My fiance and I are intent on acquiring property in Blakelaw. My Solicitor has never been on on the mortgage company approved list. Is it possible for me to continue with my Blakelaw conveyancing solicitor even though they are not on the lender approved list?
One will need to have a solicitor to complete the formalities if you require a loan to buy your home. They will conduct all the necessary investigations on the property, make sure that you will be properly registered as the owner and ensure that all the necessary mortgage paperwork is dealt with. One may select a Blakelaw solicitor of your choosing. Nevertheless, if the conveyancer appointed is not on the bank approved list supplemental costs will be levied as separate legal representation will be need by the lender. Lender panel applications can be submitted, so where your conveyancer has not previously applied for membership they should do so.
I own a freehold residence in Blakelaw yet charged rent, why is this and what is this?
It is rare for properties in Blakelaw and has limited impact for conveyancing in Blakelaw but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges have existed for hundreds of years, but the Rent Charge Act 1977 barred the generation of fresh rentcharges post 1977.
Old rentcharges can now be extinguished by making a one off payment under the Act. Any rentcharges that are still in existence after 2037 is to be dispensed with completely.
My grandmother passed away last year and as sole heir and executor I was left the property in Blakelaw. The house had a relatively small loan left on it of around £5k. I want to transfer the title deeds into my name whilst I re-mortgage to Leeds Building Society, pay off the mortgage. Is this allowed?
Where you intend to re-mortgage then Leeds Building Society will insist on your using a conveyancer on the Leeds Building Society conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Leeds Building Society conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Leeds Building Society mortgage is registered as a charge at the Land Registry.
I have been advised by my conveyancer that lack of planning permission insurance is necessary on my purchase. What is the level of cover for Blakelaw conveyancing?
The right level of lack of planning permission indemnity insurance should be dictated by who who your lender is. It would differ for example between Birmingham Midshires and Virgin Money. Conveyancing solicitors as opposed to members of the public take out such policies.
Can I be sure that the Blakelaw conveyancing solicitor on the Nationwide panel is any good?
When it comes to conveyancing in Blakelaw obtaining recommendations is a sensible starting point. 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 advise that you speak with the solicitor carrying out your transaction.
I am due to exchange contracts on my flat. I had a double glazing fitted in December 2010, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's mortgage company, Nationwide are being a right pain. The Blakelaw solicitor who is on the Nationwide conveyancing panel is saying indemnity insurance will be fine but Nationwide are requiring a building regulation certificate. Why do Nationwide have a conveyancing panel if they don't accept advice from them?
It is probably the case that Nationwide have referred the matter to their valuer. The reason why Nationwide may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
The estate agent has sent us the confirmation of our purchase of a new build apartment in Blakelaw. 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 are examples of a few leasehold new build enquiries that you may expect your new-build leasehold conveyancing in Blakelaw
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Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. The Vendor must covenant to keep unoccupied units in good repair until long leases are granted therefore.
I am tempted by the attractive purchase price for a two maisonettes in Blakelaw both have in the region of forty five years left on the lease term. Will this present a problem?
There are plenty of short leases in Blakelaw. The lease is a right to use the premises for a prescribed time frame. As the lease shortens the saleability of the lease decreases and it becomes more expensive to acquire a lease extension. For this reason it is often a good idea to extend the lease term. It is often difficulties arise selling premises with a short lease as mortgage lenders may be reluctant to lend money on properties of this type. Lease extension can be a protracted process. We recommend you get professional help from a conveyancer and surveyor with experience in this arena.
I inherited a split level flat in Blakelaw, conveyancing formalities finalised 10 years ago. Can you work out an approximate cost of a lease extension? Similar flats in Blakelaw with an extended lease are worth £190,000. The average or mid-range amount of ground rent is £65 levied per year. The lease expires on 21st October 2086
With just 61 years left to run the likely cost is going to range between £19,000 and £22,000 as well as legals.
The figure that we have given is a general guide to costs for extending a lease, but we are not able to supply the actual costs without more comprehensive due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be considered and you obviously should be as accurate as possible in your negotiations. Neither should you take any other action based on this information without first seeking the advice of a professional.