My husband and I are purchasing a brand new apartment in Connahs Quay and my conveyancer is advising me that she has to the lender to disclose incentives from the developer. I am nearing the developer’s deadline to exchange contracts and I have no desire to delay matters. Is my lawyer right?
You should not exchange unless you have been advised to do so by your conveyancer. A precondition to being on a bank panel is to comply with the UK Finance Lenders’ Handbook provisions. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
Is it possible to change firm as I have to appoint a firm on the Coventry Building Society conveyancing list. I was using a high street conveyancing solicitor in Connahs Quay five minutes from me but he is not accepted by Coventry Building Society
It would be our pleasure to help you select a conveyancing solicitor in Connahs Quay on the Coventry Building Society panel. Please note that the property lawyers that we list do not pay us commission if you instruct them and are regulated by the SRA who regulate all conveyancing solicitors in Connahs Quay. In utilising the find a conveyancing solicitor tool on this site, you can compare and instruct different solicitors and conveyancers both nationally and in Connahs Quay.
We're new to the buying process - had an offer accepted, but the property agent informed us that the vendor will only proceed if we use the agent's recommended solicitors as they need a ‘quick sale’. We would rather use a local conveyancer who is accustomed to conveyancing in Connahs Quay
It is unlikely the vendors are behind this. If they want ‘a quick sale', taking such a hostile approach to a motivated purchaser is likely to cause more damage than good. Try to communicate with the owners directly and make sure they comprehend that (a)you are serious buyers (b)you are ready to progress, with finances in place © you do not need to sell (d) you intend to proceed fast (e)but you will continue to use your preferred Connahs Quay conveyancing lawyers - not the ones that will earn the negotiator at the agency a referral fee or meet his conveyancing figures demanded by senior management.
I am a negotiator for a long established estate agent office in Connahs Quay where we have experienced a few leasehold sales put at risk due to leases having less than 80 years remaining. I have received inconsistent advice from local Connahs Quay conveyancing firms. Can you clarify whether the owner of a flat can instigate the lease extension formalities for the buyer?
As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer need not have to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or at the same time as completion of the disposal of the property.
Alternatively, it may be possible to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.
I am the registered owner of a studio flat in Connahs Quay, conveyancing was carried out February 2012. Can you let me have an estimated range of the fair premium for a lease extension? Similar properties in Connahs Quay with an extended lease are worth £216,000. The average or mid-range amount of ground rent is £50 invoiced annually. The lease runs out on 21st October 2089
You have 69 years left to run we estimate the premium for your lease extension to range between £9,500 and £11,000 plus costs.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs without more comprehensive investigations. Do not use the figures in a Notice of Claim or as an informal offer. There may be other concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. You should not take any other action based on this information before seeking the advice of a professional.
Please set examples of distinct advantages to using a high street property lawyer in Connahs Quay
Lots of house movers in Connahs Quay decide on using a nearby high street conveyancing practitioner so that they can visit just in case they have problems, and to collect mortgage deeds rather than run the risk of relying on the post.
There is a slight edge when selecting a conveyancer local to the house you are hoping to purchase, due to the in-depth knowledge of the region and possible local concerns - but this is debatable. Many conveyancers are now over the internet and may be anywhere in the world.