I am expecting a offer of a home loan from Nat West. I intend to use a Licensed Conveyancer in Groby and Ratby. Does the Nat West Conveyancing panel include Licensed Conveyancers?
The Nat West approved solicitor list is, like many other lenders, associated to the CML or Building Society Association, open to Licensed Conveyancers regulated by the CLC.
My aunt passed away 10 months ago and as sole heir and executor I was left the house in Groby and Ratby. The house had a relatively small loan left on it of around £8000. I want to transfer the title deeds into my name whilst I re-mortgage to Coventry BS, pay off the mortgage. Is this allowed?
Given you intend to re-mortgage 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.
I am close to exchanging contracts on the sale of our house in Groby and Ratby and the buyers lawyers are claiming that there is a possibility that the property was constructed on contaminated land. Any local conveyancer would know this is not the case. For the life of me I don't know why the buyers are using an internet conveyancing practice as opposed to a conveyancing solicitor in Groby and Ratby. We have lived in Groby and Ratby for six years we know of no issue. Do we contact our local Authority to obtain clarification need.
It sounds as though you may have a conveyancing lawyer currently acting for you. What do they say? You must check with your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same ailment)
About to purchase a new build flat in Groby and Ratby. 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 is a sample of a few leasehold new build enquiries that you should expect your new-build leasehold conveyancing in Groby and Ratby
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Forfeiture - bankruptcy or liquidation must not apply under this provision. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified. 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.
I opted to have a survey completed on a property in Groby and Ratby before appointing lawyers. I have been advised that there is a flying freehold element to the property. The surveyor advised that some lenders may not give a loan on such a home.
It varies from the lender to lender. Santander has different requirements from Nationwide. If you e-mail us we can investigate further with 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 Groby and Ratby. Conveyancing will be smoother if you use a solicitor in Groby and Ratby especially if they are acquainted with such properties in Groby and Ratby.
I've recently bought a leasehold house in Groby and Ratby. Am I liable to pay service charges for periods before my ownership?
In a situation where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I own a 2 bed flat in Groby and Ratby, conveyancing formalities finalised in 1995. Can you let me have an estimated range of the fair premium for a lease extension? Equivalent properties in Groby and Ratby with an extended lease are worth £170,000. The average or mid-range amount of ground rent is £50 invoiced every year. The lease ends on 21st October 2104
With just 79 years unexpired we estimate the price of your lease extension to range between £7,600 and £8,800 plus legals.
The suggested premium range above a general guide to costs for renewing a lease, but we are not able to advice on the actual costs without more comprehensive due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt other 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 without first getting professional advice.