Finally the sale completed on my house in Long Stratton last May but my buyer keeps texting every few hours complaining that her solicitor is waiting to hear from mine. What are the post completion sale formalities now that I have sold?
After completion of your house sale your solicitor is committed to forward the transfer deeds and all additional paperwork to the buyer’s solicitors. Depending on the transaction, your lawyer must also confirm that the legal charge in favour of the lender has been redeemed to the buyers solicitors. There is unlikely to be post completion tasks just for conveyancing in Long Stratton.
When it comes to mortgage companies such as Coventry BS, do Long Stratton solicitors have to pay an annual charge to be on the conveyancing panel?
We are not aware of any mortgage company fees to be on their list of approved firms, although some do charge an administration charge to deal with the processing of the conveyancing panel application.
We previously instructed conveyancing lawyers with offices in Long Stratton on the Nationwide solicitor panel. They are now charging me a separate fee for handling the Nationwide mortgage. Is this an additional conveyancing fee set by Nationwide?
As unfair as it may seem, as long as it’s in their Terms of Engagement or estimate then yes your property lawyer may charge a fee for this. The fee is not dictated by Nationwide but by your Long Stratton conveyancing practitioner. Some firms on the Nationwide panel will charge ’dealing with mortgage’ fee and others do not.
After shopping around on the internet I have found a Long Stratton solicitor having checked that they are on the Nottingham conveyancing panel. Does my lawyer arrange the survey of the property?
Nottingham will need an independent valuation of the property. Your lawyer will not arrange this. Usually Nottingham will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. Your property lawyer will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by your Long Stratton postcode. As you are getting a mortgage with Nottingham, you could contact them to see if they have a list of approved surveyors in Long Stratton.
Over the last few months I have been searching for a ground for flat up to £305k and found one round the corner in Long Stratton I like with a park and station in the vicinity, the downside is that it's only got 61 years on the lease. I can't really find anything else in Long Stratton suitable, so just wondered if I would be making a grave error purchasing a lease with such few years left?
Should you need a mortgage that many years may be problematic. Discount the price by the anticipated lease extension will cost if it has not already been discounted. If the current proprietor has owned the premises for a minimum of 2 years you may request that they start the process of the extension and then assign it to you. You can add 90 years to the current lease with a zero ground rent applied. You should consult your conveyancing lawyer about this matter.
Is it best to choose a Long Stratton conveyancing lawyer based in the location that I am purchasing? We have a good friend who can conduct the conveyancing but they are based a couple of hundredkilometers away.
The primary upside of using a local Long Stratton conveyancing practice is that you can pop in to sign documents, deliver your identification documents and pester them if necessary. They will also have local insight which is a bonus. However it's more important to get someone that will pull out all the stops for you. If if people you trust instructed your friend and on the whole were impressed that must surpass using an unfamiliar Long Stratton conveyancing lawyer just because they are Long Stratton based.
I wish to rent out my leasehold apartment in Long Stratton. Conveyancing solicitor who did the purchase is retired - so can't ask him. Do I need to ask my freeholder for permission?
Even though your last Long Stratton conveyancing lawyer is no longer available you can review your lease to see if it allows you to sublet the apartment. The accepted inference is that if the deeds are non-specific, subletting is allowed. There may be a precondition that you are obliged to obtain consent via your landlord or other appropriate person before subletting. This means you not allowed to sublet in the absence of first obtaining consent. The consent is not allowed to be unreasonably refused ore delayed. If your lease does not allow you to sublet you will need to ask your landlord for their consent.
I acquired a 1 bedroom flat in Long Stratton, conveyancing was carried out half a dozen years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Similar flats in Long Stratton with an extended lease are worth £201,000. The average or mid-range amount of ground rent is £45 invoiced every year. The lease ends on 21st October 2083
With just 65 years left to run we estimate the premium for your lease extension to range between £13,300 and £15,400 plus costs.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we are not able to provide the actual costs in the absence of detailed investigations. Do not use this information in tribunal or court proceedings. There may be other issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. You should not move forward based on this information before seeking the advice of a professional.