My wife and I are about to complete on the purchase of a house in Towcester but as a consequence of damage from a small fire at the property I have was able negotiate recompense from the seller in the sum of £2k in the form of a adjustment in the price. This was going to be dealt with as part of the conveyancing process but RBS are not allowing this. Why were they informed?
Any conveyancer being on a RBS conveyancing panel is obliged to inform RBS of any variations to the sale price. If you prohibit your property lawyer to report the price change to RBS then they would have to discontinue acting for you. In addition, RBS and you would have to appoint a new conveyancer for your conveyancing in Towcester.
I have been told that property searches are the primary reason for obstruction in Towcester conveyancing transactions. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) released determinations of a review by MoveWithUs that conveyancing searches do not feature within the most frequent causes of hindrances during the legal transfer of property. Local searches are unlikely to feature in any holding up conveyancing in Towcester.
I decided to have a survey completed on a house in Towcester in advance of instructing lawyers. I have been told that there is a flying freehold element to the property. Our surveyor advised that some lenders may refuse to grant a mortgage on such a house.
It depends who your proposed lender is. HSBC has different instructions for example to Halifax. If you contact us we can look into this further via the appropriate bank. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Towcester. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Towcester to see if the conveyancing costs will increase in light of this.
I am downsizing from my house. My previous lawyers has retired. I would be grateful for any recommendation of a conveyancing firm. I happen to live in Towcester if that affects matters.
Do use our search tool to help you choose a solicitor for your conveyancing in Towcester. We have connected thousands of home buyers and sellers with regulated solicitors to ensure that the legalities of their house move runs with a minimum of fuss.
My wife and I purchased a leasehold house in Towcester. Conveyancing and Chelsea Building Society mortgage went though with no issue. I have received a letter from someone claiming to own the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1996. The conveyancing solicitor in Towcester who acted for me is not around. What should I do?
First contact HMLR to be sure that the individual claiming to own the freehold is indeed the registered owner of the freehold reversion. You do not need to instruct a Towcester conveyancing firm to do this as it can be done on-line for a few pound. Rest assured that regardless, even if this is the legitimate landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I invested in buying a ground floor flat in Towcester, conveyancing was carried out April 1999. Can you give me give me an indication of the likely cost of a lease extension? Equivalent properties in Towcester with a long lease are worth £191,000. The average or mid-range amount of ground rent is £55 charged once a year. The lease expires on 21st October 2071
With just 53 years unexpired we estimate the premium for your lease extension to range between £27,600 and £31,800 as well as legals.
The figure above a general guide to costs for renewing a lease, but we are not able to advice on a more accurate figure in the absence of detailed investigations. Do not use the figures in a Notice of Claim or as an informal offer. There may be additional issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Please do not take any other action based on this information before getting professional advice.