I have just been advised by my broker that my Turvey property lawyer is not on the mortgage company Conveyancing panel. How can I be certain whether this is indeed the case?
Your first step should be to contact your Turvey conveyancer. You lawyer should advise you of the situation. If they are not on the panel they may recommend you to a Turvey conveyancing firm that is on the approved list of lawyers for your bank.
My wife and I have recently appointed a conveyancing solicitor in Turvey. I I am struggling to find out whether they are accepted on the conveyancing panel. Can you or the lender confirm if they are on the panel?
The first thing you should do is e-mail your solicitor and ask them if they can act for the bank. Alternatively please call who may be able to assist.
My wife and I are close to exchanging contracts on the sale of our home in Turvey and the buyers lawyers are claiming that there is a risk of it being constructed land that was not decontaminated. Any local conveyancer would know this is not the case. For the life of me I don't know why the buyers used a national conveyancing outfit rather than a conveyancing solicitor in Turvey. Having lived in Turvey for 4 years we know of no issue. Should we get in touch with our local Authority to obtain clarification that the buyers are looking for.
It sounds as though you may have a conveyancing solicitor already. Are they able to advise? You need to check with your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same ailment)
I opted to have a survey carried out on a house in Turvey prior to instructing conveyancers. I have been informed that there is a flying freehold aspect to the house. My surveyor has said that some mortgage companies may not give a mortgage on this type of home.
It varies from the lender to lender. Lloyds has different instructions for example to Halifax. Should you wish to telephone us we can check via the relevant mortgage company. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Turvey. Conveyancing will be smoother if you use a solicitor in Turvey especially if they are acquainted with such properties in Turvey.
I am looking at a couple of maisonettes in Turvey both have approximately 50 years unexpired on the lease term. Will this present a problem?
There are plenty of short leases in Turvey. The lease is a right to use the property for a prescribed time frame. As the lease gets shorter the saleability of the lease reduces and results in it becoming more costly to extend the lease. For this reason it is often a good idea 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 extension can be a difficult process. We recommend you seek professional assistance from a solicitor and surveyor with experience in this field.
I purchased a 2 bed flat in Turvey, conveyancing was carried out 1995. Can you shed any light on how much the price could be for a 90 year extension to my lease? Equivalent properties in Turvey with an extended lease are worth £165,000. The ground rent is £45 per annum. The lease comes to an end on 21st October 50
With 50 years left to run we estimate the premium for your lease extension to be between £36,100 and £41,800 plus costs.
The figure that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more detailed investigations. 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 want to be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information without first getting professional advice.