I am expecting a offer of a home loan from Halifax. I intend to enlist the help of a Licensed Conveyancer in Browns Green. Does the Halifax Conveyancing panel include conveyancers regulated by the CLC?
The Halifax conveyancing panel is, like many other lenders, associated to the Council or Mortgage Lenders or BSA, open to Licensed Conveyancers regulated by the Council of Licensed Conveyancers.
My flat in Browns Green is up for sale and I have a buyer. Does my conveyancer need to be required to be on the Coventry BS conveyancing panel in order to deal with paying off my mortgage?
Ordinarily, even if your lawyer is not on the Coventry BS conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their panel criteria fairly frequently in recent years.
I used Action Conveyancing a few years past for my conveyancing in Browns Green. Now, I need the files however the law firm is no longer operating. What do I do?
You should call the Solicitors Regulatory Authority (SRA) to help locate your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Browns Green of the conveyancing firm of solicitors you previously hired, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
Due to sign contracts shortly on a basement flat in Browns Green. Conveyancing lawyers assured me that they will have a report out to me next week. Are there areas in the report that I should be focusing on?
The report on title for your leasehold conveyancing in Browns Green should include some of the following:
Your conveyancers should enable you to have an understanding of the building insurance obligations You should be advised what constitutes a Nuisance in the lease Information as to the provision as set out in the lease to to contribute towards maintenance costs - with regard to both the building, and the wider rights a lessee enjoys Setting out your legal entitlements in respect of the communal areas in the block.For instance, does the lease contain a right of way over a path or staircase?
I purchased a 1 bedroom flat in Browns Green, conveyancing formalities finalised half a dozen years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Comparable properties in Browns Green with an extended lease are worth £216,000. The ground rent is £50 invoiced every year. The lease ceases on 21st October 2091
With just 70 years left to run we estimate the premium for your lease extension to be between £9,500 and £11,000 plus legals.
The figure above a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more detailed due diligence. Do not use this information in tribunal or court proceedings. There may be additional issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. You should not move forward placing reliance on this information without first getting professional advice.
We own a leasehold flat in Browns Green. Conveyancing was finished in five years ago. I have been told that I mustn’t allow the lease length fall too low. What is the reasoning?
Browns Green residential long term leases are for a fixed period - usually 99 years when they started. However a significant flats in Browns Green were constructed or converted 35 or more years ago and so such leases now have under 80 years remaining. That may sound like a long time however Banks, Building Societies and other mortgage institutions generally require leases to have at least 75 years unexpired to adequate security. Accordingly when you come to sell the property you will need a lease extension if you are getting close to eighty years. To optimize the saleability of your property you should be considering whether or not to extend your lease well in advance of selling the property. There are also strong financial reasons to doing so before the lease hits eighty years as when the lease falls below 80 years the amount to be paid to extend starts to escalate.