I am need of leasehold conveyancing for an apartment in a relatively new development (seven years old) in Broughton. Almost all the flats are already occupied. Do I need carry out the conveyancing searches for my conveyancing in Broughton?
You would be putting yourself at risk in failing carrying out Broughton conveyancing searches. Without searches you have no clarity over flooding, environmental etc which may mean you walk away due to potential problems down the line. If you are buying without a mortgage there is no legal requirement to have them, but we would seriously advise in the strongest possible terms that you have them. If timings and expenses are primary concerns you should discuss with your lawyer about the options such as contingency insurance available to you
When it comes to mortgage companies such as Yorkshire BS, do Broughton lawyers have to pay a fee to be on the conveyancing panel?
We are unaware of any lender fees to register on their list of approved firms, although some do levy an administration fee to deal with the processing of the conveyancing panel submission.
I have today made my last payment due on my mortgage with Co-operative. I assume I don't need a Broughton conveyancing practitioner on the Co-operative panel to discharge the mortgage at the Land Registry. Please confirm.
If you have finished paying off your Co-operative mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Co-operative mortgage from the register. Co-operative, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Co-operative has sent the Land Registry the discharge electronically, and
- Co-operative has instructed the Land Registry to do so
It is not clear whether my lender requires a lease extension. I have called my Broughton building society branch on numerous occasions and was informed it wasn't an issue and they would lend. My Broughton conveyancing solicitor - who is on the mortgage company conveyancing panel- called to say that they would not lend in accordance with their UK Finance Lenders’ Handbook minimum lease term requirements. Who do I believe?
The property lawyer must comply with the CML Handbook Part 2 conditions for your bank. Unless your lawyer obtains specific confirmation in writing that the lender will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the mortgage company to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
I'm purchasing a new build house in Broughton with the aid of help to buy. The sellers refused to move on the amount so I negotiated 6k of additionals instead. The estate agent told me not disclose to my conveyancer about the extras as it may impact my mortgage with Birmingham Midshires. Is this normal?.
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.
Is it possible to change solicitor as I have to find one who is on the Santander conveyancing list. I had appointed a high street conveyancing solicitor in Broughton round the corner but she is not approved by Santander
It would be our pleasure to help you select a conveyancing solicitor in Broughton on the Santander panel. Please note that the conveyancers that we work with do not pay us commission if you instruct them and are authorised and regulated by the SRA who regulate all conveyancing solicitors in Broughton. In making use of search facility on this page, you can compare costs for conveyancing solicitors in Broughton and throughout England and Wales.
I need to appoint a conveyancing solicitor for leasehold conveyancing in Broughton. I happened to stumble across a site which looks to be the ideal offering If there is a chance to get all this stuff done via web that would be preferable. Do I need to be wary? What should out be looking out for?
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?
I am on look out for some leasehold conveyancing in Broughton. Before diving in I want to be sure as to the number of years remaining on the lease.
If the lease is recorded at the land registry - and most are in Broughton - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
I invested in buying a 1 bedroom flat in Broughton, conveyancing formalities finalised 4 years ago. Can you please calculate a probable premium for a statutory lease extension? Similar flats in Broughton with over 90 years remaining are worth £192,000. The ground rent is £55 yearly. The lease terminates on 21st October 2079
With only 54 years remaining on your lease we estimate the price of your lease extension to range between £32,300 and £37,400 plus legals.
The suggested premium range above a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of detailed due diligence. You should not use this information in tribunal or court proceedings. There may be additional issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Please do not move forward based on this information without first seeking the advice of a professional.