We're in Lakenheath, FTBs purchasing with a mortgage (lender is Skipton , and our solicitor is on the Skipton conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Skipton conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no solicitor should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
Various internet forums that I have frequented warn that are the number one cause of obstruction in Lakenheath conveyancing transactions. Is that correct?
The Council of Property Search Organisations (CoPSO) released findings of a review by MoveWithUs that conveyancing searches do not figure within the most frequent causes of delays in the conveyancing process. Local searches are unlikely to feature in any delay in conveyancing in Lakenheath.
Me and my brother purchased a renovated Georgian house in Lakenheath. Conveyancing solicitor acted for me and Virgin Money. I happened to do a free search for it on the Land Registry database and there are two entries: one for freehold, another for leasehold with the matching address. Is it worth asking Virgin Money 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 Lakenheath and other locations in the country and poses no real issues for owners other than when they remortgage they have to account for both freehold and leasehold interests when dealing with purchasers. You can also enquire as to the position with your conveyancing lawyer who conducted the work.
Yesterday I discovered that there is a flying freehold issue on a house I have offered on a fortnight ago in what should have been a quick, no chain conveyancing. Lakenheath is where the house is located. Is there any advice you can give?
Flying freeholds in Lakenheath are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Lakenheath you would need to get your solicitor to go through the deeds diligently. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Lakenheath 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.
I own a leasehold house in Lakenheath. Conveyancing and The Royal Bank of Scotland mortgage organised. A letter has just been received from someone saying they have taken over the freehold. Attached was a ground rent demand for rent dating back to 1993. The conveyancing practitioner in Lakenheath who acted for me is not around. What should I do?
First make enquiries of HMLR to be sure that this person is indeed the new freeholder. There is no need to instruct a Lakenheath conveyancing practitioner to do this as it can be done on-line for £3. Rest assured 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 basement flat in Lakenheath, conveyancing having been completed half a dozen years ago. Can you give me give me an indication of the likely cost of a lease extension? Corresponding flats in Lakenheath with an extended lease are worth £222,000. The ground rent is £50 charged once a year. The lease ceases on 21st October 2095
With only 70 years unexpired we estimate the premium for your lease extension to be between £9,500 and £11,000 plus plus your own and the landlord's "reasonable" professional fees.
The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs without more comprehensive investigations. Do not use the figures in tribunal or court proceedings. There are no doubt other concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. Please do not move forward based on this information without first seeking the advice of a professional.
My uncle purchased his flat in Lakenheath 9 years ago. He has since got married, divorced and is now remarried. He now intends to the sell the Lakenheath property. I think he will just be need to provide a copy of his marriage certificates to the conveyancer but he is anxious it could delay the conveyancing. Should he appoint a conveyancer to update the title details for the property?
You are not required to update the title for the property as long as you have the proof required to show how the change of name has come about.
The purchaser’s conveyancer will examine the title details and request evidence to prove the change of name e.g. marriage certificates.