Why is leasehold purchase conveyancing in Custom House costs more?
In short, leasehold conveyancing in Custom House and elsewhere usually necessitates additional due diligence compared to freehold transactions. This includes lease investigation, corresponding with the landlord concerning the service of applicable notices, procuring current service charge and management information, procuring the freeholder’s consents and reviewing management accounts. The obligations on both the landlord and the tenant in the lease need to be studied by the buyer’s conveyancing team and read from beginning to end – regardless of the fact the lease has passed through many different property solicitors hands since it was first entered into.
My grandfather passed away six months ago and as sole heir and executor I was left the house in Custom House. The house had a small mortgage left on it of around £4500. I want to transfer the title deeds into my name whilst I re-mortgage to Virgin Money, pay off the mortgage. Is this possible?
Where you plan to refinance then Virgin Money will insist on your using a conveyancer on the Virgin Money conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Virgin Money conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Virgin Money mortgage is registered as a charge at the Land Registry.
What is the difference between a licensed conveyancer and conveyancing solicitor in Custom House
Two types of professional can conduct conveyancing in Custom House namely licenced conveyancers or solicitors. The two can provide the legal services that required to complete the disposal or purchase of property. They are both duty bound to carry out Custom House conveyancing on similar quality and guidelines so you can be sure that your conveyancing will be properly administered and that the requirements and procedures will be correctly followed.
My bid for a property was accepted at auction in Custom House. Conveyancing is necessary. What is next?
Now that you have legally bound yourself to purchase you will need to hire the services of a conveyancing lawyer soon as you are facing a pending deadline in which to complete the purchase. Every auction property will have a corresponding legal pack. This should include most,if not all of the documents that your solicitor will need. In the case of leasehold property the auction pack may contain a copy of the lease, management information and a sellers leasehold information form and other conveyancing documentation pertinent to a leasehold property. You must hand this to your appointed conveyancing solicitor ASAP. You also need to ensure that you have funds organised to complete the transaction on the set completion date.
I have decided to exercise my right to buy my property in Custom House off the council. I have a mortgage agreed with Co-operative. Conveyancing is not something I have any knowledge of. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Co-operative, you will need to appoint a solicitor on the Co-operative conveyancing panel.
Yesterday I discovered that there is a flying freehold element on a property I have offered on two weeks back in what should have been a straight forward, no chain conveyancing. Custom House is the location of the property. What do you suggest?
Flying freeholds in Custom House are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Custom House you would need to get your solicitor to go through the deeds thoroughly. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Custom House may ascertain 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.
Given that I am about to part with over three hundred thousand on a property in Custom House I would like to talk to a lawyer about myconveyancing before instructing the firm. Is this something that you can arrange?
Absolutely - we would be pleased to talk to you we do not take any clients on without you speaking to the lawyer who will be carrying out your property ownership legalities in Custom House.There is no ‘factory style conveyancing’ - every client is unique person, not a matter reference. The solicitors that we put you in touch with believe that the figure you are calculated and presented to you for your conveyancing in Custom House should be the figure that you end up paying.
Is it the case that all Custom House property lawyers on every bank conveyancing panel?
You can use our search tool or you can go into your local bank branch in Custom House. the probability is that they will know some good conveyancing solicitors in Custom House