I have paid off my mortgage with Bank of Ireland. I assume I don't need a Greystones conveyancing practitioner on the Bank of Ireland panel to remove the mortgage at the Land Registry. Am I right?
If you have finished paying off your Bank of Ireland 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 Bank of Ireland mortgage from the register. Bank of Ireland, 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 Bank of Ireland has sent the Land Registry the discharge electronically, and
- Bank of Ireland has instructed the Land Registry to do so
The formalities of my purchase has taken place for my property in Greystones. Conveyancing was of an acceptable standard but I feel I should register my dissatisfaction about the lender. Who do I contact should I wish to lodge a complaint?
Almost all banks and building societies have complaints procedures. Your first port of call should be one of the lender’s branches or the Customer Care Department at head office. Ordinarily complaints to a lender are resolved very quickly. If you feel the matter is not resolved you can write to Financial Ombudsman Service with full details of your complaint.
TSB have agreed my mortgage in principle, my offer on a property in Greystones has been accepted, what are the next steps?
Your property agent will wish to be informed of your property lawyer's details (be sure the solicitors are on the bank’s panel). Call up TSB or your broker and complete any appropriate paperwork. TSB will sellect a valuer who will get in touch with the estate agent or seller to schedule a time for the valuation to happen. Once conducted (assuming no problems) it takes on average a week to get a mortgage offer. TSB will send the offer to you and your lawyers. The transaction will then take it’s course according the nature and complexity of the conveyancing in Greystones.
I own a 4 bedroom Victorian property in Greystones. Conveyancing lawyer acted for me and Barclays Direct. I did a free Land Registry search last week and I saw two entries: the first freehold, another for leasehold with the exact same property. Is it worth asking Barclays Direct to clarify?
You need to read the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Greystones and other locations in the country and poses no real issues for owners other than when they sell they have to account for both freehold and leasehold interests when dealing with purchasers. You can also check the situation with the conveyancing solicitor who conducted the purchase.
I'm purchasing a new build house in Greystones with a loan from Coventry Building Society. The sellers would not reduce the price so I negotiated 6k of extras instead. The sale representative advised me not inform my lawyer about this side-deal as it may jeopardize my mortgage with the bank. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the UK Finance website. UK Finance form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
Due to the advice of my in-laws I had a survey completed on a house in Greystones ahead of appointing conveyancers. I have been told that there is a flying freehold overhang to the house. My surveyor has said that some lenders may refuse to issue a loan on a flying freehold house.
It depends who your proposed lender is. Bank of Scotland has different requirements from Birmingham Midshires. If you call us we can check with the appropriate lender. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Greystones. Conveyancing will be smoother if you use a solicitor in Greystones especially if they regularly deal with such properties in Greystones.
What does commercial conveyancing in Greystones cover?
Commercial conveyancing in Greystones incorporates a wide array of guidance, provided by regulated solicitors, relating to business property. By way of example, this area of conveyancing can cover the sale or purchase of freehold business premises or, more commonly, the assignment of existing leases or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial mortgages and the termination of tenancies.
I've found a house that seems to tick a lot of boxes, at a great figure which is making it all the more appealing. I have since found out that it's a leasehold as opposed to freehold. I am assuming that there are issues purchasing a house with a leasehold title in Greystones. Conveyancing advisers have are about to be instructed. Will my lawyers set out the implications of buying a leasehold house in Greystones ?
Most houses in Greystones are freehold and not leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can assist with the conveyancing process. It is clear that you are purchasing in Greystones in which case you should be shopping around for a Greystones conveyancing solicitor and check that they have experience in advising on leasehold houses. As a matter of priority you will need to check the unexpired lease term. As a tenant you will not be entirely free to do whatever you want to the property. The lease will likely included provisions for example requiring the landlord’spermission to conduct alterations. You may also be required to pay a service charge towards the upkeep of the communal areas where the property is part of an estate. Your solicitor will advise you fully on all the issues.
I own a studio flat in Greystones, conveyancing was carried out half a dozen years ago. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Similar properties in Greystones with an extended lease are worth £202,000. The average or mid-range amount of ground rent is £60 levied per year. The lease expires on 21st October 2083
With only 57 years left to run we estimate the premium for your lease extension to be between £28,500 and £33,000 plus plus your own and the landlord's "reasonable" professional fees.
The figure above a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of comprehensive due diligence. You should not use this information in tribunal or court proceedings. There may be other concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Neither should you move forward based on this information without first seeking the advice of a professional.