What is the first thing I need to know about purchase conveyancing in Selly Oak?
Not many law firms or advisers will tell you this but conveyancing in Selly Oak or throughout Birmingham is often a confrontational experience. Put another way, when it comes to conveyancing there is an abundance of room for conflict between you and other parties involved in the transaction. For example, the seller, estate agent and sometimes the lender. Appointing a solicitor for your conveyancing in Selly Oak should not be taken lightly as your conveyancer is your adviser, and is the ONE party in the process whose interest is to protect your legal interests and to keep you safe.
On occasion a potential adversary may attempt to persuade you that it is in your interests to do things their way. For instance, the selling agent may claim to be assisting by claiming that your solicitor is dragging his heels. Or your mortgage broker may advise you to do something that is contrary to your lawyers guidance. You should always trust your lawyer above all other parties when it comes to the legal transfer of property.
I have Fifty Six years left on my lease and require a lease extension for my flat in Selly Oak. Conveyancing solicitors on the Chelsea Building Society panel can deal with such extensions correct?
Most leasehold conveyancing experts should be able to deal with a lease extension. if you are getting a mortgage then your lender may insist that the lease be extended before competition. Chelsea Building Society have specific requirements as set out in the UK Finance Lenders’ Handbook in relation to minimum unexpired lease terms. As of 26/9/2022 the requirements read as follows :
2 months have elapsed following my purchase conveyancing in Selly Oak took place. I have checked the Land Registry website which shows that I paid £150,000 when infact I paid £180,000. 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 asset 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 have been on the look out for a leasehold apartment up to £305k and identified one near me in Selly Oak I like with amenity areas and transport links nearby, however it's only got 51 years unexpired on the lease. I can't really find anything else in Selly Oak suitable, so just wondered if I would be making a grave error acquiring a lease with such few years left?
If you require a home loan the shortness of the lease will be an issue. Discount the price by the anticipated lease extension will cost if not already taken into account. If the current proprietor has owned the property for a minimum of twenty four months you may ask them to start the process of the extension and pass it to you. You can add 90 years to the current lease with a zero ground rent applied. You should speak to your conveyancing solicitor concerning this.
I have just placed an offer on an apartment in Selly Oak and the estate agent that we are using suggested his conveyancing practitioner. She quoted nine hundred pounds plus VAT and 3rd party costs. Does this sound like a good deal?
Don't just go on 1 estimate. One should seek like-for-like quotes for your conveyancing in Selly Oak. Then select one that you trust and just as important, is on the approved panel of the mortgage company that you are sourcing your mortgage from.