I am purchasing a house without a mortgage in The Ridgeway. I have been living for the last Seventeen years in The Ridgeway. Conveyancing searches are exorbitant. As I have knowledge of the area and road very well must I have all the conveyancing searches?
If you not getting a mortgage, then the vast majority of the The Ridgeway conveyancing searches are non-obligatory. Your conveyancer will ’encourage you, no-doubt strongly, that you should have searches done, but she has a professional duty to take that path of advice. One thing to consider; if you are likely to dispose of the house in the future, it may be of relevance to your future buyer what the searches disclose. Sometimes premises with apparent issues can still throw up unfavourable search results. A good conveyancing solicitor in The Ridgeway should be able to give you some sensible advice concerning this.
We previously chose solicitors located in The Ridgeway on the Aldermore solicitor approved list. They are now charging me a separate sum for handling the Aldermore mortgage. Is this a supplemental conveyancing fee specified by Aldermore?
Provided it is contained in their Terms and Conditions or estimate then yes your lawyer may charge a fee for this. The charge is not dictated by Aldermore but by your The Ridgeway conveyancer. Plenty of firms on the Aldermore panel will quote ’dealing with mortgage’ fee and others do not.
Two weeks ago we had a mortgage agreed in principle with Kent Reliance. The Ridgeway conveyancing solicitors were instructed. How long does it take for Kent Reliance to send the offer to the property lawyer?
Some lenders take longer than others. Have Kent Reliance completed the valuation? Have you advised Kent Reliance as to your lawyers' details and checked that your lawyers are on the Kent Reliance conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
I recently had an offer accepted on an apartment in The Ridgeway. My mortgage broker pressured me to appoint their property lawyer. I paid an on account payment of £175. A couple of days later, the property lawyer called me sheepishly admitting that they were not on the Virgin Money conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Virgin Money panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
My father has encouraged me to instruct his conveyancing solicitors in The Ridgeway. Should I use them?
Much as we are happy to recommend a The Ridgeway conveyancing lawyer it’s preferable to find a conveyancing solicitor is to get guidance from friends or family who have previously instructed the solicitor you're are thinking of instructing.
I've recently bought a leasehold house in The Ridgeway. Am I liable to pay service charges relating to a period prior to my ownership?
In a situation where the service charge has already been demanded from the previous owner 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).
Following months of correspondence we cannot agree with our landlord on how much the lease extension should cost for our flat in The Ridgeway. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?
Most certainly. We are happy to put you in touch with a The Ridgeway conveyancing firm who can help.
An example of a Lease Extension decision for a The Ridgeway premises is Various @ Colombus Square in January 2012. the Tribunal calculated the premiums to be paid for new leases for each of the flats in Mariners Walk to be £3822 and the premium to be paid for the new lease of 2 Knights Court to be £4439. This case affected 13 flats. The unexpired residue of the current lease was 76 years.
Two months into buying a residence in The Ridgeway. Conveyancing solicitor has called to say the property is "Leasehold". Does this adversely affect the salability of the house?
The Ridgeway conveyancing does not in most situations involve leasehold houses. The crucial consideration here is the remaining lease term and the ground rent. If it's 999 years with a nominal rent, it's almost the same as freehold, so it shouldn't impact the marketability too much.
At the other extreme, if it's, say, 50 years it will have a material effect on the saleability, and most likely wouldn't be mortgageable. The length of lease and ground rent will be set out in the lease which should be made available to your property lawyer.