When looking at moneysavingexpert.com for a high-quality lawyer in Tremeirchion, many comment that I must use a CQS assured solicitor. Can you explain what CQS is?
Tremeirchion Conveyancing Quality Scheme law firms have obtained accreditation under the Law Society's Scheme (CQS) CQS was brought about to promote high standards in the in the legal transfer of properties. CQS enables buyers and sellers to recognise practices that provide a quality residential conveyancing. Tremeirchion is one of the many areas in England and Wales in which accredited firms have a presence. The scheme requires law firms to undergo a strict assessment, compulsory training, self-reporting, spot checks and yearly assessments in order to maintain CQS status. It is open only to members of the Law Society who meet the demanding standards set by the scheme and has the support of the Council of Mortgage Lenders.
Me and my brother have a semi-detached Edwardian property in Tremeirchion. Conveyancing solicitor represented me and The Royal Bank of Scotland. I happened to do a free search for it on the Land Registry database and there are a couple of entries: the first freehold, the second leasehold with the matching property. If a house is not a freehold shouldn't I have been informed?
You need to review the Freehold register you have again and check the Charges Register as there may be 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 Tremeirchion and other locations in the country and poses no real issues for owners other than when they mortgage they have to account for both freehold and leasehold interests when dealing with purchasers. You can also check the situation with the conveyancing lawyer who conducted the purchase.
Due to the input of my in-laws I had a survey completed on a property in Tremeirchion ahead of instructing lawyers. I have been informed that there is a flying freehold aspect to the property. My surveyor advised that some banks may not give a mortgage on a flying freehold premises.
It depends who your proposed lender is. Bank of Scotland has different requirements from Halifax. Should you wish to telephone us we can investigate further with the relevant bank. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Tremeirchion. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Tremeirchion to see if the conveyancing costs will increase in light of this.
We're first time buyers - agreed a price, yet the selling agent advised that the seller will only proceed if we appoint their chosen lawyers as they need a ‘quick sale’. Our preferred option is to instruct a family conveyancer who is accustomed to conveyancing in Tremeirchion
We suspect that the seller is not behind this ultimatum. If they desire ‘a quick sale', turning down a serious purchaser is likely to cause more damage than good. Speak to the owners direct and make sure they understand (a)you are keen to buy (b)you are ready to progress, with mortgage lined up © you do not need to sell (d) you intend to proceed fast (e)but you intend to instruct your preferred Tremeirchion conveyancing lawyers - not the ones that will provide their estate agent a kickback or meet his conveyancing figures set by head office.
I am looking at a two maisonettes in Tremeirchion both have about 50 years unexpired on the lease term. should I be concerned?
A lease is a legal document that entitles you to use the premises for a prescribed time frame. As a lease gets shorter the saleability of the lease decreases and it becomes more costly to extend the lease. This is why it is generally wise to extend the lease term. It is often difficulties arise selling premises with a short lease because mortgage lenders less inclined to grant a loan on properties of this type. Lease enfranchisement can be a protracted process. We recommend you get professional help from a conveyancer and surveyor with experience in this field.
I acquired a basement flat in Tremeirchion, conveyancing having been completed half a dozen years ago. How much will my lease extension cost? Comparable flats in Tremeirchion with a long lease are worth £222,000. The ground rent is £50 yearly. The lease comes to an end on 21st October 2096
With just 71 years left to run we estimate the premium for your lease extension to range between £9,500 and £11,000 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 cannot give you a more accurate figure in the absence of comprehensive investigations. You should not use this information in tribunal or court proceedings. There are no doubt other issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information before getting professional advice.