I happen to be the only beneficiary of my late father’s estate and I have everything in my name now, including the my former home in Leiston. The Leiston property was put into my name in May. I now wish to sell up. I do know about the Mortgage Lenders six month 'rule', meaning my proprietorship will be treated the same way as though I had purchased the property in May. Will no one buy the property for half a year?
The Council of Mortgage Lenders’ handbook mandates solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you might be affected by that. Most mortgage companies would take a sensible view as this obligation principally exists to identify the purchase and immediately sell or the wholesaling and assigning of property.
When it comes to mortgage companies such as Bank of Ireland, do Leiston solicitors incur an annual charge to be on the conveyancing panel?
We are not aware of any bank fees to be on their panel, although some do charge an administration fee to deal with the processing of the conveyancing panel submission.
I have a mortgage with Aldermore for my property in Leiston. Conveyancing has been completed months ago. In the event that I decide to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Aldermore?
Aldermore must be informed of your intention in advance of renting your property as this is likely to be a breach of Aldermore’s mortgage conditions. In many cases banks or building societies will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Aldermore directly. It should not be necessary to do this via a Aldermore conveyancing panel firm.
Will commercial conveyancing searches reveal planned roadworks that may affect a commercial site in Leiston?
Many commercial conveyancing solicitors in Leiston will order a SiteSolutions Highways report as it dramatically cuts the time that conveyancers invest in looking into accurate data on highways that impact buildings and development assets in Leiston. The search result provides definitive information on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Leiston.
For each commercial conveyancing transaction in Leiston it is crucial to investigate the adoption status of roads surrounding a site. The absence of identifying developments where adoption procedures have not been addressed adequately may cause delays to Leiston commercial conveyancing deals as well as pose a risk to future intentions for the site. These searches are not carried out for domestic conveyancing in Leiston.
I have todayfound out that Wolstenholmes have closed. They conducted my conveyancing in Leiston for a purchase of a leasehold apartment 9 months ago. How can I establish that the property is in my name in the name of the previous owner?
The easiest way to check if the property is in your name, you can make 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 Leiston conveyancing specialists.
Yesterday I discovered that there is a flying freehold element on a house I have offered on last month in what should have been a simple, chain free conveyancing. Leiston is the location of the property. Can you offer any assistance?
Flying freeholds in Leiston are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Leiston you must be sure that your lawyer goes 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 Leiston may determine 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 property.
How easy is it to swap conveyancer as I need to choose one who is on the Barclays Direct conveyancing list. I instructed a family conveyancing solicitor in Leiston five minutes from me but he is not accepted by Barclays Direct
We will our best to assist in finding you a conveyancing solicitor in Leiston on the Barclays Direct panel. Please note that the law firms that we list do not pay us fee if you instruct them and are authorised and regulated by the Solicitors Regulation Authority who regulate all conveyancing solicitors in Leiston. In utilising the find a conveyancing solicitor tool on this website, you can contrast costs for conveyancing solicitors in Leiston and beyond.
Back In 2007, I bought a leasehold flat in Leiston. Conveyancing and Bank of Ireland mortgage are in place. A letter has just been received from someone claiming to own the freehold. It included a ground rent demand for rent dating back to 1993. The conveyancing solicitor in Leiston who acted for me is not around. Do I pay?
The first thing you should do is contact HMLR to be sure that the individual purporting to own the freehold is indeed the registered owner of the freehold reversion. It is not necessary to instruct a Leiston conveyancing practitioner to do this as it can be done on-line for a few pound. You should note that regardless, even if this is the legitimate landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I inherited a 1 bedroom flat in Leiston, conveyancing was carried out in 1997. Can you please calculate a probable premium for a statutory lease extension? Equivalent properties in Leiston with an extended lease are worth £190,000. The average or mid-range amount of ground rent is £45 invoiced annually. The lease comes to an end on 21st October 2087
With just 62 years remaining on your lease the likely cost is going to range between £17,100 and £19,800 as well as legals.
The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs in the absence of comprehensive investigations. Do not use the figures in a Notice of Claim or as an informal offer. There may be other issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information before getting professional advice.