My wife and I are planning to purchase a property in Bewdley and are in fact using a Bewdley conveyancing practice. Within the last couple of days our property lawyer has forwarded the sale agreement to be signed with a detailed report with the expectation that exchange is imminent. Bank of Ireland have this morning contacted us to inform me that they have now hit a problem as our Bewdley lawyer is not on their approved list of lawyers. Is this a problem?
Where you are buying a property needing a mortgage it is standard for the purchasers' solicitors to also represent the purchaser's lender. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Accreditation Scheme. Your property lawyer should contact your lender and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own lawyers to represent them. You don't have to instruct a firm on the bank's conveyancing panel and you may continue to use your own Bewdley solicitors, in which case it will likely add costs, and it may delay matters as you have another set of people involved.
We are planning to acquire a property and require a conveyancing solicitor in Bewdley who is on the Clydesdale approved panel. Can you recommend a local 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 Clydesdale . We don't recommend any particular firms conducting conveyancing in Bewdley.
I am planning to acquire a flat and need a conveyancing solicitor in Bewdley who is on the Britannia solicitor. Could you point me in the right direction as regards a solicitor?
Our service is limited to being a directory service for firms who wish to listed as being on the approved conveyancing panel for Britannia in certain locations such as Bewdley. We dont recommend any particular firm.
Yesterday I discovered that there is a flying freehold issue on a property I have offered on a fortnight ago in what should have been a simple, chain free conveyancing. Bewdley is the location of the property. Is there any advice you can impart?
Flying freeholds in Bewdley are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Bewdley you would need to get your solicitor to go through the deeds thoroughly. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Bewdley 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 premises.
Having had my offer accepted I require leasehold conveyancing in Bewdley. Before diving in I want to be sure as to the number of years remaining on the lease.
Assuming the lease is registered - and almost all are in Bewdley - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
I invested in buying a leasehold flat in Bewdley, conveyancing having been completed July 2002. Can you shed any light on how much the price could be for a 90 year extension to my lease? Similar properties in Bewdley with an extended lease are worth £265,000. The average or mid-range amount of ground rent is £50 yearly. The lease finishes on 21st October 2099
You have 75 years left to run we estimate the premium for your lease extension to range between £8,600 and £9,800 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 cannot give you the actual costs in the absence of comprehensive investigations. Do not use the figures in tribunal or court proceedings. There may be other issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information before getting professional advice.