Am I correct in assuming that the fact that my solicitor in Wolstanton is not listed on my bank's conveyancing panel that there is a problem with the standard of the firm’s work?

That is more than likely a wrong assumption to make. There are all sorts of perfectly reasonable explanations. A recent report by the solicitors regulator revealed that over three quarters of law firms surveyed had been removed from at least one lender panel. The most common reasons for removal are: (1) lack of transactions (2) the solicitor is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. Should you be concerned you should simply call the Wolstanton conveyancing practice and enquire why they are no longer on the approved list for your mortgage company.

Can your site be used to recommend a Conveyancing solicitor in Wolstanton even if I’m not purchasing or disposing of a house, for example if I wish to acquire an office in Wolstanton with a loan from Virgin Money?

Our comparison service is predominantly used to select domestic conveyancing solicitors in Wolstanton but we have set out at the end of this page a few Wolstanton commercial conveyancing firms. You should enquire with the solicitors directly to check if they can also act for Virgin Money

I am buying a new build flat in Wolstanton. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build legal work.

Set out below is a sample of a selection of leasehold new build enquiries that you may expect your new-build leasehold conveyancing in Wolstanton

Please supply a car parking plan. The Vendor must covenant to keep unoccupied units in good repair until long leases are granted therefore. Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company?

I am looking at a two flats in Wolstanton both have approximately fifty years unexpired on the lease term. Will this present a problem?

There is no doubt about it. A leasehold flat in Wolstanton is a wasting asset as a result of the reducing lease term. The closer the lease gets to zero years unexpired, the more it reduces the value of the premises. The majority of purchasers and banks, leases with less than 75 years become less and less marketable. On a more upbeat note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of a property with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Wolstanton conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease. You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that the agreed terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.

Leasehold Conveyancing in Wolstanton - Examples of Questions you should ask before buying

Is there a share of the freehold? Be sure to find out if there is anything that is prohibited in the lease. By way of example it is reasonably common in Wolstanton leases that pets are not permitted in in a block in Wolstanton. If you love the propertyin Wolstanton but your cat can’t live with you then you will be presented with a difficult decision. Are any of leasehold owners in arrears of their service charge liability?

Estate agents have just been given the go-ahead to market my 2 bed flat in Wolstanton.Conveyancing lawyers have not yet been instructed however I have just had a half-yearly maintenance charge demand – should I leave it to the buyer to sort out?

The sensible thing to do is discharge the maintenance contribution as normal as all ground rent and maintenance charges should be apportionedon completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most management companies will not acknowledge the buyer unless the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially