We wanted to use a property lawyer in South Petherton and Lambrook for our house purchase. Our financial adviser has since notified us that our bank Coventry Building Society won't deal with them. Surely this is unfair competition?
A bank can direct that an approved solicitor act for it. Borrowers are expected to meet the cost of this. Do use our tool to choose a solicitor to carry conveyancing in South Petherton and Lambrook on the Coventry Building Society conveyancing panel.
I have todayfound out that Wolstenholmes have closed. They conducted my conveyancing in South Petherton and Lambrook for a purchase of a leasehold apartment 10 months ago. How can I check that my home is in my name in the name of the former proprietor?
The easiest way to see if the premises is in your name, you can carry out a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of South Petherton and Lambrook conveyancing specialists.
Yesterday I discovered that there is a flying freehold element on a property I put an offer in a fortnight ago in what should have been a quick, no chain conveyancing. South Petherton and Lambrook is the location of the property. What do you suggest?
Flying freeholds in South Petherton and Lambrook are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside South Petherton and Lambrook you must be sure that your lawyer goes through the deeds thoroughly. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in South Petherton and Lambrook 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 residence.
I am looking into buying my first house which is in South Petherton and Lambrook and I am already nervous. I couldn't find anything specific about South Petherton and Lambrook. Conveyancing will be needed in due course but do you know about the South Petherton and Lambrook area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at South Petherton and Lambrook. In the meantime here are some basic statistics that we found
I am employed by a busy estate agent office in South Petherton and Lambrook where we see a number of flat sales jeopardised due to leases having less than 80 years remaining. I have been given contradictory information from local South Petherton and Lambrook conveyancing solicitors. Please can you confirm whether the vendor of a flat can commence the lease extension process for the buyer?
As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser can avoid having to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or at the same time as completion of the disposal of the property.
Alternatively, it may be possible to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.
I bought a ground floor flat in South Petherton and Lambrook, conveyancing was carried out 8 years ago. Can you give me give me an indication of the likely cost of a lease extension? Corresponding flats in South Petherton and Lambrook with an extended lease are worth £176,000. The average or mid-range amount of ground rent is £50 per annum. The lease runs out on 21st October 2068
With just 50 years unexpired we estimate the price of your lease extension to range between £31,400 and £36,200 as well as legals.
The suggested premium range above a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more comprehensive investigations. Do not use this information in a Notice of Claim or as an informal offer. There may be other concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. Neither should you take any other action based on this information without first seeking the advice of a professional.