I am under pressure from the mortgagee in possession of a property in Hawarden to complete within four weeks. What can I do to speed up matters?
In the event that you are under pressure for your conveyancing we would recommend that your conveyancer is familiar with the area as they will make use of local contacts and knowledge. It is possible that they may have handled previousproperties in the same neighbourhood. Therefore consider using a Hawarden conveyancing solicitor. In addition, double check that the lawyer is on the on the approved list for your mortgage company. It is said that nearly one in five of Hawarden conveyancing deals are frustrated or jeopardised after finding out that a purchaser’s conveyancer was not on their mortgage lender’s list of approved solicitors. In many cases this discovery resulted in the legal transfer of property being held up by almost 21 days. It is understood that this issue affects in the region of one hundred thousand home moves annually. Many Hawarden conveyancing firms can not act for certain banks so do check as early as possible.
Should my lawyer be making enquiries concerning flooding during the conveyancing in Hawarden.
Flooding is a growing risk for lawyers conducting conveyancing in Hawarden. There are those who purchase a house in Hawarden, fully expectant that at some time, it may suffer from flooding. However, aside from the physical damage, where a property is at risk of flooding, it may be difficult to get a mortgage, adequate insurance cover, or dispose of the property. Steps can be carried out as part of the conveyancing process to forewarn the buyer.
Lawyers are not best placed to impart advice on flood risk, however there are a number of checks that may be carried out by the buyer or on a buyer’s behalf which should figure out the risks in Hawarden. The conventional set of completed inquiry forms sent to a purchaser’s solicitor (where the Conveyancing Protocol is adopted) incorporates a usual question of the vendor to discover if the premises has ever been flooded. If flooding has previously occurred which is not disclosed by the seller, then a purchaser may issue a legal claim for losses as a result of such an inaccurate response. The buyer’s solicitors will also conduct an environmental report. This will disclose whether there is a recorded flood risk. If so, additional inquiries will need to be carried out.
Yesterday I discovered that there is a flying freehold element on a property I have offered on two weeks back in what was supposed to be a quick, no chain conveyancing. Hawarden is the location of the property. Can you offer any assistance?
Flying freeholds in Hawarden are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Hawarden 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 Hawarden 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.
Do you have any advice for leasehold conveyancing in Hawarden with the purpose of saving time on the sale process?
- A significant proportion of the frustration in leasehold conveyancing in Hawarden can be avoided where you appoint lawyers as soon as you market your property and ask them to put together the leasehold documentation which will be required by the buyers’ lawyers. Some Hawarden leases require Licence to Assign from the landlord. If this applies to your lease, it would be prudent to notify your estate agents to make sure that the purchasers put in hand bank and professional references. Any bank reference should make it clear that the buyer is able to meet the annual service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the actual amount of the service charge so that they can pass this information on to the purchasers or their solicitors. If you have carried out any alterations to the property would they have required Landlord’s consent? In particular have you laid down wooden flooring? Hawarden leases often stipulate that internal structural alterations or addition of wooden flooring require a licence from the Landlord acquiescing to such works. Should you fail to have the approvals in place you should not communicate with the landlord without checking with your solicitor first. If there is a history of any disputes with your landlord or managing agents it is essential that these are resolved prior to the flat being marketed. The purchasers and their solicitors will be nervous about purchasing a property where a dispute is ongoing. You may need to swallow your pride and pay any arrears of service charge or settle the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose particulars of the dispute to the buyers, but it is better to present the dispute as over rather than ongoing.
I own a split level flat in Hawarden, conveyancing was carried out December 2008. Can you let me have an estimated range of the fair premium for a lease extension? Similar flats in Hawarden with a long lease are worth £222,000. The ground rent is £50 invoiced every year. The lease ceases on 21st October 2089
With 70 years left to run we estimate the premium for your lease extension to be between £9,500 and £11,000 as well as plus your own and the landlord's "reasonable" professional fees.
The suggested premium range above a general guide to costs for renewing a lease, but we are not able to supply the actual costs without more comprehensive due diligence. Do not use this information in tribunal or court proceedings. There may be additional concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information without first getting professional advice.
I need to change lawyers as my Hawarden lawyer is not on the bank's approved list of conveyancing solicitors. Is it advisable to appoint a new law firm?
If you haven't yet appointed a conveyancer to do anything for you and have just received quotes, you're perfectly free to choose a different solicitor to carry out your work for you. The best way is to get recommendations from friends or family who have actually used the solicitor or conveyancer in Hawarden that you're considering.