I had intended to instruct a property lawyer in Chantry for our home move. Our broker has since advised us that our mortgage lenders Nationwide Building Society won't deal with them. Why is this not regarded as unfair competition?
A mortgage company can insist on a panel conveyancer act for it. You would be expected to bear the charges for this. Do use our tool to find a solicitor to carry conveyancing in Chantry on the Nationwide Building Society conveyancing panel.
My conveyancer has informed me that restrictive coveneant insurance is necessary on my purchase. What is the typical level of cover needed for conveyancing in Chantry?
The right level of restrictive coveneant indemnity insurance depends on your lender. It would differ for example between Nationwide Building Society and The Mortgage Works. Conveyancing solicitors as opposed to borrowers take out such policies.
I have paid off my mortgage with Coventry BS. I assume I don't need a Chantry solicitor on the Coventry BS panel to discharge the mortgage at the Land Registry. Am I right?
If you have finished paying off your Coventry BS 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 Coventry BS mortgage from the register. Coventry BS, 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 Coventry BS has sent the Land Registry the discharge electronically, and
- Coventry BS has instructed the Land Registry to do so
The mortgage over my property is with Yorkshire BS for my property in Chantry. Conveyancing was finalised 12 months ago. In the event that I decide to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Yorkshire BS?
Your original mortgage agreement with Yorkshire BS will provide that you need their approval in advance of letting out your property as this is likely to be a breach of Yorkshire BS’s mortgage conditions. It may be that Yorkshire BS 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 Yorkshire BS directly. It should not be necessary to do this via a Yorkshire BS conveyancing panel solicitor.
I am looking for a leasehold apartment up to £235,500 and identified one close by in Chantry I like with amenity areas and railway links nearby, the downside is that it's only got 61 remaining years left on the lease. I can't really find anything else in Chantry in this price bracket, so just wondered if I would be making a grave error acquiring a short lease?
If you require a mortgage the shortness of the lease will likely be an issue. Discount the offer by the expected lease extension will cost if not already taken into account. If the current owner has owned the property for at least 2 years you can ask them to start the process of the extension and then assign 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 concerning this.
How does the Landlord & Tenant Act 1954 impact my business property in Chantry and how can you help?
The 1954 Act affords a safeguard to commercial tenants, granting the legal entitlement to make a request to court for a new tenancy and continue in occupation when the lease reaches an end. There are limited grounds that a landlord can refuse a lease renewal and the rules are complicated. Fees are different for commercial conveyancing. Chantry is one of the many areas of the UK in which our lawyers are based
I am a couple of weeks into a residential purchase having been directed to solicitors by the high street agent to handle our conveyancing in Chantry. I am am extremely dissatisfied with the quality of service. Could you help me find new conveyancers?
They would need to be really poor to suggest diss instructing them. Has your mortgage been issued? In the event that it has you will need to make them aware of the replacement lawyer and ensure the offer are re-sent. The solicitor ideally needs to be on the mortgage company approved list to avoid added fees and frustration. So that should be your first question of the new solicitors. Our find a solicitor tool will assist you in finding a lender approved solicitor for your home move in Chantry
There are only 62 years remaining on my flat in Chantry. I need to extend my lease but my landlord is can not be found. What are my options?
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 for permission to dispense with the service of the initial notice. This will mean that your lease can be granted an extra 90 years by the Court. However, you will be required to prove that you have made all reasonable attempts to track down the lessor. On the whole a specialist would be helpful to conduct investigations and to produce a report which can be used as proof that the landlord can not be located. It is advisable to get professional help from a conveyancer both on investigating the landlord’s disappearance and the application to the County Court covering Chantry.
Leasehold Conveyancing in Chantry - Examples of Questions you should consider Prior to buying
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Is there a share of the freehold? This information is useful as a) areas may result in problems for the block as the communal areas may begin to deteriorate where services are not paid for b) if the tenants have an issue with the managing agents you will need to know about it Its a good idea to discover as much as you can concerning the company managing the building as they will impact your use and enjoyment of the property. As the proprietor of a leasehold property you will be in the clutches of the managing agents both financially and when it comes to every day matters like the cleanliness of the common parts. Don't be shy to ask prospective neighbours what they think of them. On a final note, investigate as to the dates that you are obliged pay the maintenance charge to the relevant party and precisely how they are spending the funds.