I am refinancing my apartment in Wigton, does my lawyer have to be on the Skipton Solicitor panel?
There is nothing to stop you using your solicitor, but Skipton will insist on their interests being represented by a firm on their conveyancing panel. There is much more potential for delays and confusion with an additional lawyer added to the mix, and it will undoubtedly be more expensive too.
I used Stirling Law several years ago for my conveyancing in Wigton. Now, I need the files but cannot find the solicitor. What do I do?
Do contact the Solicitors Regulatory Authority (SRA) to assist in tracing your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Wigton of the conveyancing firm of solicitors you previously retained, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
How does conveyancing in Wigton differ for new build properties?
Most buyers of new build residence in Wigton contact us having been asked by the builder to sign contracts and commit to the purchase even before the house is built. This is because house builders in Wigton tend to purchase the real estate, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Wigton or who has acted in the same development.
Due to the guidance of my in-laws I had a survey completed on a property in Wigton in advance of appointing lawyers. I have been advised that there is a flying freehold aspect to the house. The surveyor advised that some mortgage companies may refuse to grant a mortgage on a flying freehold premises.
It depends who your proposed lender is. Lloyds has different requirements for example to Birmingham Midshires. If you call us we can look into this further via the appropriate lender. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Wigton. Conveyancing may be slightly more expensive based on your lender's requirements.
I am attracted to a couple of flats in Wigton both have approximately fifty years left on the leases. Do I need to be concerned?
There are plenty of short leases in Wigton. The lease is a right to use the premises for a period of time. As a lease shortens the saleability of the lease decreases and results in it becoming more expensive to acquire a lease extension. For this reason it is generally wise to extend the lease term. More often than not it is difficult to sell a property with a short lease because mortgage lenders may be unwilling to lend money on properties of this type. Lease enfranchisement can be a protracted process. We recommend you seek professional help from a conveyancer and surveyor with experience in this area.
I purchased a basement flat in Wigton, conveyancing having been completed 3 years ago. Can you work out an approximate cost of a lease extension? Similar flats in Wigton with an extended lease are worth £176,000. The ground rent is £50 invoiced every year. The lease terminates on 21st October 2104
With just 80 years remaining on your lease we estimate the price of your lease extension to range between £8,600 and £9,800 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. You should not use this information in tribunal or court proceedings. There are no doubt other concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. Neither should you take any other action based on this information before seeking the advice of a professional.