I plan on purchasing an apartment in Tintagel. My Conveyancer is not on the mortgage company approved panel. Can I still continue with my Tintagel conveyancing solicitor notwithstanding that they are excluded from the bank list of approved lawyers?
You must use a solicitor to deal with the formalities when you require a mortgage to purchase your property. The solicitor will carry out all the appropriate investigations on the property, ensuring that you’re registered as proprietor and ensure that all the necessary mortgage paperwork is in order. One may appoint a Tintagel property lawyer of your choice. However, where the lawyer selected is not a member of the lender conveyancing panel additional charges will be levied as separate legal representation will be required by them. Lender panel applications can be submitted, so provided your solicitor has not previously sought membership they can do so.
Me and my partner are soon to exchange buying a property in Tintagel but as a consequence of wreckage from the recent storms I have was able negotiate reparation from the owner in the sum of £3k in the form of a reduction in the price. I had intended this to be addressed as part of a side agreement however Principality will not agree to this. Why were they approached?
Any lawyer being on the Principality approved list is obliged to inform Principality of any variations to the sale price. If you were to refuse your conveyancing practitioner to report the reduction to Principality then they would have to discontinue acting for you. In addition, Principality and you would have to appoint a new solicitor for your conveyancing in Tintagel.
If you had a top tip for choosing a conveyancing solicitor in Tintagel what would it be?
Do not opt for the cheapest Tintagel conveyancing quote. You really do get what you’re paying for when it comes to property lawyers. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you go into the conveyancing with your eyes wide open.
How can we tell if a Tintagel conveyancing solicitor on the Lloyds panel is any good?
When it comes to conveyancing in Tintagel obtaining recommendations is a good start. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one which is cheap as chips. We would always advocate that you speak with the lawyer conducting your conveyancing.
After shopping around on the internet I have found a Tintagel conveyancing practitioner having checked that they are on the TSB conveyancing panel. Does my lawyer arrange the survey of the property?
TSB will need an independent valuation of the property. Your lawyer will not arrange this. Usually TSB will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. You may wish to consider appointing your own Tintagel surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
Will commercial conveyancing searches reveal impending roadworks that could affect a commercial land in Tintagel?
Its becoming the norm that commercial conveyancing solicitors in Tintagel will execute a SiteSolutions Highways report as it reduces the time that conveyancers expend in sourcing accurate data on highways that impact buildings and development assets in Tintagel. The report provides definitive information on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Tintagel.
For every commercial conveyancing transaction in Tintagel it is crucial to investigate the adoption status of roads surrounding a site. The absence of identifying developments where adoption procedures have not been addressed adequately may cause delays to Tintagel commercial conveyancing deals as well as pose a risk to future plans for the site. These searches are not ordered for domestic conveyancing in Tintagel.
I am employed by a busy estate agency in Tintagel where we have experienced a number of flat sales jeopardised due to leases having less than 80 years remaining. I have received inconsistent advice from local Tintagel conveyancing firms. Please can you clarify whether the vendor of a flat can instigate the lease extension formalities for the purchaser on completion of the sale?
As long as the seller has been the owner 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. This means that the proposed purchaser can avoid having to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or simultaneously with 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 purchased a 2 bed flat in Tintagel, conveyancing formalities finalised April 2007. Can you work out an approximate cost of a lease extension? Similar flats in Tintagel with a long lease are worth £206,000. The ground rent is £45 charged once a year. The lease comes to an end on 21st October 2087
With only 66 years unexpired we estimate the premium for your lease extension to span between £11,400 and £13,200 plus plus your own and the landlord's "reasonable" professional fees.
The suggested premium range above a general guide to costs for renewing a lease, but we are not able to provide the actual costs in the absence of detailed due diligence. You should not use this information in tribunal or court proceedings. There are no doubt other issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. You should not move forward placing reliance on this information without first seeking the advice of a professional.