I was informed today by my broker that my Baguley property lawyer is not on the bank Solicitor panel. How can I check?
The first thing you need to do is to contact your Baguley lawyer directly. It is reasonable to expect your lawyer to advise you of the situation. Where they are not on the panel they may recommend you to a Baguley conveyancing practice that is on the approved list of lawyers for your lender.
The Baguley conveyancing firm handling our Baguley conveyancing has spotted a difference between the surveyor’s assumptions in the valuation survey and what is in the title deeds. My solicitor has advised that he needs to check that the lender is happy with this discrepancy and is still content to lend. Is my solicitor’s stance correct?
Your conveyancer must comply with the UK Finance Lenders’ Handbook provisions which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.
Can you explain why leasehold purchase conveyancing in Baguley costs more?
The conveyancing fees on a leasehold property in Baguley is frequently more expensive than on a freehold property. This is due to the supplemental work necessary in corresponding with the freeholder and managing agents to collate the evidence concerning whether the rent and service fee have been cleared and whether there are any significant expenditure in the foreseeable future on repairs or maintenance of the block.
I was pointed in your direction by a few estate agents in Baguley to locate a conveyancer using your seach tool. What’s the financial advantage for Estate Agents to promote your site ahead of a competitor’s?
We don’t offer any referral fee for directing people in our direction. We thought it would be too underhand a fee as home movers will think, ‘Why is the agent getting a kickback? Why aren’t I receiving any benefit too?’ So we decided to step away from that.
Back In 2009, I bought a leasehold house in Baguley. Conveyancing and The Royal Bank of Scotland mortgage went though with no issue. I have received a letter from someone saying they have taken over the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1991. The conveyancing practitioner in Baguley who acted for me is not around. Any advice?
First make enquiries of HMLR to make sure that this person is in fact the new freeholder. You do not need to instruct a Baguley conveyancing practitioner to do this as it can be done on-line for a few pound. You should note that regardless, even if this is the legitimate landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I inherited a leasehold flat in Baguley, conveyancing formalities finalised in 2007. How much will my lease extension cost? Equivalent flats in Baguley with over 90 years remaining are worth £190,000. The ground rent is £45 invoiced annually. The lease comes to an end on 21st October 2081
With only 62 years left to run we estimate the price of your lease extension to range between £17,100 and £19,800 as well as plus your own and the landlord's "reasonable" professional fees.
The suggested premium range above a general guide to costs for renewing a lease, but we are not able to provide a more accurate figure in the absence of 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 considered and you obviously want to be as accurate as possible in your negotiations. Please do not take any other action based on this information without first getting professional advice.