Is it possible for conveyancing in Clifton to be concluded in less than 10 days?
Where the seller is applying time constraints for your conveyancing it is highly recommended that your conveyancer is familiar with the location as they will make use of local connections and intelligence. It is even conceivable that they may have transacted previoushomes in the same road. Therefore consider using a Clifton conveyancing lawyer. Second, check that the lawyer is on the lender panel. It is claimed that nearly one in five of Clifton conveyancing deals are frustrated or jeopardised after discovering a purchaser’s lawyer was not on their banks list of approved solicitors. This can often result in the legal process being frustrated by as much as three weeks. It is claimed that this issue affects approximately 100,000 home moves every year. Almost all Clifton conveyancing firms can not act for certain lenders so do check as early as possible.
Why is leasehold purchase conveyancing in Clifton is more expensive?
Clifton leasehold properties involve far more paperwork than a freehold purchase, and therefore takes more time to examine and advise upon.Conveyancing will involve the lease having to be checked which is usually a lengthy document, queries raised to ensure that the covenants and conditions have been observed. If it is a flat there will be a management company in existence and the accounts of this will need to be checked and enquiries raised to ensure it is operating efficiently and that all monies due have been paid by the Seller to the company and if not ensuring that money is paid up to date or the appropriate undertakings obtained.
My grandfather passed away six months ago and as sole heir and executor I was left the property in Clifton. The house had a small mortgage left on it of around £4500. I want to transfer the title deeds into my name whilst I re-mortgage to Skipton, pay off the mortgage. Is this possible?
If you intend to re-mortgage then Skipton will require that you use a conveyancer on the Skipton conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Skipton conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Skipton mortgage is registered as a charge at the Land Registry.
I have been told that property searches are the number one reason for delay in Clifton conveyancing transactions. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) published conclusions of research by MoveWithUs that conveyancing searches do not feature within the top 10 causes of hindrances in the conveyancing process. Local searches are not likely to be the root cause of holding up conveyancing in Clifton.
I own a leasehold house in Clifton. Conveyancing and Birmingham Midshires mortgage organised. I have received a letter from someone saying they have taken over the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1995. The conveyancing practitioner in Clifton who acted for me is not around. What should I do?
The first thing you should do is make enquiries of the Land Registry to make sure that this person is indeed the registered owner of the freehold reversion. There is no need to instruct a Clifton conveyancing firm to do this as you can do this on the Land Registry website for £3. Rest assured that in any event, even if this is the legitimate freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I own a basement flat in Clifton, conveyancing was carried out half a dozen years ago. Can you give me give me an indication of the likely cost of a lease extension? Similar flats in Clifton with an extended lease are worth £206,000. The average or mid-range amount of ground rent is £45 yearly. The lease terminates on 21st October 2090
With 66 years remaining on your lease we estimate the premium for your lease extension to span between £11,400 and £13,200 plus costs.
The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you the actual costs without more detailed due diligence. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. Please do not take any other action based on this information without first getting professional advice.