Much to our surprise we have been advised by our IFA that my Southam solicitor is not on the lender Conveyancing panel. How can I be certain if this is indeed the case?
Your first step should be to call your Southam lawyer directly. It is reasonable to expect your lawyer to inform you what has happened. If they are not on the panel they could put your in touch with solicitors on the approved list of lawyers for your bank.
I have been told that property searches are the primary reason for obstruction in Southam house deals. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) released findings of research by MoveWithUs that conveyancing searches do not figure amongst the most frequent causes of delays in the conveyancing process. Local searches are unlikely to feature in any delay in conveyancing in Southam.
Taking into account that I am about to spend hundreds of thousands of pounds on a garden flat in Southam I would like to talk to a solicitor regarding thehouse move ahead of instructing the firm. Can this be arranged?
Absolutely - we would be pleased to talk to you we do not take any clients on without you liaising with the conveyancer who will be conducting your conveyancing in Southam.There is no ‘factory style conveyancing’ - every client is an important person, not a case number. The law firms that we put you in touch with believe that the figure you are provided with for your conveyancing in Southam should be the amount on the final invoice that you end up paying.
Last November I purchased a leasehold flat in Southam. Do I have any liability for service charges for periods before my ownership?
In a situation where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I inherited a 2 bed flat in Southam, conveyancing having been completed half a dozen years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Equivalent properties in Southam with over 90 years remaining are worth £222,000. The ground rent is £50 charged once a year. The lease expires on 21st October 2094
With 70 years unexpired we estimate the premium for your lease extension to span between £9,500 and £11,000 plus professional fees.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs without more comprehensive due diligence. You should not use the figures in tribunal or court proceedings. There may be other issues that need to be considered and clearly you should be as accurate as possible in your negotiations. Please do not take any other action based on this information before seeking the advice of a professional.
Our financial adviser has suggested using their conveyancing practitioner for our conveyancing in Southam - won’t it be better to just instruct them?
This is not necessarily the case and you are at liberty to instruct whichever solicitor you decide for your Southam conveyancing. The solicitor put forward by a 3rd party adviser may not necessarily be the right conveyancing practitioner, they may put forward their preferred conveyancing firm who are based remotely. In this instance you may not have contact with your property lawyer and due to the lack of continuity in the transaction, it may be difficult to obtain progress reports.