My husband and I are hoping to buy a flat in Flamborough and have instructed a Flamborough conveyancing practice. Within the past 48 hours our property lawyer has sent a preliminary report and documents to look through in anticipation of exchanging contracts shortly. Barclays Direct have this evening contacted us to inform me that there is now an issue as our Flamborough lawyer is not on their approved list of lawyers. Is this a problem?
When purchasing a property with the benefit of a mortgage it is normal for the purchasers' lawyers to also represent the purchaser's lender. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Accreditation Scheme. Your solicitor should contact your mortgage company and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own lawyers to represent them. You don't have to instruct a firm on the bank's conveyancing panel as you are at liberty to use your preferred Flamborough lawyers, in which case your legal fees may increase, and it will likely delay the transaction as you are adding another lawyer into the mix.
My grandmother passed away last year and as sole heir and executor I was left the property in Flamborough. The house had a relatively small loan remaining of approximately £5k. I want to transfer the title deeds into my name whilst I re-mortgage to RBS, pay off the mortgage. Is this possible?
If you plan to re-mortgage then RBS will require that you use a conveyancer on the RBS 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 RBS 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 RBS mortgage is registered as a charge at the Land Registry.
Various online forums that I have frequented warn that are the primary reason for stalling in Flamborough house deals. Is that correct?
The Council of Property Search Organisations (CoPSO) has noted the findings of a review by MoveWithUs that conveyancing searches do not figure amongst the top 10 causes of delays during the legal transfer of property. Local searches are not likely to feature in any holding up conveyancing in Flamborough.
I've recently found out that there is a flying freehold issue on a house I have offered on two weeks back in what was supposed to be a quick, chain free conveyancing. Flamborough is the location of the property. Is there any guidance you can impart?
Flying freeholds in Flamborough are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Flamborough 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 Flamborough 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.
What tools are available to identify a Flamborough solicitor on the The Royal Bank of Scotland conveyancing panel? I have a car and am willing to travel upto 20miles to meet the lawyer.
Feel free to make use of the tool on this website. Please choose the bank and your location and you will see a number of Flamborough conveyancing lawyers locally. We have listed some Flamborough conveyancing firms at the bottom of this page and you can ring them to see if they are on the The Royal Bank of Scotland approved list
My wife and I purchased a leasehold house in Flamborough. Conveyancing and The Mortgage Works mortgage organised. A letter has just been received from someone saying they have taken over the freehold. Attached was a ground rent demand for rent dating back to 1991. The conveyancing practitioner in Flamborough who acted for me is not around. What should I do?
The first thing you should do is contact the Land Registry to make sure that the individual purporting to own the freehold is in fact the new freeholder. There is no need to instruct a Flamborough conveyancing lawyer to do this as you can do this on the Land Registry website for less than a fiver. You should note that in any event, even if this is the rightful freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I own a ground floor flat in Flamborough, conveyancing having been completed March 2012. Can you let me have an estimated range of the fair premium for a lease extension? Equivalent flats in Flamborough with over 90 years remaining are worth £186,000. The average or mid-range amount of ground rent is £55 per annum. The lease expires on 21st October 2078
You have 53 years left to run we estimate the price of your lease extension to range between £27,600 and £31,800 as well as plus your own and the landlord's "reasonable" professional fees.
The suggested premium range that we have given is a general guide to costs for extending 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 are no doubt additional concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. Neither should you take any other action based on this information without first seeking the advice of a professional.