What is the first thing I need to know about purchase conveyancing in Oldbury?

Not many law firms shout this from the rooftops but conveyancing in Oldbury and elsewhere in England and Wales is an adversarial experience. In other words, when it comes to conveyancing there is plenty of room for friction between you and others involved in the legal transfer of property. E.g., the seller, property agent and on occasion the lender. Appointing a lawyer for your conveyancing in Oldbury should not be taken lightly as your conveyancer is your adviser, and is the ONLY person in the transaction whose responsibility is to act in your legal interests and to protect you.

On occasion a third party with a vested interest will try and persuade you that you should follow their advice. As an example, the selling agent may claim to be assisting by suggesting your conveyancer is wrong. Or your financial adviser may try to convince you to do something that is against your solicitors advice. You should always trust your lawyer above all other parties when it comes to the legal transfer of property.

My wife and I are purchasing a flat in Oldbury. I might seem paranoid but how we can trust a conveyancer? At some point we will need to send funds into their account. What is the protection we have from them run away with our money?

Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.

What is the difference between a licensed conveyancer and conveyancing solicitor in Oldbury

There are two types of lawyers who can do conveyancing in Oldbury namely licenced conveyancers or solicitors. The two can provide conveyancing services that required to complete the sale or acquisition of property. They are both duty bound to handle Oldbury conveyancing to the same quality and guidelines so you can be sure that your conveyancing will be properly administered and that the necessary steps should be appropriately adhered to.

I have paid off my mortgage with Yorkshire BS. I assume I don't need a Oldbury lawyer on the Yorkshire BS panel to remove the mortgage at the Land Registry. Please confirm.

If you have finished paying off your Yorkshire BS mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Yorkshire BS mortgage from the register. Yorkshire BS, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:

1. but are not moving to another property
2. where Yorkshire BS has sent the Land Registry the discharge electronically, and
3. Yorkshire BS has instructed the Land Registry to do so

What can a local search inform me concerning the property I am purchasing in Oldbury?

Oldbury conveyancing often starts with the submitting local authority searches directly from your local Authority or via a personal search organisations for instance Searches UK The local search is essential in every Oldbury conveyancing purchase; that is if you wish to avoid any nasty once you have moved into your property. The search will provide 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 13 subject sections.

Over the last few months I have been searching for a flat up to £305k and identified one close by in Oldbury I like with open areas and railway links in the vicinity, however it's only got 51 years on the lease. There is not much else in Oldbury in this price bracket, so just wondered if I would be making a grave error acquiring a short lease?

If you need a home loan that many years may be problematic. Reduce the offer by the expected lease extension will cost if it has not already been discounted. If the current proprietor has owned the property for a minimum of 2 years you can ask them to start the process of the extension and pass it to you. An additional ninety years can be extended on to the existing lease with a zero ground rent applied. You should speak to your conveyancing solicitor concerning this matter.

There are only 62 years left on my lease in Oldbury. I now wish to get lease extension but my freeholder is absent. What are my options?

On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be extended by the Court. However, you will be required to demonstrate that you have made all reasonable attempts to locate the freeholder. In some cases a specialist may be helpful to try and locate and to produce an expert document to be accepted by the court as proof that the freeholder can not be located. It is advisable to get professional help from a conveyancer in relation to proving the landlord’s absence and the vesting order request to the County Court covering Oldbury.

Leasehold Conveyancing in Oldbury - Examples of Queries Prior to buying

Its a good idea to find out as much as possible concerning the managing agents as they will affect your use and enjoyment of the property. Being a leasehold owner you will be in the clutches of the managing agents both financially and when it comes to day to day issues such as the upkeep of the common parts. Ask prospective neighbours if they are happy with their service. Finally, be sure you discover the dates that the service fees are due to the appropriate party and specifically what you get for your money. What prohibitions exist in the Oldbury Lease? Please inform me if there are any major works in the near future that will likely increase the maintenance fees?