It is a dozen years since I purchased my property in Hook Norton. Conveyancing lawyers have recently been retained on the sale but I am unable to track down my deeds. Will this cause complications?
You need not be too concerned. Firstly there is a chance that the deeds will be kept by your lender or they could still be with the conveyancers who handled the purchase. Secondly the chances are that the land will be registered at the land registry and you will be able to prove you are the registered owner by your conveyancing lawyers procuring up to date copy of the land registers. Almost all conveyancing in Hook Norton involves registered property but in the rare situation where your property is unregistered it adds to the complexity but is not insurmountable.
We expect to receive a DIP from Yorkshire BS this week so we can work out what to offer on a property we like as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc). Do Yorkshire BS recommend any Hook Norton solicitors on the Yorkshire BS conveyancing panel, or is it better to go independently?
You will need to appoint Hook Norton solicitors independently although you'll need to choose one on the Yorkshire BS conveyancing panel. The solicitor represents both you and Yorkshire BS through the process.
My partner and I are at the point of looking at houses in Hook Norton and I am about to put in an offer. Should I already have a property lawyer in place at this point? I will be getting a home loan with RBS.
It would be advisable to start your search sooner rather than later. After you have chosen your lawyer and once your offer is accepted you can instruct them to work for you and forward their details on to the selling agent. As you are taking out a mortgage with RBS, ask your prospective lawyers if they are on the RBS conveyancing panel otherwise they can't do the mortgage legal work.
I have instructed a Hook Norton solicitor having made sure that they are on the Barclays conveyancing panel. Does my lawyer arrange the survey of the property?
Barclays will need an independent valuation of the property. Your lawyer will not arrange this. Usually Barclays will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. Your conveyancer will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by your Hook Norton postcode. As you are getting a mortgage with Barclays, you could contact them to see if they have a list of approved surveyors in Hook Norton.
The deeds to my property are lost. The lawyers who did the conveyancing in Hook Norton 5 years ago are no longer around. What are my next steps?
Assuming the title is registered the information relating to your proprietorship will be evidenced by the Land Registry under a Title Number. It is possible to carry out a search at the Land Registry, locate your house and obtain up to date copies of the property title for a small fee. Where the title is Leasehold then the Land Registry will in most cases hold a certified copy of the Registered Lease and again, a copy can be ordered for twenty pounds.
In sourcing the web for the term on line conveyancing in Hook Norton it shows results of numerous property lawyersin the area. With so much choice what is the best way to find the right solicitor for my move?
The ideal way of finding a suitable conveyancer is via trusted referral, so ask friends and family who have bought a property in Hook Norton or a respected estate agent or mortgage broker. Costs for conveyancing in Hook Norton vary, so it's a good idea to request a minimum of four quotes from different solicitors. Dont forget to clarify that the charges are guaranteed not to increase.
Do you have any top tips for leasehold conveyancing in Hook Norton with the purpose of saving time on the sale process?
- A significant proportion of the delay in leasehold conveyancing in Hook Norton can be avoided where you instruct lawyers the minute you market your property and request that they start to collate the leasehold information needed by the buyers’ solicitors. If you have carried out any alterations to the premises would they have required Landlord’s approval? Have you, for example installed wooden flooring? Most leases in Hook Norton state that internal structural changes or laying down wooden flooring require a licence issued by the Landlord approving such alterations. Should you fail to have the paperwork to hand you should not communicate with the landlord without checking with your solicitor before hand. If there is a history of any disputes with your landlord or managing agents it is very important that these are settled prior to the flat being marketed. The purchasers and their solicitors will be concerned about purchasing a property where there is an ongoing dispute. You may have to bite the bullet and pay any arrears of service charge or resolve the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You will still have to reveal details of the dispute to the buyers, but it is better to present the dispute as historic as opposed to ongoing. A minority of Hook Norton leases require Licence to Assign from the landlord. If this applies to your lease, it would be prudent to place the estate agents on notice to make sure that the purchasers obtain bank and professional references. The bank reference will need to confirm that the buyers are 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 buyers or their lawyers. You believe that you know the number of years left on your lease but it would be wise to verify this via your lawyers. A purchaser's lawyer will be unlikely to recommend their client to to exchange contracts if the remaining number of years is under 75 years. In the circumstances it is important at an as soon as possible that you identify whether the lease for your property needs extending. If it does, contact your solicitors before you put your property on the market for sale.
I invested in buying a garden flat in Hook Norton, conveyancing having been completed in 1996. Can you please calculate a probable premium for a statutory lease extension? Equivalent properties in Hook Norton with over 90 years remaining are worth £216,000. The ground rent is £50 charged once a year. The lease expires on 21st October 2093
With just 68 years left to run we estimate the premium for your lease extension to be between £9,500 and £11,000 plus legals.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to advice on a more accurate figure in the absence of detailed due diligence. You should not use the figures in tribunal or court proceedings. There may be additional issues that need to be considered and you obviously should be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information without first seeking the advice of a professional.
My hope is to acquire a garden maisonette in Hook Norton. Conveyancing lawyer has been waiting for, from the owner, building insurance paperwork. This morning I was advised that the seller must send the insurance documents for the flat above in addition. Why does my solicitor want to check the insurance for the flat above? Is it really required? We have been in hold for the previous month…
It is not unheard of in leasehold conveyancing in Hook Norton to find Conveyancing in Hook Norton in a minority of cases reveals that the lease obliges the tenant's to insure their individual flats as opposed to the freeholder insuring the whole block - which is clearly better. Do contact your lawyer but it would seem that your conveyancer is looking to establish that the whole building is insured. Insuring your residence is no help when it comes to rebuilding after a fire if the 1st floor cannot be rebuilt as a result of lack of insurance cover.