The Bude conveyancing lawyers that I appointed last week on my house acquisition in Bude have without warning closed. I only went with them because I needed a firm on the Principality conveyancing panel and my family Bude lawyer was not. I sent them a cheque for two hundred pounds in advance. What are my options?
Assuming that you have an Estate Agent in the equation then let them know straight away 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 should appoint new lawyers that are on the Principality 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 should be in a position to help.
I moved into my home on 3 February and the transaction details are still not on the land registry website. Any reason for this? My conveyancing solicitor in Bude advises it would be registered in less than a month. Are properties in Bude particularly slow to register?
As far as conveyancing in Bude is concerned, registration is no faster or slower than the rest of England and Wales. As opposed to being determined by geographic area, timeframes can vary according to the party submitting the application, whether it is in order and if the Land registry must send notices to any third parties. Currently in the region of three quarters of such applications are fully addressed within 12 days but occasionally there can be protracted delays. Historically registration occurs after the new owner has moved in to the property so an expedited registration is not always an essential issue but if it is urgent that the the registration takes place urgently then you or your conveyancer can communicate with the Registry to express the reasoning for an expedited registration.
I've recently found out that there is a flying freehold element on a property I put an offer in a fortnight ago in what should have been a straight forward, chain free conveyancing. Bude is where the house is located. Can you shed any light on this issue?
Flying freeholds in Bude are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Bude you must be sure that your lawyer goes through the deeds very carefully. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Bude may decide 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.
In my capacity as executor for the estate of my aunt I am selling a property in Monmouth but live in Bude. My solicitor (who is 250 kilometers awayhas requested that I execute a stat dec before the transaction finalising. Can you recommend a conveyancing practitioner in Bude who can attest this legal document for me?
Technically speaking you are unlikely to be required to have the documents attested by a conveyancing solicitor. Ordinarily or notary public or qualified solicitor will be fine regardless of whether they are Bude based
Having checked my lease I have discovered that there are only Seventy years remaining on my lease in Bude. I am keen to extend my lease but my landlord is absent. What should I do?
If you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for for permission to dispense with the service of the initial notice. This will mean that your lease can be granted an extra 90 years by the magistrate. However, you will be required to prove that you or your lawyers have done all that could be expected to track down the lessor. For most situations an enquiry agent would be helpful to try and locate and to produce a report which can be accepted by the court as proof that the freeholder can not be located. It is advisable to get professional help from a property lawyer both on investigating the landlord’s disappearance and the vesting order request to the County Court overseeing Bude.
I am the registered owner of a studio flat in Bude, conveyancing having been completed April 2002. Can you work out an approximate cost of a lease extension? Similar flats in Bude with over 90 years remaining are worth £197,000. The average or mid-range amount of ground rent is £55 charged once a year. The lease ceases on 21st October 2075
With only 55 years unexpired we estimate the premium for your lease extension to span between £31,400 and £36,200 plus 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 supply the actual costs without more detailed due diligence. Do not use this information in tribunal or court proceedings. There are no doubt other concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information without first getting professional advice.