Is the fact that my solicitor in Blandfordum is not on my bank's solicitor panel that there is a problem with the standard of the firm’s conveyancing?
It would be unwise to jump to that conclusion. There are all sorts of perfectly reasonable explanations. Just recently a report by the solicitors regulator revealed 76% of law firms surveyed had been removed from at least one lender panel. The top 5 reasons are as follows: (1) lack of transactions (2) the lawyer 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 Blandfordum conveyancing practice and enquire why they are no longer on the approved list for your lender.
Various internet forums that I have visited warn that are the number one reason for obstruction in Blandfordum conveyancing transactions. Is that correct?
The Council of Property Search Organisations (CoPSO) released conclusions of research by MoveWithUs that conveyancing searches do not figure amongst the top 10 causes of hindrances in the conveyancing process. Searches are not likely to feature in any delay in conveyancing in Blandfordum.
Due to the advice of my in-laws I had a survey completed on a house in Blandfordum in advance of appointing conveyancers. I have been informed that there is a flying freehold overhang to the house. Our surveyor advised that some mortgage companies tend not grant a loan on a flying freehold property.
It depends who your proposed lender is. Lloyds has different requirements from Halifax. If you call us we can look into this further via the appropriate mortgage company. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Blandfordum. Conveyancing may be slightly more expensive based on your lender's requirements.
Hoping to buy a property located in Blandfordum and I am already nervous. I couldn't find anything specific about Blandfordum. Conveyancing will be needed in due course but do you know about the Blandfordum area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at Blandfordum. In the meantime here are some basic statistics that we found
I've recently bought a leasehold house in Blandfordum. Am I liable to pay service charges for periods before my ownership?
In a situation where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I am the registered owner of a basement flat in Blandfordum, conveyancing was carried out half a dozen years ago. How much will my lease extension cost? Comparable flats in Blandfordum with an extended lease are worth £197,000. The ground rent is £55 levied per year. The lease finishes on 21st October 2080
With 55 years unexpired we estimate the price of your lease extension to range between £31,400 and £36,200 as well as costs.
The figure above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more comprehensive investigations. You should not use the figures in a Notice of Claim or as an informal offer. There may be additional issues that need to be considered and you obviously should be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information without first getting professional advice.