I am currently in the process of buying my council flat in Aldridge. I have a mortgage agreed with Aldermore. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should have one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Aldermore, you will need to appoint a solicitor on the Aldermore conveyancing panel.
I have a mortgage with Skipton for my property in Aldridge. Conveyancing has been completed months ago. If I am intending to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Skipton?
You must advise Skipton before letting out your property as this is likely to be a breach of Skipton’s mortgage conditions. It may be that Skipton will permit you to let out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Skipton directly. You need not do this via a Skipton conveyancing panel firm.
Completion of my remortgage has taken place for my property in Aldridge. Conveyancing was a necessary evil but I would like to complain about the lender. How does one go about formally complaining?
Almost all banks and building societies have complaints procedures. Your first point of contact should be one of the lender’s branches or the Customer Care Team at head office. Ordinarily complaints to a lender are resolved very quickly. If you feel the matter is not resolved you can write to Financial Ombudsman Service with full details of your complaint.
I've recently found out that there is a flying freehold issue on a house I have offered on a fortnight ago in what should have been a quick, no chain conveyancing. Aldridge is where the house is located. What do you suggest?
Flying freeholds in Aldridge are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Aldridge you would need to get your solicitor to go through the deeds very carefully. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Aldridge may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
I was pointed in your direction by three or four local estate agents in Aldridge to get a quote from a solicitor on your site. What’s the financial advantage for Estate Agents to offer your services rather than alternative conveyancing organisations?
We don’t make any commission for sending work to this site. We thought it would be too underhand to pay a commission as members of the public would think, ‘Why is the agent getting a kickback? Why am I not getting any benefit too?’ We would prefer to grow our business on genuine recommendations.
Am I better off to go with a Aldridge conveyancing solicitor who is local to the property I am hoping to buy? We have a good friend who can execute the legal work but his firm is located 300kilometers away.
The benefit of a local Aldridge conveyancing practice is that you can attend the office to execute paperwork, deliver your ID and pester them if necessary. Having local Aldridge know how is a benefit. That being said nothing is more important than finding someone that will pull out all the stops for you. If you know people who used your friend and in the main were content that should outweigh using an unfamiliar Aldridge conveyancing lawyer solely due to them being Aldridge based.
I have just started marketing my ground floor apartment in Aldridge. Conveyancing lawyers have not yet been instructed, however I have recently received a quarterly service charge invoice – should I leave it to the buyer to sort out?
The sensible thing to do is discharge the invoice as you normally would because all ground rent and service charges should be allotted on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most managing agents will not acknowledge the buyer unless the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.
I invested in buying a split level flat in Aldridge, conveyancing having been completed in 1997. How much will my lease extension cost? Corresponding properties in Aldridge with a long lease are worth £181,000. The ground rent is £55 charged once a year. The lease terminates on 21st October 2073
With 50 years unexpired the likely cost is going to range between £31,400 and £36,200 as well as costs.
The figure that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of comprehensive due diligence. Do not use the figures in tribunal or court proceedings. There are no doubt other issues that need to be considered and clearly you should be as accurate as possible in your negotiations. Neither should you move forward based on this information without first seeking the advice of a professional.