I have decided to exercise my right to buy my property in Rednal off the council. I have a mortgage offer with Lloyds. Conveyancing is not something I have any knowledge of. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Lloyds, you will need to appoint a solicitor on the Lloyds conveyancing panel.
I've read lots of house buying guides, I note that they all recommend that you should get your house surveyed prior to buying it. When I asked my local Rednal solicitor - who is on the Santander conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. Is that normal?
Santander will need an independent valuation of the property. Your lawyer will not arrange this. Usually Santander 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. You may wish to consider appointing your own Rednal surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
Our offer on a semi in Rednal has been agreed to, but there is a chain. The sellers have offered on somewhere, but it’s not been accepted yet, and have viewings of other apartments in the pipeline. I have selected a nearby conveyancing solicitor in Rednal. What should be my next step? At what point should I apply for the mortgage with Clydesdale?
It is normal to have concerns where there is a chain as you are unlikely to want to incur costs too early (home loan application is in the region of £1k, then valuation, Rednal conveyancing search fees, etc). First, you must check that your lawyer is on the Clydesdale conveyancing panel. As to the subsequent steps this very much dictated by the circumstances of your transaction, desire for this property and on the state of the market. In a hot market many buyers would apply for the mortgage with Clydesdale and arrange for the valuation and only if it comes back ok would they pay their conveyancing practitioner to move forward with searches.
I am purchasing a house and the conveyancer has referenced Chancel Repair for which the property could be obligated to contribute to as it falls into the area of such a church. He has mentioned insurance. Is this strictly required for conveyancing in Rednal
Unless a prior acquisition of the house completed post 12 October 2013 you could take it that conveyancing practitioners carrying out conveyancing in Rednal to continue to suggest a chancel search and or insurance against a claim.
I've recently found out that there is a flying freehold element on a house I put an offer in last month in what was supposed to be a simple, no chain conveyancing. Rednal is where the house is located. Is there any advice you can impart?
Flying freeholds in Rednal are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Rednal you would need to get your solicitor to go through the deeds diligently. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Rednal 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.
In scouring the world wide web for the term cheap conveyancing in Rednal it shows results of numerous property lawyerslocally. How do I determine which is the right conveyancing solicitor for me?
The preferential way of seeking the right conveyancer is via trusted testimonial, so ask colleagues and family who have purchased a property in Rednal or the respected estate agent or mortgage broker. Fees for conveyancing in Rednal vary, so it's sensible to secure at least four fee estimates from varying types of solicitors. Make sure that you know that the fees are fixed.
I've found a house that seems to be perfect, at a great figure which is making it more attractive. I have subsequently discovered that it's a leasehold rather than freehold. I am assuming that there are particular concerns purchasing a house with a leasehold title in Rednal. Conveyancing solicitors have not yet been instructed. Will my lawyers set out the implications of buying a leasehold house in Rednal ?
Most houses in Rednal are freehold rather than leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area who can help the conveyancing process. it is apparent that you are buying in Rednal in which case you should be looking for a Rednal conveyancing solicitor and check that they are used to dealing with leasehold houses. First you will need to check the unexpired lease term. As a lessee you will not be entirely free to do whatever you want with the house. The lease will likely included provisions such as obtaining the freeholder’spermission to conduct changes to the property. It may be necessary to pay a service charge towards the maintenance of the communal areas where the property is located on an estate. Your solicitor will appraise you on the various issues.
I inherited a basement flat in Rednal, conveyancing was carried out half a dozen years ago. Can you let me have an estimated range of the fair premium for a lease extension? Comparable flats in Rednal with over 90 years remaining are worth £202,000. The ground rent is £60 invoiced annually. The lease ends on 21st October 2076
With 57 years unexpired we estimate the premium for your lease extension to be between £28,500 and £33,000 as well as legals.
The figure that we have given is a general guide to costs for renewing a lease, but we are not able to provide a more accurate figure in the absence of detailed due diligence. You should not use this information in tribunal or court proceedings. There may be other issues that need to be considered and you obviously should be as accurate as possible in your negotiations. Please do not take any other action based on this information without first seeking the advice of a professional.