It is is a decade since I purchased my property in Bromsgrove. Conveyancing solicitors have just been retained on the sale but I am unable to find the title documents. Will this cause complications?
You need not be too concerned. First the deeds may be with the mortgage company or they could be in the possession of the lawyers who handled the purchase. Secondly the likelihood is that the title will be registered at the land registry and you will be able to prove you are the registered owner by your conveyancing solicitors procuring current official copies of the land registers. The vast majority of conveyancing in Bromsgrove involves registered property but in the unlikely event that your property is not registered it adds to the complexity but is resolvable.
Have purchased a a terraced house in Bromsgrove , What is the estimated time for the Land Registry to deal with the formalities evidencing my proprietorship? My Bromsgrove conveyancing solicitor works at snail pace, so I want to check the registration is dealt with.
There is nothing unique when it comes to conveyancing in Bromsgrove registration formalities. Rather than based on location, timescales can differ depending on who lodges the application, whether there are errors and whether the Land registry must send notices to any other parties. At present in the region of three quarters of submission are fully dealt with within 12 days but occasionally there can be extensive delays. Registration takes place once the new owner is living at the premises therefore 'speed' is not typically primary concern yet if it is urgent that the the registration takes place urgently then you or your lawyers can speak with the land registry and explain the circumstances.
I'm buying a new build house in Bromsgrove with a loan from TSB. The developers refused to reduce the price so I negotiated five thousand pounds worth of additionals instead. The estate agent told me not inform my conveyancer about the deal as it may affect my mortgage with the bank. Should I keep quiet?.
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've recently found out that there is a flying freehold element on a house I put an offer in last month in what should have been a quick, chain free conveyancing. Bromsgrove is the location of the property. What do you suggest?
Flying freeholds in Bromsgrove are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Bromsgrove you must be sure that your lawyer goes through the deeds thoroughly. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Bromsgrove may ascertain 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 property.
I'm converting the mortgage on my existing house to a BTL loan with Bank of Ireland and intend to use the remaining equity as a down payment on a second property. The neighborhood we are interested in is Bromsgrove. Will your conveyancers be able to act for both sets of mortgage companies and tie in the transactions?
Do use our search tool on this page to be sure that the solicitors are on the relevant lender panels. Having checked that they are your solicitor should be able to connect the two deals but you should talk with you conveyancer and make clear your expectations and needs.
Can you offer any advice when it comes to choosing a Bromsgrove conveyancing firm to carry out our lease extension conveyancing?
If you are instructing a property lawyer for your lease extension (regardless if they are a Bromsgrove conveyancing practice) it is most important that they be familiar with the legislation and specialises in this area of conveyancing. We recommend that you talk with several firms including non Bromsgrove conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. The following questions might be helpful:
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Can they put you in touch with clients in Bromsgrove who can give a testimonial? What are the legal fees for lease extension work?
I own a basement flat in Bromsgrove, conveyancing having been completed December 1997. How much will my lease extension cost? Corresponding flats in Bromsgrove with over 90 years remaining are worth £222,000. The average or mid-range amount of ground rent is £50 levied per year. The lease runs out on 21st October 2095
With only 70 years left to run we estimate the price of your lease extension to span between £9,500 and £11,000 as well as professional fees.
The figure above a general guide to costs for renewing a lease, but we are not able to supply a more accurate figure without more detailed due diligence. Do not use the figures in tribunal or court proceedings. There are no doubt other issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information before getting professional advice.