We're in Bournville, FTBs purchasing with a mortgage (lender is RBS , and our lawyer is on the RBS conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the RBS conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no conveyancer should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
Forgive me if this question is silly but I am unexperienced as a 1st time buyer of a ground floor flat in Bournville. Do I pick up the keys to the house on completion from my lawyer? If so, I will instruct a local conveyancing solicitor in Bournville?
On the day of completion you do not need to go to the conveyancers office in Bournville. Your solicitors will arrange to send the completion advance to the vendor’s solicitors, and once they have received this, you should be called to pick up the keys from the property Agents and move into your new home. This tends to happen between 1 and 3pm.
My partner and I have organised the release of further monies on our home loan from UBS as we intend to carry out renovations to our house in Bournville. Do we need to choose a local Bournville solicitor on the UBS conveyancing panel to deal with the paperwork?
UBS would not normally appoint a member of their conveyancing panel to handle the formalities. If they do require any legal work then you would need to ensure that such a lawyer was on the UBS panel.
Having read lots of mortgage guides, I note that it is considered advisable to get your house surveyed prior to buying it. When I asked my local Bournville solicitor - who is on the Barclays conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. is that correct?
Barclays will need an independent valuation of the property. Your lawyer will not arrange this. Usually Barclays will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. You may wish to consider appointing your own Bournville surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
Yesterday I discovered that there is a flying freehold element on a house I have offered on two weeks back in what should have been a quick, chain free conveyancing. Bournville is where the house is located. What do you suggest?
Flying freeholds in Bournville are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Bournville 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 Bournville may ascertain 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 property.
We expect to complete the sale of our £300,000 flat in Bournville next Tuesday. The freeholder has quoted £312 for Landlord’s certificate, insurance certificate and 3 years statements of service charge. Is it legal for a freeholder to charge such fees for a leasehold conveyance in Bournville?
Bournville conveyancing on leasehold maisonettes often requires the purchaser’s solicitor submitting enquiries for the landlord to answer. Although the landlord is under no legal obligation to answer these enquiries the majority will be content to assist. They are entitled to charge a reasonable administration fee for responding to enquiries or supplying documentation. There is no set fee. The average fee for the paperwork that you are referring to is over three hundred pounds, in some transactions it is in excess of £800. The administration charge levied by the landlord must be sent together with a synopsis of entitlements and obligations in relation to administration fees, otherwise the invoice is not strictly payable. Reality however dictates that you have little choice but to pay whatever is demanded if you want to complete the sale of your home.
I bought a studio flat in Bournville, conveyancing having been completed 7 years ago. Can you please calculate a probable premium for a statutory lease extension? Corresponding flats in Bournville with over 90 years remaining are worth £216,000. The ground rent is £50 yearly. The lease runs out on 21st October 2088
With only 69 years unexpired we estimate the price of your lease extension to range between £9,500 and £11,000 as well as professional fees.
The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs in the absence of detailed due diligence. Do not use the figures in tribunal or court proceedings. There are no doubt additional concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information without first getting professional advice.
What is the reason for my solicitor requiring numerous items of ID before they can proceed with my conveyancing in Bournville?
Bournville conveyancing practitioners are required by the Law Society, SRA, HMLR and current Money Laundering Regulations to certify that the have verified the identity of their clients. It will also be a condition of your mortgage offer. In addition they have to complete various forms, particularly those relating to Land Tax and need to have details such as your full names, national insurance number and date of birth.