Our conveyancer has uncovered a a problem with the lease for the apartment we are buying in Castle Bromwich. The other side have offered defective title insurance as a solution. We are content with insurance and will cover the costs. Our conveyancer says that he must check that the mortgage company is happy with this solution. Who is the client here, us or the lender?
The short answer to your last question is that, notwithstanding the risk of a conflict of interest, you and the bank are the client. Your property lawyer must comply with the UK Finance Lenders’ Handbook provisions. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects with the lease so that the lender can be afforded the opportunity to check with their valuer as to the extent that the value of the property is affected. Should you refuse to allow your lawyer to make the appropriate notification then your property lawyer will have no choice but to discontinue acting for you.
I am purchasing a flat and need a conveyancing solicitor in Castle Bromwich who is on the Nottingham Building Society conveyancing. Could you point me in the right direction as regards a firm?
Our service is limited to being a directory service for firms who wish to listed as being on the approved conveyancing panel for Nottingham Building Society in certain locations such as Castle Bromwich. We dont recommend any particular firm.
What is the difference between a licensed conveyancer and conveyancing solicitor in Castle Bromwich
There are many registered licenced Conveyancers in Castle Bromwich and Solicitor partnerships in Castle Bromwich who can assist with your conveyancing It is important to make clear that the two are supervised by regulatory bodies with both specialising in the legal aspects of the home buying process. They may both also handle other property legal work such as remortgage conveyancing, lease extensions and transfer of equity conveyancing.
We are buying a 3 bedroom semi in Castle Bromwich. The intention is to carry out a loft conversion at the house.Will the conveyancing process involve checks to see if these works are allowed?
Your conveyancer will check the registered title as conveyancing in Castle Bromwich can occasionally identify restrictions in the title documents which prohibit categories of works or need the consent of a 3rd party. Some extensions call for local authority planning permissions and approval under the building regulations. Some areas are designated conservation areas and special planning restrictions apply which often prevent or impact extensions. It would be sensible to check these things with a surveyor before you commit yourself to a purchase.
How can we tell if a Castle Bromwich conveyancing solicitor on the Santander panel is any good?
When it comes to conveyancing in Castle Bromwich obtaining recommendations is a good start. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one which is cheap as chips. We would always advocate that you speak with the lawyer carrying out your transaction.
How do I use your search app to select a conveyancing solicitor in Castle Bromwich on the authorised to act for my lender?
First choose a lender such as Santander, Norwich and Peterborough Building Society or Godiva Mortgages Ltd then choose your location for instance Castle Bromwich. Conveyancing practices in Castle Bromwich and nationally will then be shown.
I am looking at a two flats in Castle Bromwich both have about fifty years unexpired on the lease term. Should I regard a short lease as a deal breaker?
There are plenty of short leases in Castle Bromwich. The lease is a right to use the premises for a prescribed time frame. As a lease gets shorter the marketability of the lease decreases and results in it becoming more costly to acquire a lease extension. For this reason it is often a good idea to increase the term of the lease. Sometimes it is difficulties arise selling premises with a short lease as mortgage lenders may be unwilling to lend money on properties of this type. Lease extension can be a protracted process. We advise that you seek professional assistance from a solicitor and surveyor with experience in this arena.
I own a leasehold flat in Castle Bromwich, conveyancing was carried out 9 years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Equivalent flats in Castle Bromwich with an extended lease are worth £186,000. The average or mid-range amount of ground rent is £55 levied per year. The lease ends on 21st October 2073
With just 53 years remaining on your lease we estimate the price of your lease extension to span between £27,600 and £31,800 as well as legals.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we are not able to advice on a more accurate figure without more detailed due diligence. Do not use this information in a Notice of Claim or as an informal offer. There may be other issues that need to be considered and clearly you should be as accurate as possible in your negotiations. Neither should you take any other action based on this information before seeking the advice of a professional.