The Isle of Sheppey conveyancing firm handling our Isle of Sheppey conveyancing has uncovered a discrepancy between the assumptions in the valuation report and what is in the conveyancing documents. My lawyer informs me that he is duty bound to ensure that the lender is OK with this discrepancy and is still content to lend. Is my lawyer’s course or action correct?
Your solicitor must comply with the UK Finance Lenders’ Handbook specifications which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for both parties.
A friend advised me that in buying a property in Isle of Sheppey there may be a number of restrictions affecting the ability to carry out external alterations to the property. Is this right?
There are a number of properties in Isle of Sheppey which have some sort of restriction or requirement of consent to carry out external changes. Part of the conveyancing in Isle of Sheppey should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
I have paid off my mortgage with Clydesdale. I assume I don't need a Isle of Sheppey solicitor on the Clydesdale panel to remove the mortgage at the Land Registry. Please confirm.
If you have finished paying off your Clydesdale 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 Clydesdale mortgage from the register. Clydesdale, 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 Clydesdale has sent the Land Registry the discharge electronically, and
- Clydesdale has instructed the Land Registry to do so
I have decided to exercise my right to buy my property in Isle of Sheppey off the council. I have a mortgage offer with Virgin Money. Conveyancing is not something I have any knowledge of. Can I proceed without a solicitor easily? I think we can but we keep being told I should have one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Virgin Money, you will need to appoint a solicitor on the Virgin Money conveyancing panel.
My colleague recommended that where I am purchasing in Isle of Sheppey I should carry out a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
A search of this type is occasionally quoted for as part of the standard Isle of Sheppey conveyancing searches. It is a large report of about 40 pages, listing and setting out significant information about Isle of Sheppey around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average House Prices, Crime statistics, Isle of Sheppey Education with maps and statistics, Local Amenities and other useful information concerning Isle of Sheppey.
I have justbeen informed that Stirling Law have closed. They carried out my conveyancing in Isle of Sheppey for a purchase of a leasehold apartment 18 months ago. How can I check that my home is in my name in the name of the previous owner?
The quickest method to see if the property is in your name, you can carry out a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Isle of Sheppey conveyancing specialists.
Yesterday I discovered that there is a flying freehold issue on a house I put an offer in last month in what was supposed to be a simple, chain free conveyancing. Isle of Sheppey is where the house is located. What do you suggest?
Flying freeholds in Isle of Sheppey are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Isle of Sheppey 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 Isle of Sheppey may ascertain 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.
My wife and I purchased a leasehold flat in Isle of Sheppey. Conveyancing and Skipton Building Society mortgage are in place. I have received a letter from someone claiming to own the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1993. The conveyancing solicitor in Isle of Sheppey who previously acted has long since retired. What should I do?
First contact HMLR to be sure that this person is indeed the registered owner of the freehold reversion. There is no need to instruct a Isle of Sheppey conveyancing solicitor to do this as you can do this on the Land Registry website for £3. You should note that in any event, even if this is the legitimate landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I purchased a garden flat in Isle of Sheppey, conveyancing was carried out half a dozen years ago. Can you work out an approximate cost of a lease extension? Comparable flats in Isle of Sheppey with a long lease are worth £170,000. The ground rent is £50 invoiced annually. The lease finishes on 21st October 2103
You have 78 years unexpired we estimate the premium for your lease extension to be between £7,600 and £8,800 plus legals.
The figure that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of detailed due diligence. Do not use this information in a Notice of Claim or as an informal offer. There may be additional issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. You should not move forward based on this information without first seeking the advice of a professional.