Why do I have to pay up front when it comes to conveyancing in Castleton and Blacktown?
If you are buying a property in Castleton and Blacktown your solicitor will request that you to provide them with funds to cover the search fees. Ordinarily this is called for to cover the fees of the Local Authority Search. When the deposit is as part of the sale price then this should be required immediately in advance of exchange of contracts. Any further balance that is due will be payable a few days prior to the day of completion.
My wife and I have arranged a further advance on our mortgage from Nottingham as we intend to conduct renovations to our home in Castleton and Blacktown. Are we obliged to appoint a local Castleton and Blacktown solicitor on the Nottingham conveyancing panel to deal with the paperwork?
Nottingham don't usually require firms on their conveyancing panel to handle the formalities. If they do require any legal work then you would need to ensure that such a lawyer was on the Nottingham panel.
I had a mortgage agreed in principle with Clydesdale. Castleton and Blacktown conveyancing lawyers have been appointed. How long does it take for Clydesdale to send the offer to the conveyancer?
Some lenders take longer than others. Have Clydesdale completed the valuation? Have you advised Clydesdale as to your lawyers' details and checked that your lawyers are on the Clydesdale conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
The mortgage over my property is with Kent Reliance for my property in Castleton and Blacktown. Conveyancing was finalised months ago. Should I wish to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Kent Reliance?
Your original mortgage agreement with Kent Reliance will provide that you need their approval before renting your property as this is likely to be a breach of Kent Reliance’s mortgage conditions. It may be that Kent Reliance will permit you to let 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 Kent Reliance directly. You need not do this via a Kent Reliance conveyancing panel firm.
Over the last few months I have been searching for a ground for flat up to £195,000 and found one round the corner in Castleton and Blacktown I like with amenity areas and railway links nearby, however it's only got 52 remaining years left on the lease. There is not much else in Castleton and Blacktown for this price, so just wondered if I would be making a mistake acquiring a short lease?
Should you need a home loan that many years will be an issue. Reduce the offer by the expected lease extension will cost if not already taken into account. If the existing owner has owned the property for a minimum of 2 years you could request that they start the process of the extension and then assign it to you. You can add 90 years to the existing lease with a zero ground rent applied. You should speak to your conveyancing solicitor concerning this.
We are a couple of weeks into a leasehold purchase having been directed to a firm by the local agent to perform conveyancing in Castleton and Blacktown. We are not happy. Could you help me find new conveyancers?
They would need to be very bad to suggest replacing them. Has your mortgage been generated? In the event that it has you will need to make them aware of the new contact details and ensure the mortgage documents are issued to the new lawyers. Your new conveyancer should be on the lenders panel to avoid added fees and frustration. So that should be your first question of the new lawyers. Our find a solicitor tool should help you find a lender approved conveyancer for your home move in Castleton and Blacktown
My wife and I purchased a leasehold flat in Castleton and Blacktown. Conveyancing and Chelsea Building Society mortgage organised. A letter has just been received from someone claiming to own the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1993. The conveyancing practitioner in Castleton and Blacktown who acted for me is not around. Any advice?
First make enquiries of HMLR to be sure that the individual purporting to own the freehold is in fact the new freeholder. It is not necessary to incur the fees of a Castleton and Blacktown conveyancing lawyer to do this as you can do this on the Land Registry website for a few pound. You should note that in any event, even if this is the rightful landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I invested in buying a split level flat in Castleton and Blacktown, conveyancing formalities finalised May 1997. Can you please calculate a probable premium for a statutory lease extension? Corresponding properties in Castleton and Blacktown with over 90 years remaining are worth £260,000. The average or mid-range amount of ground rent is £45 levied per year. The lease ceases on 21st October 2099
With 74 years remaining on your lease we estimate the premium for your lease extension to span between £8,600 and £9,800 as well as costs.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to provide a more accurate figure in the absence of detailed investigations. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information without first getting professional advice.
The mortgage broker has recommended their solicitor for our conveyancing in Castleton and Blacktown - won’t it be better to just use them?
You need to establish if the estate agent is recommending a lawyer or introducing to a property lawyer. There are plenty of Castleton and Blacktown estate agents who recommend two or three Castleton and Blacktown conveyancing firms purely based on those lawyers offering a great service.