It is 10 years ago since I acquired my property in Beeston. Conveyancing lawyers have now been instructed on the sale but I am unable to find my deeds. Will this cause complications?
You need not be too concerned. First the deeds may be with your lender or they could be in the possession of the solicitor who handled your purchase. Secondly in most cases the title will be recorded at the land registry and you will be able to establish that you own the property by your conveyancing solicitors obtaining current official copies of the land registers. Most conveyancing in Beeston relates to registered property but in the rare situation where your home is unregistered it is more problematic but is resolvable.
My lawyer in Beeston has never been on on the The Mortgage Works Conveyancing Panel. Is it possible for me to continue with my family solicitor notwithstanding that they are not on the The Mortgage Works list of approved lawyers?
Your options are as follows:
- Carry on with your preferred Beeston lawyers but The Mortgage Works will need to use a solicitor on their panel. This will result in additional overall conveyancing fees as well as result in frustration.
- Get a new lawyer to act in the purchase, remembering to check they are Persuade your solicitor to do everything within their powers to join the The Mortgage Works conveyancing panel
Do I choose a Licenced Conveyancer or Solicitor for conveyancing in Beeston?
There are many registered licenced Conveyancers in Beeston and Solicitor partnerships in Beeston who provide Conveyancing services We would stress that the two are supervised by regulatory bodies with both specialising in the legal work in the home buying process. Both can conduct associated property related work such as remortgage conveyancing, lease extensions and transfer of equity conveyancing.
I am helping my step-mother sell her property in Beeston. Does the conveyancing solicitor commission the EPC or it is for the seller to see to?
After the abolition of HIPs, energy performance certificates became a mandatory part of moving property. An energy performance certificate needs to be commissioned in advance of the property being put on the market. It is not something that law firms normally arrange. Where you are using a Beeston conveyancing practitioner they might be willing to arrange energy performance certificates given their relationships with reputable Beeston providers
I have a mortgage with Virgin Money for my property in Beeston. Conveyancing was finalised 12 months ago. If I am intending to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Virgin Money?
Your original mortgage agreement with Virgin Money will provide that you need their approval in advance of renting your property as this is likely to be a breach of Virgin Money’s mortgage conditions. In many cases banks or building societies will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Virgin Money directly. It should not be necessary to do this via a Virgin Money conveyancing panel solicitor.
What will a local search tell me concerning the property my wife and I purchasing in Beeston?
Beeston conveyancing often commences with the submitting local authority searches directly from your local Authority or through a personal search organisations for instance Xpress Legal The local search plays an important role in most Beeston conveyancing purchase; as long as you wish to avoid any unpleasant surprises after you move into your new home. The search should supply information on, amongst other things, details on planning applications relevant to the premises (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of thirteen subject sections.
Over the last few months I have been searching for a leasehold apartment up to £235,500 and identified one near me in Beeston I like with open areas and transport links nearby, the downside is that it's only got 49 years on the lease. I can't really find anything else in Beeston in this price bracket, so just wondered if I would be making a grave error purchasing a lease with such few years left?
Should you require a mortgage the shortness of the lease may be problematic. Discount the offer by the anticipated lease extension will cost if it has not already been discounted. If the existing owner has owned the premises for a minimum of twenty four months you can request that they commence the lease extension formalities and pass it to you. You can add 90 years to the current lease term with a zero ground rent applied. You should consult your conveyancing solicitor about this.
There are only Fifty years remaining on my lease in Beeston. I am keen to get lease extension but my freeholder is can not be found. What options are available to me?
On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be granted an extra 90 years by the magistrate. However, you will be required to demonstrate that you or your lawyers have made all reasonable attempts to find the lessor. In some cases an enquiry agent would be useful to carry out a search and prepare a report which can be used as evidence that the freeholder is indeed missing. It is wise to seek advice from a conveyancer both on proving the landlord’s absence and the application to the County Court overseeing Beeston.
I am the registered owner of a garden flat in Beeston, conveyancing was carried out 3 years ago. How much will my lease extension cost? Comparable properties in Beeston with over 90 years remaining are worth £206,000. The average or mid-range amount of ground rent is £45 yearly. The lease ends on 21st October 2091
With just 66 years remaining on your lease we estimate the premium for your lease extension to span between £12,400 and £14,200 plus professional fees.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to advice on the actual costs without more comprehensive investigations. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information without first seeking the advice of a professional.