Am I correct in assuming that the fact that my conveyancer in Appleton is not identified on my lender's conveyancing panel that there is a problem with the quality of his conveyancing?
It would not be wise to jump to that conclusion. There are plenty of plausible explanations. A recent report by the solicitors regulator indicated 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 Appleton conveyancing firm and enquire why they are no longer on the approved list for your lender.
I purchased a renovated Edwardian property in Appleton. Conveyancing lawyer represented me and National Westminster Bank. I did a free Land Registry search last week and there are a couple of entries: the first freehold, another for leasehold with the matching address. I'd like to know for sure, how can I find out??
You need to assess 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 Appleton and other areas of the country and poses no real issues for owners other than when they remortgage they have to account for both freehold and leasehold interests when dealing with purchasers. You can also check the position with your conveyancing lawyer who conducted the work.
How does conveyancing in Appleton differ for newly converted properties?
Most buyers of new build premises in Appleton contact us having been asked by the housebuilder to sign contracts and commit to the purchase even before the residence is ready to move into. This is because developers in Appleton typically purchase the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Appleton or who has acted in the same development.
I am looking for a flat up to £235,500 and found one round the corner in Appleton I like with open areas and transport links in the vicinity, the downside is that it's only got 49 remaining years left on the lease. I can't really find anything else in Appleton for this price, so just wondered if I would be making a grave error buying a short lease?
Should you require a home loan the shortness of the lease will be a potential deal breaker. Reduce the price by the amount the lease extension will cost if not already taken into account. If the existing owner has owned the property for at least twenty four months you can ask them to commence the lease extension formalities and then assign it to you. You can add 90 years to the existing lease and have £0 ground rent by law. You should consult your conveyancing lawyer regarding this.
I own a leasehold house in Appleton. Conveyancing and National Westminster Bank mortgage went though with no issue. I have received a letter from someone saying they have taken over the freehold. It included a ground rent demand for rent dating back to 1993. The conveyancing practitioner in Appleton who previously acted has long since retired. What should I do?
First contact the Land Registry to make sure that this person is in fact the registered owner of the freehold reversion. There is no need to instruct a Appleton conveyancing solicitor to do this as you can do this on the Land Registry website for less than a fiver. You should note that regardless, even if this is the legitimate freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I invested in buying a 1 bedroom flat in Appleton, conveyancing was carried out half a dozen years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Similar properties in Appleton with over 90 years remaining are worth £202,000. The ground rent is £60 invoiced annually. The lease expires on 21st October 2082
With just 57 years unexpired the likely cost is going to range between £28,500 and £33,000 as well as costs.
The figure above a general guide to costs for extending a lease, but we are not able to provide a more accurate figure without more detailed due diligence. Do not use this information in tribunal or court proceedings. There may be additional concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. You should not take any other action based on this information before seeking the advice of a professional.
Should I cancel the direct debit for my mortgage with Clydesdale once a completion date for my sale in Appleton has been agreed?
You would be well advised to keep meeting any mortgage payments to Clydesdale pending the mortgage being repaid on completion as part of your Appleton conveyancing.