I am obtaining a mortgage with Santander. My intention is to retain the legal services of a Licensed Conveyancer in Flintshire. Does the Santander Conveyancing panel include Licensed Conveyancers?
The Santander conveyancing panel is, like many other lenders, associated to the Council or Mortgage Lenders or Building Society Association, open to Licensed Conveyancers regulated by the Council of Licensed Conveyancers.
The owners of the house we are hoping to buy hired a conveyancing solicitor in Flintshire who has insisted on a preliminary agreement with a payment 10k. Is it wise to enter into such agreements?
There are two primary drawbacks with signing a lock out contract (sometimes known as a no-shop agreement) is that it can distract from making progress with the conveyancing process, so in the absence of it needing little or no negotiation then it could turn out to be a cause of frustration and delay. It is not strongly advocated by Flintshire conveyancing practitioners as a result. The other main issue is the extent of the remedies available - a jilted buyer should not expect to win injunctive relief to prevent the seller selling to a third party, so the only remedy open via the contract will be the reimbursement of abortive costs and, in rare circumstances, the additional payment of penalties.
I have been on the look out for a ground for flat up to £305k and identified one near me in Flintshire I like with open areas and transport links in the vicinity, however it's only got 52 years on the lease. There is not much else in Flintshire for this price, so just wondered if I would be making a grave error purchasing a short lease?
If you need a mortgage the remaining unexpired lease term may be an issue. Reduce the price by the anticipated lease extension will cost if it has not already been discounted. If the existing proprietor has owned the property for at least twenty four months you may request that they commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the existing lease and have £0 ground rent by law. You should consult your conveyancing lawyer regarding this.
As co-executor for the will of my grandmother I am selling a house in Neath but I am based in Flintshire. My conveyancer (approximately 250 miles from mehas requested that I sign a statutory declaration before the transaction finalising. Can you recommend a conveyancing practitioner in Flintshire who can attest this legal document for me?
Technically speaking you should not need to have the documents witnessed by a conveyancing solicitor. Ordinarily or notary public or solicitor will be fine regardless of whether they are Flintshire based
I work for a busy estate agent office in Flintshire where we have witnessed a few flat sales jeopardised as a result of short leases. I have been given conflicting advice from local Flintshire conveyancing solicitors. Please can you confirm whether the owner of a flat can commence the lease extension process for the purchaser on completion of the sale?
As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is 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 has to be done prior to, or simultaneously with 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 own a garden flat in Flintshire, conveyancing having been completed February 1997. Can you work out an approximate cost of a lease extension? Similar flats in Flintshire with a long lease are worth £222,000. The ground rent is £50 invoiced every year. The lease ceases on 21st October 2088
With just 70 years unexpired we estimate the price of your lease extension to range between £9,500 and £11,000 as well as plus your own and the landlord's "reasonable" professional fees.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to advice on a more accurate figure in the absence of detailed due diligence. Do not use this information in tribunal or court proceedings. 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. Neither should you take any other action placing reliance on this information before seeking the advice of a professional.