The Great Barr conveyancing lawyers that I appointed last week on my house acquisition in Great Barr have without warning closed. I chose them because I needed a lawyer on the UBS conveyancing panel and my previous Great Barr lawyer was not. I paid them £170 in advance. What should be my next steps?
If you have an estate agent involved then inform them straight away so that they advise the vendors that there may be a slight delay due to reasons beyond your control. Most sellers would be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You will need to appoint new lawyers that are on the UBS conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new lawyers may be able to assist.
I am purchasing a new build house in Great Barr with a mortgage from Chelsea Building Society. The developers would not move on the price so I negotiated five thousand pounds worth of additionals instead. The property agent suggested that I not disclose to my lawyer about this extras as it will put at risk my loan with Chelsea Building Society. Is this normal?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I've recently found out that there is a flying freehold element on a house I have offered on two weeks back in what should have been a quick, no chain conveyancing. Great Barr is the location of the property. Can you offer any advice?
Flying freeholds in Great Barr are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Great Barr you would need to get your solicitor to go through the deeds very carefully. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Great Barr may decide 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 property.
Back In 2001, I bought a leasehold flat in Great Barr. Conveyancing and Yorkshire Building Society mortgage organised. A letter has just been received 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 1998. The conveyancing practitioner in Great Barr who previously acted has now retired. Any advice?
First contact HMLR to make sure that this person is indeed the registered owner of the freehold reversion. You do not need to incur the fees of a Great Barr conveyancing practitioner to do this as you can do this on the Land Registry website for a few pound. You should note 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 inherited a garden flat in Great Barr, conveyancing having been completed in 1996. Can you let me have an estimated range of the fair premium for a lease extension? Similar flats in Great Barr with an extended lease are worth £211,000. The average or mid-range amount of ground rent is £45 levied per year. The lease ends on 21st October 2088
With only 67 years remaining on your lease we estimate the premium for your lease extension to span between £10,500 and £12,000 plus legals.
The suggested premium range above a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more comprehensive investigations. Do not use the figures in tribunal or court proceedings. There may be additional issues 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 without first seeking the advice of a professional.
What advice do you have for searching for cost effective conveyancing in Great Barr?
First ask your friends and family who they used in the past and if they were happy with the service. Option 2 is to search the internet for conveyancing in Great Barr. Phone two or three from the list and request that they send you their conveyancing estimate and speak to the lawyer who will handle your conveyancing before you commit. Option 3 is to use our search tool to help you find the right solicitors for you based on your unique requirements including location,speed, complexity and who the proposed lender is.Do not be fooled by £99 conveyancing solicitors in Great Barr