It is 10 years ago since I acquired my house in Grasmere. Conveyancing lawyers have recently been appointed on the sale but I can't track down the title deeds. Is this a major issue?
You need not be too concerned. First there is a possibility that the deeds will be retained by the lender or they could still be with the solicitor who handled your purchase. Secondly in most cases the title will be recorded at the land registry and you will be able to establish that you are the registered owner by your conveyancing lawyers acquiring up to date copy of the land registers. Almost all conveyancing in Grasmere involves registered property but in the rare situation where your home is not registered it is more problematic but is resolvable.
We are expecting a mortgage offer soon. The bank mentioned the home loan came with free conveyancing. Does this mean I have to instruct their panel conveyancer as I would much rather use a Grasmere based conveyancing firm?
Do check but the the likelihood is that give you one of their panel conveyancers if you want the "fee-free" offer. Call the lender and check if they allow a monetary alternative. It is not unheard for a lender to give a £250 cashback as an alternative in which case you could put that amount towards the cost for your conveyancing solicitor near Grasmere.
Do I find a Licenced Conveyancer or Solicitor for conveyancing in Grasmere?
There are many registered licenced Conveyancers in Grasmere and Solicitor firms in Grasmere offering conveyancing It is important to make clear that the two are regulated professionals specialising in the legal work in transferring property. They may both also deal with other property legal work such as remortgage conveyancing, enfranchisement and transfer of equity conveyancing.
I happen to be the single beneficiary of my late mum's estate with all property in now in my sole name, including the my former home in Grasmere. Conveyancing formalities meant that the Land Registry date was in January. I now wish to sell up. I do know about the CML six month 'rule', meaning my proprietorship may be regarded the same way as if I'd bought the property in January. Will no one buy the property for half a year?
The Council of Mortgage Lenders’ handbook obliges conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you may be impacted by that. many mortgage companies would take a practical view as this provision is chiefly there to capture the purchase and immediately sell or the quick reselling of properties.
I can not work out if my bank requires a lease extension. I have called my Grasmere building society branch on various occasions and was advised it wasn't a problem and they would lend. My Grasmere conveyancing solicitor - who is on the bank conveyancing panel- called to say that they will not lend based on their published requirements. I have no idea who is right.
Provided that the lawyer is on the mortgage company panel, they must follow the Council of Mortgage Lenders’ Handbook provisions for the 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 lender to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
I am buying a new build apartment in Grasmere. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.
Set out below are examples of a few leasehold new build enquiries that you should expect your new-build leasehold conveyancing in Grasmere
-
There must be mutual enforceability of lessee’s covenants. The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. Please provide evidence that the form of Lease proposed has been approved by the Land Registry. If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. Please supply a car parking plan.
Yesterday I discovered that there is a flying freehold element on a property I have offered on two weeks back in what was supposed to be a simple, no chain conveyancing. Grasmere is the location of the property. What do you suggest?
Flying freeholds in Grasmere are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Grasmere 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 Grasmere 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 premises.
I am in need of some leasehold conveyancing in Grasmere. Before I set the wheels in motion I would like to find out the number of years remaining on the lease.
If the lease is recorded at the land registry - and most are in Grasmere - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
I invested in buying a 1 bedroom flat in Grasmere, conveyancing having been completed in 2009. Can you shed any light on how much the price could be for a 90 year extension to my lease? Corresponding properties in Grasmere with an extended lease are worth £170,000. The ground rent is £50 charged once a year. The lease ceases on 21st October 2105
You have 79 years remaining on your lease the likely cost is going to range between £7,600 and £8,800 as well as legals.
The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs without more comprehensive investigations. You should not use the figures in a Notice of Claim or as an informal offer. There may be other concerns that need to be considered 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 without first seeking the advice of a professional.