Various online forums that I have come across warn that are the number one reason for hinderance in Dosthill house deals. Is this right?
The Council of Property Search Organisations (CoPSO) released conclusions of a review by MoveWithUs that conveyancing searches do not feature amongst the most frequent causes of hindrances during the legal transfer of property. Local searches are not likely to be the root cause of delay in conveyancing in Dosthill.
I've recently found out that there is a flying freehold element on a house I have offered on a fortnight ago in what should have been a straight forward, chain free conveyancing. Dosthill is where the house is located. Is there any guidance you can impart?
Flying freeholds in Dosthill are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Dosthill you must be sure that your lawyer goes through the deeds diligently. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Dosthill may determine 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 residence.
I am selling my home. My past solicitors has retired. I would be grateful for any recommendation of a conveyancing firm. I happen to live in Dosthill if that makes things easier.
Do use our search tool to help you choose a solicitor for your conveyancing in Dosthill. We have connected thousands of home buyers and sellers with lender approved solicitors to ensure that the legalities of their house move goes smoothly.
I work for a long established estate agent office in Dosthill where we have witnessed a few flat sales put at risk due to leases having less than 80 years remaining. I have been given inconsistent advice from local Dosthill conveyancing solicitors. Can you shed some light as to whether the vendor of a flat can start the lease extension formalities for the purchaser on completion of the sale?
Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer can avoid having to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or at the same time as completion of the sale.
An alternative approach is to agree the lease extension with the freeholder 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 acquired a leasehold flat in Dosthill, conveyancing formalities finalised in 1999. Can you give me give me an indication of the likely cost of a lease extension? Equivalent flats in Dosthill with a long lease are worth £185,000. The average or mid-range amount of ground rent is £65 charged once a year. The lease expires on 21st October 2080
With only 61 years remaining on your lease we estimate the premium for your lease extension to be between £19,000 and £22,000 plus legals.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to provide a more accurate figure in the absence of comprehensive investigations. You should not use the figures in a Notice of Claim or as an informal offer. There may be other issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. Neither should you move forward based on this information before getting professional advice.
My fiance and I are hoping to buy a four room maisonettein Dosthill with a loan from a bank. We like our conveyancer in Dosthill however our bank says he's not approved on their "panel". We have to appoint one of the our lender panel solicitors or keep our Dosthill conveyancer and incur the extra costs for one of their panel ones to represent our lender. We feel as though this is unjust; is there anything we can do?
Unfortunately,no. The lender home loan issued is subject to conditions, one of which will be that lawyers will on the mortgage company's conveyancing panel. in the past, most banks had open panels, including most conveyancing solicitors in Dosthill : a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your solicitors to apply to be on the conveyancing panel for your bank.