solicitor in Albrighton especially if they are acquainted with such properties in Albrighton.

How can the Landlord & Tenant Act 1954 affect my business property in Albrighton and how can you help?

The 1954 Act provides protection to business leaseholders, giving them the legal entitlement to apply to court for a continuation of occupancy when the lease comes to an end. There are certain specified grounds that a landlord can refuse a lease renewal and the rules are complex. We are happy to direct you to commercial conveyancing firms who use the act for protection and assist with commercial conveyancing in Albrighton

I am tempted by the attractive purchase price for a two maisonettes in Albrighton both have approximately forty five years remaining on the lease term. Should I regard a short lease as a deal breaker?

There are no two ways about it. A leasehold flat in Albrighton is a wasting asset as a result of the reducing lease term. The nearer the lease gets to its expiry date, the more it adversely affects the salability of the premises. The majority of purchasers and banks, leases with under 75 years become less and less marketable. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of premises with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Albrighton conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending the lease. You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that any new terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.

Albrighton Conveyancing for Leasehold Flats - Sample of Queries Prior to Purchasing

What is the service charge and ground rent on the apartment? Does the lease have onerous restrictions? You should be aware if it is fewer than eighty years it will affect the value of the apartment. It is worth checking with your mortgage company that they are willing to lend given the lease term. A short lease means that you will almost definitely have to extend the lease at some point and you need to have some idea of what this would cost. Remember, in most cases you will be required to have owned the residence for a couple of years before you are eligible to exercise a lease extension.