I am in the process of refinancing my house in Lincolnshire, does my lawyer have to be on the Virgin Money Conveyancing panel?
There is nothing to stop you using your solicitor, but Virgin Money will insist on their interests being represented by a firm on their conveyancing panel. There is much more potential for delays and confusion with an additional lawyer added to the mix, and it will undoubtedly be more expensive too.
A friend informed me that in purchasing a property in Lincolnshire there could be a number of restrictions prohibiting external alterations to a property. Is this right?
There are anumerous of properties in Lincolnshire which have some sort of restriction or requirement of consent to execute external variations. Part of the conveyancing in Lincolnshire should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
I had a mortgage agreed in principle with Coventry BS. Lincolnshire conveyancing practitioners were instructed. How long does it take for Coventry BS to forward the offer to the conveyancer?
There is no definitive answer here. Have Coventry BS completed the valuation? Have you advised Coventry BS as to your lawyers' details and checked that your lawyers are on the Coventry BS conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
I have paid off my mortgage with Bank of Ireland. I assume I don't need a Lincolnshire solicitor on the Bank of Ireland panel to discharge the mortgage at the Land Registry. Please confirm.
If you have finished paying off your Bank of Ireland 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 Bank of Ireland mortgage from the register. Bank of Ireland, 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 Bank of Ireland has sent the Land Registry the discharge electronically, and
- Bank of Ireland has instructed the Land Registry to do so
Should my conveyancer be asking questions about flooding during the conveyancing in Lincolnshire.
The risk of flooding is if increasing concern for solicitors carrying out conveyancing in Lincolnshire. Some people will acquire a property in Lincolnshire, fully expectant that at some time, it may be flooded. However, leaving to one side the physical damage, where a house is at risk of flooding, it may be difficult to get a mortgage, adequate building insurance, or sell the premises. There are steps that can be taken during the course of a house purchase to forewarn the purchaser.
Conveyancers are not qualified to offer advice on flood risk, however there are a various checks that can be undertaken by the buyer or on a buyer’s behalf which should figure out the risks in Lincolnshire. The standard information given to a buyer’s conveyancer (where the solicitors are adopting what is known as the Conveyancing Protocol) contains a usual question of the vendor to determine if the premises has ever been flooded. In the event that the residence has been flooded in past which is not revealed by the owner, then a buyer could commence a legal claim for losses resulting from an inaccurate answer. The buyer’s conveyancers should also commission an enviro search. This should disclose if there is any known flood risk. If so, more detailed investigations should be initiated.
My wife and I have a semi-detached Edwardian property in Lincolnshire. Conveyancing practitioner acted for me and Barclays Direct. I happened to do a free search for it on the Land Registry database and there are a couple of entries: one for freehold, the second leasehold under the matching address. I thought I was buying a freehold how can I check?
You need to assess the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Lincolnshire and other areas of 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 buyers. You can also enquire as to the situation with your conveyancing lawyer who conducted the purchase.
I am attracted to a two maisonettes in Lincolnshire which have in the region of forty five years remaining on the leases. Should I regard a short lease as a deal breaker?
A lease is a right to use the property for a prescribed time frame. As the lease gets shorter the saleability of the lease decreases and results in it becoming more costly to extend the lease. For this reason it is often a good idea to increase the term of the lease. It is often difficulties arise selling premises with a short lease because mortgage lenders less inclined to grant a loan on properties of this type. Lease enfranchisement can be a protracted process. We recommend you get professional assistance from a conveyancer and surveyor with experience in this area.
Lincolnshire Leasehold Conveyancing - Sample of Queries Prior to Purchasing
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How many of the leaseholders are in arrears for their service charge payments? You should want to find out as much as you can regarding the company managing the block as they will impact your use and enjoyment of the property. Being a leasehold owner you are frequently in the clutches of the managing agents from a financial perspective and when it comes to every day matters such as the upkeep of the communal areas. Enquire of other people what they think of them. In conclusion, investigate as to the dates that the maintenance charges are due to the appropriate party and specifically what you get for your money. Who manages the building?
My offer on semi in Lincolnshire was agreed to, but there is a chain. The vendors have submitted an offer on somewhere, although it’s not been accepted yet, and are looking at other apartments booked. I have selected a nearby conveyancing lawyer in Lincolnshire. What should be my next step? When do I get the mortgage application with RBS started with RBS?
It is understandable to have concerns where there is a chain given your reluctance to be too out of pocket prematurely (home loan application is approx £1k, then survey, Lincolnshire conveyancing search costs, etc). The first course of action is to check that your solicitor is on the RBS conveyancing panel. Concerning the subsequent stages this very much dictated by the uniqueness of your case, desire for the property and on the state of the market. In a buoyant market some buyers will apply for a home loan with RBS and arrange for the valuation and only if it comes back ok would they request their conveyancing practitioner to proceed with searches.