Why do I have to pay up front for conveyancing in Worcestershire?

If you are buying a property in Worcestershire your solicitor will ask you put them with funds to cover the the cost of the conveyancing searches. Generally this is needed to cover the fees of the Local Authority Search. When the down payment is as part of the total price then this should be required shortly before exchange of contracts. The closing balance that is due should be transferred shortly before completion.

Can I be sure that the Worcestershire conveyancing solicitor on the Aldermore panel is any good?

When it comes to conveyancing in Worcestershire seeking recommendations is a sensible start. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one advertising the lowest fees. We would always advocate that you speak with the lawyer carrying out your conveyancing.

I can not work out if my lender requires a lease extension. I have called my Worcestershire building society branch on a couple of occasions and was told they are content with the situation and they would lend. My Worcestershire conveyancing solicitor - who is on the lender conveyancing panel- telephoned and was told they refuse to lend based on their UK Finance Lenders’ Handbook minimum lease term requirements. I have no idea who is right.

Your conveyancer must comply with the CML Handbook Part 2 requirements for your lender. Unless your lawyer obtains specific confirmation in writing that the bank will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the lender to contact your lawyer in writing confirming that they will accept the number of years remaining.

After months of negotiation I have agreed a price on an apartment in Worcestershire. My financial adviser suggested a solicitor. I paid an upfront payment of £150. A few days later, the conveyancer contacted me to say that they were not on the Aldermore conveyancing panel. Am I right in thinking that I should be due a refund?

You should be able to recover this from the law firm if they were not on the Aldermore panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.

I am purchasing my first flat in Worcestershire benefiting from help to buy. The developers would not budge the amount so I negotiated £7000 of extras instead. The estate agent told me not inform my conveyancer about the deal as it would put at risk my mortgage with the lender. Do I keep my lawyer in the dark?.

All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.

Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.

Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.

I have been on the look out for a ground for flat up to £305k and found one near me in Worcestershire I like with open areas and railway links nearby, however it's only got 52 years unexpired on the lease. I can't really find anything else in Worcestershire in this price bracket, so just wondered if I would be making a grave error buying a short lease?

If you need a home loan the shortness of the lease may be a potential deal breaker. Reduce the offer by the amount the lease extension will cost if not already taken into account. If the current owner has owned the property for at least twenty four months you may request that they start the process of the extension and pass it to you. An additional ninety years can be extended on to the current lease term with a zero ground rent applied. You should consult your conveyancing solicitor regarding this matter.

I today plan to offer on a house that appears to meet my requirements, at a reasonable figure which is making it all the more appealing. I have just found out that the title is leasehold as opposed to freehold. I am assuming that there are issues buying a leasehold house in Worcestershire. Conveyancing solicitors have not yet been appointed. Will they explain the issues?

Most houses in Worcestershire are freehold rather than leasehold. This is one of the situations where having a local conveyancer who is familiar with the area who can assist with the conveyancing process. It is clear that you are purchasing in Worcestershire in which case you should be shopping around for a Worcestershire conveyancing practitioner and be sure that they are used to dealing with leasehold houses. As a matter of priority you will need to check the unexpired lease term. Being a lessee you will not be entirely free to do whatever you want to the property. The lease will likely included provisions for example requiring the freeholder’spermission to carry out changes to the property. It may be necessary to pay a maintenance charge towards the maintenance of the estate where the property is located on an estate. Your solicitor will report to you on the legal implications.

I bought a 1st floor flat in Worcestershire, conveyancing formalities finalised 5 years ago. Can you please calculate a probable premium for a statutory lease extension? Similar flats in Worcestershire with a long lease are worth £195,000. The ground rent is £45 invoiced every year. The lease runs out on 21st October 2088

With only 63 years remaining on your lease we estimate the premium for your lease extension to range between £16,200 and £18,600 as well as 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 detailed due diligence. Do not use the figures in tribunal or court proceedings. There may be additional concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information before seeking the advice of a professional.