Can you explain why leasehold purchase conveyancing in Shropshire costs more?
Shropshire leasehold conveyancing transactions usually involve additional investigations than freeholds including investigating the Lease, liaising with the Landlord such as serving applicable notices on the Landlord or managing agent, obtaining up-to-date service charge and management information, obtaining Landlord’s consents and reviewing management accounts and formation documents.
About to place an offer on a leasehold apartment in Shropshire. The property agents say that it is standard for flats in Shropshire to have less than 75 years unexpired on the lease. I am taking out a mortgage with Tesco Bank. Is this going to be acceptable if the lease has 70 years unexpired.
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. Tesco Bank have specific requirements as set out in the UK Finance Lenders’ Handbook in relation to minimum unexpired lease terms. As of 1/10/2020 the requirements read as follows :
Do I need to take out insurance to cover chancel repairs when buying a property in Shropshire?
Unless a prior acquisition of the property completed after 12 October 2013 you may assume that lawyers delivering conveyancing in Shropshire to continue to advocate a chancel search and or insurance against a claim.
Yesterday I discovered that there is a flying freehold issue on a property I put an offer in two weeks back in what was supposed to be a straight forward, chain free conveyancing. Shropshire is where the house is located. Can you shed any light on this issue?
Flying freeholds in Shropshire are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Shropshire you must be sure that your lawyer goes through the deeds very carefully. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Shropshire may ascertain 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 premises.
My husband and I are 14 days into a residential purchase having been directed to a firm by the high street agent to execute conveyancing in Shropshire. I am am starting to be dissatisfied with the level of service. Could you you assist me in finding new solicitors?
A lawyer would have to be really poor to suggest replacing them. Has the mortgage offer been sent? In the event that it has you need to advise them of the new contact details and have the loan are re-issued. The conveyancer needs to be on the mortgage company panel to avoid escalating fees and delays. So that should be your starting point. Our search tool should assist you in finding a lender approved lawyer for your conveyancing in Shropshire