The owners have very pushy sellers who has recommended a preliminary agreement with a non-refundable deposit 10k. Are such agreements sensible?
This form of arrangement is not the norm in St Anns, conveyancers are often inclined to direct clients away from them as they divert attention from the primary focus, namely conveyancing and if you end up having your deposit forfeited then the lawyer is left exposed. Secondly, there is no certainty that just because the owner has signed a lock out agreement they will complete the sale with you. They may be in contravention of the agreement if they receive a large enough financial inducement to do so because an aggrieved buyer with the benefit of a lockoutcontract will still have to show losses as a consequence of the breach and these may not compare to the extra amount that the owner may secure by breaching the contract, however morally unworthy that may be.
My wife and I are purchasing a flat in St Anns. It might be a silly question but how we can trust a conveyancer? At some point we will need to put money into their account. What protection do we have from them run away with our monies?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
When it comes to mortgage companies such as UBS, do St Anns lawyers incur an annual charge to be on the conveyancing panel?
We are not aware of any lender fees to be on their list of approved firms, although some do levy an administration fee to deal with the processing of the conveyancing panel application.
Completion of my purchase has taken place for my property in St Anns. Conveyancing was a necessary evil but I feel I should register my dissatisfaction about the lender. Who do I contact should I wish to lodge a complaint?
All lenders have complaints procedures. Your first point of contact should be one of the lender’s branches or the Customer Care Team at head office. We understand that complaints to a lender are resolved very quickly. However if you are not satisfied that the matter is not resolved you can write to Financial Ombudsman Service who will take matters further.
I purchased my flat on 9 September and my personal details are still not registered. Need I be worried? My conveyancing solicitor in St Anns advises it would be dealt with in less than a month. Are transfers in St Anns uniquely lengthy to register?
There is nothing unique about conveyancing in St Anns registration formalities. As opposed to being determined by geographic area, timeframes can adjust subject to the party submitting the application, whether it is in order and whether the Land registry need to notify any other persons or bodies. At present in the region of 80% of such applications are fully addressed within two weeks but some can be subject to longer delays. Historically registration is effected after the purchaser is living at the property therefore 'speed' is not always primary concern but if there is a degree of urgency associated with the registration then you or your conveyancer can communicate with the Registry to express the reasoning for an expedited registration.
I decided to have a survey carried out on a property in St Anns ahead of appointing conveyancers. I have been advised that there is a flying freehold element to the house. The surveyor advised that some lenders tend refuse to give a mortgage on such a property.
It depends who your proposed lender is. Santander has different instructions for example to Halifax. If you e-mail us we can investigate further via the relevant lender. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in St Anns. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in St Anns to see if the conveyancing will be more expensive.
My wife and I purchased a leasehold flat in St Anns. Conveyancing and Halifax mortgage went though with no issue. A letter has just been received from someone saying they have taken over the freehold. Attached was a ground rent demand for rent dating back to 1997. The conveyancing practitioner in St Anns who acted for me is not around. Do I pay?
First contact the Land Registry to be sure that this person is indeed the new freeholder. It is not necessary to incur the fees of a St Anns conveyancing firm to do this as it can be done on-line for less than a fiver. You should note that in any event, even if this is the legitimate landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I purchased a split level flat in St Anns, conveyancing having been completed half a dozen years ago. Can you let me have an estimated range of the fair premium for a lease extension? Similar properties in St Anns with a long lease are worth £185,000. The average or mid-range amount of ground rent is £65 invoiced annually. The lease comes to an end on 21st October 2079
With 60 years unexpired the likely cost is going to range between £20,000 and £23,000 plus professional fees.
The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of detailed due diligence. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be considered and you obviously should be as accurate as possible in your negotiations. Neither should you move forward based on this information before getting professional advice.