I am in the process of remortgaging my property in Crewe, does my lawyer have to be on the Coventry BS Conveyancing panel?
In theory, you could use a solicitor that is not on the Coventry BS conveyancing panel, but Coventry BS would require one of their panel solicitors to be instructed to act in their interests, and you'd have to pay for this - so most people instruct a panel solicitor. It's also easier, as otherwise you'd have to deal with two solicitors for the same transaction.
I have today made my last payment due on my mortgage with Santander. I assume I don't need a Crewe property lawyer on the Santander panel to discharge the mortgage at the Land Registry. Please confirm.
If you have finished paying off your Santander 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 Santander mortgage from the register. Santander, 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 Santander has sent the Land Registry the discharge electronically, and
- Santander has instructed the Land Registry to do so
It is not clear whether my lender requires a lease extension. I have called my Crewe bank branch on numerous occasions and was reassured it wasn't a problem and they would lend. My Crewe conveyancing solicitor - who is on the lender conveyancing panel- telephoned to say that they refuse to lend based on their specific requirements. I simply don't know who is right.
The conveyancing practitioner has to follow the Council of Mortgage Lenders’ Handbook section two provisions for your bank. Unless your lawyer obtains specific confirmation in writing that the bank 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 bank to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
Intending to buy a maisonette in Crewe. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Coventry BS conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Crewe lawyer is on the Coventry BS conveyancing panel.
I have todaybeen informed that Arc property Solicitors have been shut down. They conducted my conveyancing in Crewe for a purchase of a freehold house 10 months ago. How can I establish that the property is not still registered in the name of the previous owner?
The quickest method to check if the premises is registered to you, you can make 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 Crewe conveyancing specialists.
I have been on the look out for a ground for flat up to £245,000 and identified one close by in Crewe I like with a park and railway links in the vicinity, however it only has 51 years unexpired on the lease. I can't really find anything else in Crewe suitable, so just wondered if I would be making a grave error purchasing a short lease?
If you need a mortgage the shortness of the lease may be an issue. Reduce the offer by the amount the lease extension will cost if not already taken into account. If the existing owner has owned the premises for a minimum of twenty four months you may ask them to start the process of the extension and then assign it to you. You can add 90 years to the existing lease term with a zero ground rent applied. You should speak to your conveyancing solicitor concerning this matter.
I need to appoint a conveyancing solicitor for remortgage conveyancing in Crewe. I've land on a site which seems to have the perfect answer If it is possible to get all formalities done via phone that would be preferable. Do I need to be wary? What are the potential pitfalls?
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 tempted by the attractive purchase price for a couple of flats in Crewe both have approximately 50 years unexpired on the lease term. Will this present a problem?
A lease is a legal document that entitles you to use the property for a period of time. As the lease shortens the marketability of the lease deteriorates and it becomes more costly to extend the lease. This is why it is generally wise to extend the lease term. Sometimes it is difficulties arise selling premises with a short lease as mortgage companies less inclined to grant a loan on properties of this type. Lease enfranchisement can be a protracted process. We recommend you seek professional help from a solicitor and surveyor with experience in this arena.
Crewe Conveyancing for Leasehold Flats - A selection of Queries before buying
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The best form of lease arrangement is if the freehold reversion is owned by the leaseholders. In this scenario the lessees enjoy being in charge if their destiny and notwithstanding that a managing agent is usually retained if the building is bigger than a house conversion, the managing agent acts for the leaseholders themselves. How much is the ground rent and service charge? It is important to be aware whether window replacement or some other major work is due shortly that will be shared between the leasehold owners and will dramatically increase the the maintenance fees or require a specific invoice.