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Find a North Cornelly Conveyancing Solictior on Your Lender’s Panel

Ready to buy a new home in North Cornelly? Failing to check that a lawyer is on your lender’s list of approved solicitors can put your North Cornelly transaction at risk of delay or failure.

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Recently asked questions about conveyancing in North Cornelly

I have given 8 weeks notice to my current landlord and must be out of my rented apartment in North Cornelly by the end of next month. Conveyancing on my purchase is underway. How realistic is it to complete in 5 weeks as I wish to avoid having to move into short term accommodation?

Generally one should not give notice for your letting unless you have exchanged. Assuming that you have not already done so, contact to your solicitor and ask them to they seek the assistance the owners solicitors, try to get a realistic time scale from them that everyone will look towards

What does a local search reveal concerning the property I am buying in North Cornelly?

North Cornelly conveyancing often commences with the submitting local authority searches directly from your local Authority or through a personal search organisations such as PSG The local search plays a central part in many a North Cornelly conveyancing purchase; as long as you don’t want any unpleasant surprises after you move into your property. The search will reveal information on, amongst other things, details on planning applications relevant to the premises (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of thirteen subject headings.

4 months have gone by following my purchase conveyancing in North Cornelly took place. I have checked the Land Registry website which shows that I paid £200,000 when infact I paid £215,000. Why the discrepancy?

The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the premises from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.

I've recently found out that there is a flying freehold element on a property I put an offer in last month in what should have been a straight forward, no chain conveyancing. North Cornelly is the location of the property. What do you suggest?

Flying freeholds in North Cornelly are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside North Cornelly you would need to get your solicitor to go through the deeds very carefully. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in North Cornelly 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.

Can you provide any advice for leasehold conveyancing in North Cornelly with the intention of speeding up the sale process?

  • A significant proportion of the delay in leasehold conveyancing in North Cornelly can be reduced where you instruct lawyers as soon as you market your property and ask them to put together the leasehold information needed by the purchasers’ lawyers.
  • A minority of North Cornelly leases require Licence to Assign from the landlord. If this applies to your lease, you should notify your estate agents to make sure that the purchasers obtain bank and professional references. Any bank reference will need to confirm that the buyers are financially capable of paying the yearly 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 service charge figures 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 permission? Have you, for example installed wooden flooring? Most leases in North Cornelly state that internal structural changes or addition of wooden flooring necessitate a licence issued by the Landlord approving such alterations. Where you fail to have the paperwork in place you should not contact the landlord without contacting your solicitor in the first instance. You may think that you are aware of the number of years remaining on your lease but it would be advisable double-check via your conveyancers. A buyer’s conveyancer will not be happy to advise their client to where the remaining number of years is below 75 years. It is therefore important at an early stage that you identify whether the lease term for your property needs extending. If it does, contact your solicitors before you put your premises on the market for sale. If you have had any disputes with your freeholder or managing agents it is essential that these are settled prior to the flat being marketed. The buyers and their solicitors will be concerned about purchasing a property where there is an ongoing dispute. You may need to swallow your pride and discharge any arrears of service charge or resolve the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You will still have to reveal details of the dispute to the buyers, but it is better to present the dispute as historic as opposed to unresolved.

I acquired a 1st floor flat in North Cornelly, conveyancing was carried out March 2011. Can you give me give me an indication of the likely cost of a lease extension? Similar flats in North Cornelly with over 90 years remaining are worth £186,000. The ground rent is £55 charged once a year. The lease finishes on 21st October 2077

With 53 years unexpired the likely cost is going to span between £27,600 and £31,800 plus costs.

The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you the actual costs in the absence of detailed investigations. You should not use this information in tribunal or court proceedings. There are no doubt other issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information before getting professional advice.

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Find out more about how flying freehold can affect your the value of a property.