We are selling our home in Clun. Will the conveyancer have to be required to be on the HSBC conveyancing panel in order to deal with repayment of my mortgage?
Ordinarily, even if your lawyer is not on the HSBC 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 specifications fairly frequently at the moment.
My wife and I own a terraced Victorian house in Clun. Conveyancing solicitor represented me and Barnsley Building Society. I did a free Land Registry search last week and there are two entries: the first freehold, another for leasehold under the matching property. Is it worth asking Barnsley Building Society to clarify?
You should review the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Clun and other areas of the country and poses no real issues for owners other than when they buy they have to account for both freehold and leasehold interests when dealing with buyers. You can also check the position with your conveyancing practitioner who carried out the work.
Just had an offer accepted on a new build flat in Clun. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.
Set out below are examples of a few leasehold new build questions that you should expect your new-build leasehold conveyancing in Clun
Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? Please supply a car parking plan.
We're FTB’s - agreed a price, yet the property agent advised that the seller will only go ahead if we appoint the agent's chosen lawyers as they want a ‘quick sale’. My instinct tells me that we should use a high street conveyancer used to conveyancing in Clun
We suspect that the seller is unaware of this requirement. Should the owner want ‘a quick sale', taking such a hostile approach to a motivated purchaser is not the way to achieve this. Bypass the agents and go straight to the sellers and make sure they understand (a)you are motivated purchasers (b)you are ready to go, with finances arranged © you have nothing to sell (d) you wish to move quickly (e)but you are going to instruct your own,trusted Clun conveyancing solicitors - rather thanthose that will provide the negotiator at the agency a commission or hit his conveyancing figures pre-set by corporate headquarters.
I am looking at a couple of apartments in Clun which have approximately 50 years unexpired on the leases. Should I regard a short lease as a deal breaker?
There are plenty of short leases in Clun. The lease is a legal document that entitles you 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 extend the lease. 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 because mortgage lenders may be unwilling to lend money on such properties. Lease extension can be a difficult process. We advise that you get professional assistance from a conveyancer and surveyor with experience in this arena.
I invested in buying a studio flat in Clun, conveyancing formalities finalised 10 years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Comparable flats in Clun with an extended lease are worth £180,000. The average or mid-range amount of ground rent is £65 charged once a year. The lease runs out on 21st October 2078
With 59 years remaining on your lease the likely cost is going to range between £20,900 and £24,200 plus plus your own and the landlord's "reasonable" professional fees.
The figure above a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of comprehensive investigations. Do not use this information in tribunal or court proceedings. There may be other issues 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 seeking the advice of a professional.