The deeds to my house are lost. The lawyers who conducted the conveyancing in Bedfordshire 5 years ago no longer exist. Will I be able to sell the house?
Gone are the days when you need to hold title official documentation to establish that you are the owner of your registered land or premises, given that the Land Registry hold details of all registered land or property electronically.
The estate agent has sent us the confirmation of our purchase of a new build apartment in Bedfordshire. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build legal work.
Here is a sample of a few leasehold new build enquiries that you can expect your new-build leasehold conveyancing in Bedfordshire
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Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. There must be mutual enforceability of lessee’s covenants.
Yesterday I discovered that there is a flying freehold element on a property I put an offer in a fortnight ago in what should have been a straight forward, no chain conveyancing. Bedfordshire is the location of the property. What do you suggest?
Flying freeholds in Bedfordshire are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Bedfordshire you would need to get your solicitor to go through the deeds very carefully. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Bedfordshire 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 premises.
I need to instruct a conveyancing solicitor for my conveyancing in Bedfordshire. I have discover a web site which seems to have the ideal offering If it is possible to get all this stuff completed via web that would be preferable. Should I be wary? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
What makes a Bedfordshire lease unmortgageable?
There is nothing unique about leasehold conveyancing in Bedfordshire. Most leases are drafted differently and legal mistakes in the legal wording can sometimes mean that certain provisions are wrong. For example, if your lease is missing any of the following, it could be defective:
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A provision for the recovery of money spent for the benefit of another party.
You could encounter a problem when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Lloyds TSB Bank, Chelsea Building Society, and Platform Home Loans Ltd all have very detailed requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to provide security, forcing the purchaser to pull out.
I own a 2 bed flat in Bedfordshire, conveyancing having been completed 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? Comparable properties in Bedfordshire with a long lease are worth £185,000. The ground rent is £65 charged once a year. The lease expires on 21st October 2086
With only 61 years unexpired we estimate the premium for your lease extension to span between £19,000 and £22,000 plus costs.
The suggested premium range above a general guide to costs for renewing a lease, but we are not able to supply the actual costs without more detailed 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 considered and you obviously want to be as accurate as possible in your negotiations. You should not take any other action based on this information before getting professional advice.
My husband and I are purchasing a garden flat in Bedfordshire. At the time of instructing our solicitor, they told us that they were on all mainstream lender panels. The mortgage broker called just now to advise that they don't seem to be on the Skipton approved list. If it turns out to be true, what should we do? Do we just pick a new conveyancer that is on their panel or should we pay for separate representation, with Skipton appointing their own preferred solicitor.
Where you are acquiring a property requiring a mortgage it is conventional for the purchaser’s solicitors to also act for the mortgage company. In order to act for a bank or building society a conveyancer has to be on that lender's list of approved lawyers. An application has to be made by the conveyancing practitioner to the lender to become a member of the lender's panel and there are increasingly strict criteria which the conveyancer has to satisfy. Some lenders now require their panel firms to be part of the Law Society’s Conveyancing Quality Scheme. Your solicitor should contact Skipton to discover if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You don't have to instruct a firm on Skipton's conveyancing panel as you are at liberty to use your preferred Bedfordshire lawyers, in which case your legal fees may increase, and it may delay matters as you have another set of people involved.