I have 7378 less than 75 years remaining on my lease and require a lease extension for my apartment in Romsley. Conveyancing solicitors on the Accord Mortgages panel can deal with such extensions correct?

Most leasehold conveyancing experts should be able to deal with a lease extension. if you are getting a mortgage then your lender may insist that the lease be extended before competition. Accord Mortgages have specific requirements as set out in the UK Finance Lenders’ Handbook in relation to minimum unexpired lease terms. As of 10/11/2024 the requirements read as follows :

I've recently found out that there is a flying freehold issue on a house I put an offer in last month in what should have been a simple, no chain conveyancing. Romsley is the location of the property. Can you offer any assistance?

Flying freeholds in Romsley are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Romsley you must be sure that your lawyer goes through the deeds diligently. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Romsley may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.

Do I need to be concerned about estate agents that I am dealing with are recommending a web based conveyancing firm rather than a High Street Romsley conveyancing practice?

As is the case with lots of professional services, often input from family and friends can be extremely useful or valuable. Yet there are numerous players in a conveyancing matter; estate agents, financial adviser and mortgage companies may suggest solicitors to choose. On occasion these conveyancers might be known to one of the organisations as experts in their field, but occasionally there might be a commercial relationship behind the endorsement. You are free to select your preferred conveyancer. Don't forget that the majority of banks specify a panel list of law firms you are obliged to use for the lender related work in your house move.

I am 14 days into a residential purchase having been recommend to a firm by the local agent to perform conveyancing in Romsley. I am am very disappointed with the level of service. Can you you assist me in finding new lawyers?

A solicitor would have to be very bad to suggest replacing them. Has your mortgage been issued? In the event that it has you must make them aware of the new contact details and ensure the offer are re-sent. The conveyancer should be on the banks approved list to avoid added expenses and delays. That should be your first question of the new solicitors. Our find a solicitor tool can assist you in finding a bank approved lawyer for your home move in Romsley

I have just started marketing my ground floor apartment in Romsley. Conveyancing lawyers have not yet been instructed, but I have recently had a quarterly maintenance charge demand – should I leave it to the buyer to sort out?

The sensible thing to do is pay the service charge as usual because all ground rent and maintenance invoices will be apportioned as part of the financial calculations for completion monies, so you will be reimbursed by the purchaser for the period running from after the completion date to the next payment date. Most managing agents 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.

I bought a garden flat in Romsley, conveyancing formalities finalised 8 years ago. Can you please calculate a probable premium for a statutory lease extension? Corresponding properties in Romsley with a long lease are worth £191,000. The ground rent is £55 levied per year. The lease comes to an end on 21st October 2077

With only 53 years unexpired we estimate the premium for your lease extension to range between £27,600 and £31,800 plus costs.

The suggested premium range above a general guide to costs for renewing a lease, but we are not able to provide a more accurate figure in the absence of comprehensive due diligence. Do not use this information in a Notice of Claim or as an informal offer. There may be other concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. You should not move forward based on this information without first seeking the advice of a professional.