My house in Gurnard is up for sale and I have accepted an offer. Will my property lawyer need to be required to be on the Kent Reliance conveyancing panel in order to deal with redeeming my mortgage?
Ordinarily, even if your lawyer is not on the Kent Reliance conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their specifications fairly frequently at the moment.
My bid for a property was accepted at auction in Gurnard. Conveyancing is required. What happens now?
Having for all intents and purposes signed on the dotted line you must hire the services of a conveyancing solicitor as a matter of priority as you will have a fast approaching deadline in which to complete the conveyancing. Every auction property will have a bespoke legal pack. This will include the copy title deeds, local authority and drainage searches. If you have purchased leasehold premises the legal pack should include a copy of the lease, management information and a sellers leasehold information form and other conveyancing paperwork specific to a leasehold property. You should pass this on to your appointed conveyancing solicitor at the earliest opportunity. You also need to ensure that that you have the requisite funding organised to complete on the date specified in the contract.
My uncle pointed out to me me that in purchasing a property in Gurnard there could be various restrictions prohibiting external changes to a property. Is this right?
We are aware of anumerous of properties in Gurnard which have some sort of restriction or requirement of consent to external changes. Part of the conveyancing in Gurnard should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
Barclays have agreed my home loan in principle, my bid on a property in Gurnard has been agreed to, what happens next?
The property agent will wish to know who your solicitors are (ensure that the solicitors are on the lender’s approved list). Telephone Barclays or the broker and complete any appropriate documentation. Barclays will appoint a valuer who will get in contact with the selling agent or seller to arrange an appointment. Once conducted (assuming no problems) it takes approximately ten days for the mortgage offer to be issued. Barclays will issue the offer to you and your solicitors. The legal work will then take it’s course according the nature and complexity of the conveyancing in Gurnard.
Despite weeks of looking the Title Certificate and documents to my home can not be found. The conveyancers who did the conveyancing in Gurnard 5 years ago have long since closed. Will I be able to sell the house?
Assuming you have a registered title the information relating to your ownership will be held by the Land Registry under a Title Number. It is possible to perform a search at the Land Registry, find your property and secure current copies of the Registered Entries for a small fee. If the property is Leasehold then the Land Registry will in most cases retain a file copy of the Registered Lease and again, a copy can be ordered for £20 inclusive of VAT.
I decided to have a survey carried out on a house in Gurnard before retaining lawyers. I have been advised that there is a flying freehold element to the house. The surveyor advised that some mortgage companies tend not issue a loan on this type of premises.
It depends who your proposed lender is. Bank of Scotland has different requirements from Birmingham Midshires. If you e-mail us we can investigate further via the appropriate bank. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Gurnard. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Gurnard to see if the conveyancing will be more expensive.
Do you have any advice for leasehold conveyancing in Gurnard with the intention of speeding up the sale process?
- A significant proportion of the delay in leasehold conveyancing in Gurnard can be bypassed if you instruct lawyers as soon as your agents start marketing the property and request that they start to collate the leasehold documentation needed by the buyers’ solicitors. If you have had any disputes with your landlord or managing agents it is essential that these are resolved before the property is marketed. The buyers and their solicitors will be nervous about purchasing a property where there is a current dispute. You may need to swallow your pride and pay any arrears of service charge or resolve the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose details of the dispute to the buyers, but it is clearly preferable to reveal the dispute as over as opposed to unsettled. The majority of landlords or managing agents in Gurnard levy fees for providing management packs for a leasehold premises. You or your lawyers should find out the actual amount of the charges. The management pack can be applied for on or before finding a buyer, thus reducing delays. The average time it takes to receive management information is three weeks. It is the most frequent cause of frustration in leasehold conveyancing in Gurnard. A minority of Gurnard leases require Licence to Assign from the landlord. If this is the case, you should notify your estate agents to make sure that the purchasers obtain financial (bank) and professional references. The bank reference should make it clear that the buyer is financially capable of paying the annual service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the actual amount of the service charge so that they can pass this information on to the purchasers or their solicitors. If you hold a share in a the Management Company, you should ensure that you are holding the original share certificate. Organising a replacement share certificate can be a lengthy formality and delays many a Gurnard home move. If a reissued share certificate is necessary, do contact the company director and secretary or managing agents (where applicable) for this sooner rather than later.
I bought a split level flat in Gurnard, conveyancing having been completed in 2007. Can you please calculate a probable premium for a statutory lease extension? Similar properties in Gurnard with over 90 years remaining are worth £186,000. The average or mid-range amount of ground rent is £55 per annum. The lease terminates on 21st October 2079
With only 53 years remaining on your lease we estimate the premium for your lease extension to be between £27,600 and £31,800 plus plus your own and the landlord's "reasonable" professional fees.
The figure that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of detailed due diligence. You should not use this information 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. Please do not take any other action based on this information without first getting professional advice.
My conveyancing in Gurnard completes next Friday, however the people I am purchasing off wants to vacate the next day at noon. Do I accept such a idea?
If you require a mortgage then your lawyer will demand that the property isvacant on Friday - the mortgage company will insist on it.