Me and my brother have a terraced Victorian property in Lickey End. Conveyancing lawyer acted for me and Norwich and Peterborough Building Society. I happened to do a free search for it on the Land Registry database and there are a couple of entries: one for freehold, the second leasehold under the exact same address. I thought I was buying a freehold how can I check?
You need to assess the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Lickey End and other locations in the country and poses no real issues for owners other than when they sell they have to account for both freehold and leasehold interests when dealing with lenders. You can also check the situation with your conveyancing lawyer who conducted the purchase.
I am buying a new build house in Lickey End with a loan from Skipton Building Society. The builders refused to reduce the price so I negotiated £7000 of fixtures and fittings instead. The estate agent advised me not inform my lawyer about the extras as it would adversely affect my loan with the bank. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the developer 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.
We are 14 days into a freehold purchase having been directed to conveyancers by the estate agent to do our conveyancing in Lickey End. We are not happy. Could you help me find new solicitors?
A conveyancer would need to be really poor in order to consider replacing them. Has the loan offer been issued? If so you will need to advise them of the replacement lawyer and have the offer are issued to the new lawyers. Your conveyancer needs to be on the banks panel to avoid escalating fees and frustration. So that should be your starting point. The find a solicitor tool will assist you in finding a lender approved conveyancer for your conveyancing in Lickey End
I am employed by a reputable estate agent office in Lickey End where we see a few flat sales jeopardised as a result of short leases. I have been given conflicting advice from local Lickey End conveyancing firms. Could you confirm whether the vendor of a flat can initiate 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. This means that the proposed purchaser can avoid having 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 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 am the registered owner of a studio flat in Lickey End, conveyancing formalities finalised in 1995. Can you please calculate a probable premium for a statutory lease extension? Comparable properties in Lickey End with a long lease are worth £195,000. The ground rent is £45 per annum. The lease finishes on 21st October 2081
With just 62 years remaining on your lease the likely cost is going to range between £17,100 and £19,800 plus costs.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to supply a more accurate figure in the absence of comprehensive investigations. Do not use the figures in tribunal or court proceedings. There may be other concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Please do not take any other action based on this information without first getting professional advice.
I require the services of a bank panel solicitor in Lickey End. Can you assist?
It is not clear why you need a Lickey End panel solicitor but in any event, if you can not find one on our search tool you will need to speak directly to the lender to find out which solicitors in Lickey End are on their panel . If you do find such a firm in Lickey End not listed please direct them to our site to list. After all the cost is only one £1 a month