I am buying a property in Chapel Allerton. A rare aspect is that the roof has a solar panel. TSB have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
As you are obtaining a mortgage with TSB your lawyer must comply with the formal instructions contained in Part two of UK Finance Lenders’ Handbook for TSB. The Council of Mortgage Lenders’ Handbook includes minimum provisions for solar panel roof-space leases, and lawyers are required to report to TSB where a lease fails to comply with these specifications. The provisions relate to the installation of panels on properties countrywide and is not isolated to Chapel Allerton.
I have paid off my mortgage with Co-operative. I assume I don't need a Chapel Allerton solicitor on the Co-operative panel to remove the mortgage at the Land Registry. Am I right?
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
The mortgage over my property is with Bank of Ireland for my property in Chapel Allerton. Conveyancing has been completed a year ago. If I am intending 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 Bank of Ireland?
Bank of Ireland must be informed of your intention in advance of letting out your property as this is likely to be a breach of Bank of Ireland’s mortgage conditions. It may be that Bank of Ireland 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 Bank of Ireland directly. You need not do this via a Bank of Ireland conveyancing panel firm.
I have recentlyfound out that Wolstenholmes have closed. They carried out my conveyancing in Chapel Allerton for a purchase of a leasehold flat 18 months ago. How can I check that my home is registered correctly in the name of the previous owner?
The quickest method to see if the premises is registered to you, you can carry out a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Chapel Allerton conveyancing specialists.
I'm purchasing my first flat in Chapel Allerton benefiting from help to buy. The builders would not reduce the price so I negotiated five thousand pounds worth of additionals instead. The property agent suggested that I not to tell my conveyancer about the side-deal as it could put at risk my mortgage with the bank. Is this normal?.
All lenders require a Disclosure of Incentives Form from the developer 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 property I have offered on a fortnight ago in what was supposed to be a straight forward, chain free conveyancing. Chapel Allerton is where the house is located. Can you shed any light on this issue?
Flying freeholds in Chapel Allerton are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Chapel Allerton you would need to get your solicitor to go through the deeds very carefully. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Chapel Allerton may decide 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.
In my capacity as executor for the will of my uncle I am disposing of a house in Monmouth but live in Chapel Allerton. My solicitor (who is 235 kilometers from mehas requested that I execute a stat dec prior to completion. Can you recommend a conveyancing practitioner in Chapel Allerton who can attest this legal document for me?
strictly speaking you are unlikely to need to have the documents attested by a conveyancing solicitor. Normally or notary public or qualified solicitor will be fine regardless of whether they are located in Chapel Allerton
Do you have any top tips for leasehold conveyancing in Chapel Allerton with the intention of expediting the sale process?
- A significant proportion of the delay in leasehold conveyancing in Chapel Allerton can be bypassed where you instruct lawyers the minute you market your property and ask them to collate the leasehold information needed by the buyers’ conveyancers. If you hold a share in a the freehold, you should make sure that you hold the original share document. Organising a duplicate share certificate can be a lengthy formality and delays many a Chapel Allerton home move. If a duplicate share is required, do contact the company officers or managing agents (where relevant) for this at the earliest opportunity. You believe that you know the number of years remaining on your lease but you should double-check via your lawyers. A purchaser's conveyancer will not be happy to advise their client to where the lease term is under 75 years. It is therefore essential at an early stage that you identify whether the lease for your property needs extending. If it does, contact your solicitors before you put your property on the market for sale. Many freeholders or managing agents in Chapel Allerton charge for providing management packs for a leasehold home. You or your lawyers should enquire as to the actual amount of the charges. The management information sought as soon as you have a buyer, thus accelerating the process. The average time it takes to receive management information is three weeks. It is the most frequent reason for frustration in leasehold conveyancing in Chapel Allerton.
I bought a basement flat in Chapel Allerton, conveyancing having been completed 9 years ago. Can you work out an approximate cost of a lease extension? Equivalent flats in Chapel Allerton with an extended lease are worth £191,000. The ground rent is £55 per annum. The lease terminates on 21st October 2079
With just 54 years left to run we estimate the premium for your lease extension to range between £31,400 and £36,200 plus legals.
The figure above a general guide to costs for extending a lease, but we are not able to provide a more accurate figure without more detailed due diligence. Do not use this information in tribunal or court proceedings. There are no doubt other concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information before getting professional advice.