My conveyancer has identified a defect with the lease for the apartment we are purchasing in Deddington. The seller’s lawyers have offered defective title insurance as a workaround. We are happy with insurance and will cover the costs. Our conveyancing practitioner says that he must check that the mortgage company is willing to move forward with this solution. Are we the client or is the lender?
Regardless of the fact that you have a mortgage offer from the mortgage company does not mean to say that the property will meet their specifications for the purposes of a mortgage. Your lawyer has to ensure that the lease has to comply with the UK Finance Lenders’ Handbook specifications. You and the mortgage company are the client. These conveyancing instructions have to be complied with.
My uncle passed away last year and as sole heir and executor I was left the property in Deddington. The house had a relatively small loan remaining of approximately £5k. I want to have the title changed into my name whilst I re-mortgage to Coventry BS, pay off the mortgage. Is this possible?
Where you plan to refinance then Coventry BS will require that you use a conveyancer on the Coventry BS 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 Coventry BS 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 Coventry BS mortgage is registered as a charge at the Land Registry.
We are purchasing a house and the conveyancer has identified Chancel Repair for which the property could be obligated to pay as it falls into the area of such a church. He has mentioned insurance. Is this strictly warranted for conveyancing in Deddington
Unless a prior purchase of the premises completed after 12 October 2013 you may assume that conveyancing practitioners delivering conveyancing in Deddington to continue to advocate a chancel search and or chancel repair liability policy.
Due to the guidance of my in-laws I had a survey completed on a property in Deddington in advance of appointing lawyers. I have been told that there is a flying freehold overhang to the property. Our surveyor has said that some banks tend refuse to give a loan on a flying freehold premises.
It varies from the lender to lender. HSBC has different instructions from Birmingham Midshires. Should you wish to telephone us we can look into this further via the relevant bank. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Deddington. Conveyancing may be slightly more expensive based on your lender's requirements.
I'm remortgaging my existing house to a BTL mortgage with The Royal Bank of Scotland and intend to use the remaining equity as a down payment on further house. The location we are looking at is Deddington. Will your lawyers be able to act for both sets of mortgage companies and tie in the conveyances?
Do use our comparison tool on this site to check that the lawyers are approved by both banks. Having checked that they are the lawyer should be able to connect the two transactions but you should have a chat with you solicitor and communicate your expectations and requirements.
My wife and I purchased a leasehold flat in Deddington. Conveyancing and Leeds Building Society mortgage are in place. A letter has just been received from someone saying they have taken over the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1993. The conveyancing solicitor in Deddington who previously acted has now retired. Do I pay?
The first thing you should do is make enquiries of the Land Registry to make sure that this person is indeed the registered owner of the freehold reversion. There is no need to instruct a Deddington conveyancing lawyer to do this as it can be done on-line for a few pound. Rest assured that regardless, even if this is the rightful landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I own a 2 bed flat in Deddington, conveyancing formalities finalised 5 years ago. Can you let me have an estimated range of the fair premium for a lease extension? Corresponding properties in Deddington with an extended lease are worth £185,000. The average or mid-range amount of ground rent is £65 yearly. The lease ends on 21st October 2085
With 60 years left to run the likely cost is going to be between £20,000 and £23,000 plus costs.
The figure above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more comprehensive due diligence. Do not use this information in a Notice of Claim or as an informal offer. There may be additional issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. You should not move forward based on this information before seeking the advice of a professional.