My Solicitor in Tintern is not listed on the The Mortgage Works Conveyancing Panel. Can I still use my prefered solicitor even though they are not on the The Mortgage Works approved list?
The limited options open to you here include:
- Carry on with your existing Tintern solicitors but The Mortgage Works will need to use a lawyer on their list of acceptable firms. This will inevitably rack up the overall legal charges and cause frustration.
- Get an alternative lawyer to to deal with the purchase, remembering to check they are The Mortgage Works approved.
- Persuade your The Mortgage Works based solicitor to attempt to join the The Mortgage Works panel
I own a renovated Victorian house in Tintern. Conveyancing solicitor acted for me and Aldermore. I happened to do a free search for it on the Land Registry database and there are a couple of entries: one for freehold, the second leasehold with the matching address. If a house is not a freehold shouldn't I have been informed?
You need to read the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Tintern and other locations in the country and poses no real issues for owners other than when they sell they have to account for both freehold and leasehold interests when dealing with lenders. You can also enquire as to the situation with the conveyancing lawyer who conducted the conveyancing.
How does conveyancing in Tintern differ for newly converted properties?
Most buyers of new build or newly converted property in Tintern contact us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the property is ready to move into. This is because house builders in Tintern typically purchase the land, 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 used to new build conveyancing in Tintern or who has acted in the same development.
What does commercial conveyancing in Tintern cover?
Tintern conveyancing for business premises incorporates a broad range of services, provided by qualified solicitors, relating to business property. By way of example, this type of conveyancing can cover the sale or purchase of freehold business premises or, more commonly, the assignment of existing business tenancies or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial loans and the termination of leases.
Are there common defects that you witness in leases for Tintern properties?
There is nothing unique about leasehold conveyancing in Tintern. Most leases are individual and legal mistakes in the legal wording can sometimes mean that certain sections are erroneous. For example, if your lease is missing any of the following, it could be defective:
-
Maintenance charge proportions which don’t add up to the correct percentage A provision for the recovery of money spent for the benefit of another party.
A defective lease can cause problems when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Birmingham Midshires, Barnsley Building Society, and Alliance & Leicester all have express conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease does not cover certain provisions they may refuse to provide security, forcing the buyer to pull out.
I am the registered owner of a basement flat in Tintern, conveyancing formalities finalised in 1995. Can you let me have an estimated range of the fair premium for a lease extension? Equivalent flats in Tintern with over 90 years remaining are worth £202,000. The ground rent is £60 invoiced annually. The lease ceases on 21st October 2082
With only 57 years left to run we estimate the price of your lease extension to range between £28,500 and £33,000 as well as costs.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we are not able to advice on a more accurate figure without more comprehensive due diligence. You should not use the figures in tribunal or court proceedings. There are no doubt additional issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Neither should you move forward based on this information without first getting professional advice.