It is is a decade since I purchased my house in Clowne. Conveyancing solicitors have now been retained on the sale but I am unable to track down my title deeds. Is this a problem?
You need not be too concerned. Firstly there is a possibility that the deeds will be with the mortgage company or they could stored with the solicitor who handled the purchase. Secondly in all probability the land will be recorded at the land registry and you will be able to establish that you are the registered owner by your conveyancing solicitors obtaining up to date copy of the land registers. The vast majority of conveyancing in Clowne involves registered property but in the unlikely event that your property is unregistered it is more of a problem but is not insurmountable.
I happen to be the single recipient of my late grandmother’s will with all property in now in my sole name, including the house in Clowne. The Clowne property was put into my name in April. I now wish to sell up. I understand that there is a CML six month 'rule', which means that my property ownership may be considered the same way as if I'd bought the house in April. Do I have to wait half a year to sell?
The CML handbook mandates conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you may be caught by that. How practical a view mortgage companies take of it, depend on the lender as this clause primarily exists to identify the purchase and immediately sell or the flipping of properties.
After shopping around on the internet I have found a Clowne conveyancer having made sure that they are on the Yorkshire BS conveyancing panel. Does my lawyer arrange the survey of the property?
Yorkshire BS will need an independent valuation of the property. Your lawyer will not arrange this. Usually Yorkshire BS will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. Your conveyancer will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by your Clowne postcode. As you are getting a mortgage with Yorkshire BS, you could contact them to see if they have a list of approved surveyors in Clowne.
After what seems like an age I have had an offer on a maisonette in Clowne agreed to, the vendors do nevertheless have a tied purchase. The owners have offered on a flat, however it’s not been accepted yet, and have viewings of other flats booked. I have chosen a high street conveyancing solicitor in Clowne. What do I do now? At what stage do I apply for the mortgage with Coventry BS?
It is normal to have anxieties where there is a chain as you are unlikely to want to be too out of pocket too early (home loan application is in the region of one thousand pounds, then valuation, Clowne conveyancing search costs, etc). First, you should ensure that your lawyer is on the Coventry BS conveyancing panel. Regarding the next steps this very much depends on the circumstances of your case, desire for this property and on the state of the market. During a hot market some home buyers would apply for the mortgage with Coventry BS and pay for the valuation and only if it comes back ok would they request their conveyancing practitioner to proceed with the conveyancing in Clowne.
Despite weeks of looking the Title Certificate and documents to our home are lost. The lawyers who did the conveyancing in Clowne 5 years ago no longer exist. What are my next steps?
As long as the title is registered the details of your ownership will be retained by HMLR with a Title Number. It is possible to execute a search at the Land Registry, identify your property and order up to date copies of the Registered Entries for a small fee. Where the title is Leasehold then the Land Registry will usually hold a certified duplicate of the Registered Lease and again, a copy can be obtained for twenty pounds.
I am buying my first flat in Clowne with the aid of help to buy. The builders refused to budge the price so I negotiated £7000 of additionals instead. The property agent suggested that I not disclose to my lawyer about this extras as it may adversely affect my loan with the bank. 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 swap solicitor as I have to instruct one who is on the HSBC Bank conveyancing panel. I hired a family conveyancing solicitor in Clowne round the corner but the firm is not approved by HSBC Bank
We will our best to assist in finding you a conveyancing solicitor in Clowne on the HSBC Bank panel. Please note that the conveyancers that we work with do not pay us fee if you instruct them and are fully regulated by the Solicitors Regulation Authority who oversee all conveyancing solicitors in Clowne. In making use of search facility on this website, you can compare and instruct different solicitors and conveyancers both nationally and in Clowne.
What makes a Clowne lease unacceptable for security purposes?
Leasehold conveyancing in Clowne is not unique. All leases are drafted differently and drafting errors can result in certain clauses are erroneous. The following missing provisions could result in a defective lease:
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A provision to repair to or maintain elements of the premises A duty to insure the building
You will have difficulties when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Halifax, Bank of Scotland, and Platform Home Loans Ltd all have very detailed requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease does not cover certain provisions they may refuse to grant the mortgage, obliging the purchaser to pull out.
I acquired a 1st floor flat in Clowne, conveyancing formalities finalised 9 years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Comparable properties in Clowne with over 90 years remaining are worth £176,000. The ground rent is £50 invoiced every year. The lease finishes on 21st October 2105
With 80 years left to run the likely cost is going to span between £8,600 and £9,800 plus professional fees.
The figure above a general guide to costs for extending a lease, but we cannot give you the actual costs without more detailed due diligence. Do not use this information in tribunal or court proceedings. There are no doubt 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 take any other action placing reliance on this information before seeking the advice of a professional.