My fiancee and I are acquiring our first property. The lawyer has messagedto check if we want to take out supplemental conveyancing searches. Unfortunately we have no idea as to what's recommended for conveyancing in Blackpool
The type of Blackpool conveyancing searches depends primarily on the property, the location, the possibility of any of these risks, your knowledge of the locality and risks, your overall attitude to risk. What is important is that you adequately appreciate what information the searches could give you. Then you can decide if you personally think you need that search. Where you are uncertain, ask the property lawyer to explain.
The Blackpool conveyancing solicitors that I recently instructed on my purchase in Blackpool have without warning shut down. They were on acting for me because I had to have a solicitor on the Kent Reliance conveyancing panel and my family Blackpool lawyer was not. I gave my credit card details for them to take £195 for searches. What are my options?
If you have an estate agent involved then inform them immediately so that they can let the sellers know that there may be a slight delay due to reasons beyond your control. Hopefully they will be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You will need to appoint new lawyers that are on the Kent Reliance conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new lawyers may be able to help.
Me and my brother have a terraced Edwardian house in Blackpool. Conveyancing practitioner acted for me and The Mortgage Works. I did a free Land Registry search last week and I saw two entries: one for freehold, another for leasehold under the exact same address. I'd like to know for sure, how can I find out??
You should read the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Blackpool and other locations in the country and poses no real issues for owners other than when they sell they have to account for both freehold and leasehold interests when dealing with purchasers. You can also question the position with your conveyancing lawyer who completed the work.
How does conveyancing in Blackpool differ for new build properties?
Most buyers of new build or newly converted property in Blackpool contact us having been asked by the developer to exchange contracts and commit to the purchase even before the residence is constructed. This is because builders in Blackpool typically buy 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 Blackpool or who has acted in the same development.
Can you provide any top tips for leasehold conveyancing in Blackpool from the perspective of speeding up the sale process?
- Much of the frustration in leasehold conveyancing in Blackpool can be reduced where you instruct lawyers the minute you market your property and ask them to collate the leasehold information needed by the buyers’ lawyers. In the event that you altered the property did you need the Landlord’s approval? Have you, for example installed wooden flooring? Blackpool leases often stipulate that internal structural alterations or installing wooden flooring necessitate a licence issued by the Landlord consenting to such works. Should you fail to have the consents to hand you should not contact the landlord without checking with your lawyer first. The majority of freeholders or managing agents in Blackpool levy fees for supplying management packs for a leasehold premises. You or your lawyers should find out the actual amount of the charges. The management information can be applied for as soon as you have a buyer, thus reducing delays. The average time it takes to obtain the necessary information is three weeks. It is the most frequent cause of delay in leasehold conveyancing in Blackpool. If you hold a share in a the freehold, you should ensure that you are holding the original share document. Obtaining a duplicate share certificate can be a time consuming process and frustrates many a Blackpool home move. Where a duplicate share certificate is necessary, do contact the company officers or managing agents (if relevant) for this sooner rather than later.
I acquired a basement flat in Blackpool, conveyancing having been completed 7 years ago. How much will my lease extension cost? Corresponding properties in Blackpool with an extended lease are worth £190,000. The average or mid-range amount of ground rent is £65 yearly. The lease ceases on 21st October 2080
You have 61 years remaining on your lease we estimate the price of your lease extension to be between £19,000 and £22,000 plus legals.
The suggested premium range above a general guide to costs for extending a lease, but we are not able to advice on the actual costs in the absence of detailed due diligence. Do not use this information in tribunal or court proceedings. There are no doubt other concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. You should not move forward placing reliance on this information before seeking the advice of a professional.