I am considering applying for a Virgin Money mortgage for purchase of a new build (under development) in Marlborough with 60% loan to value. Is it compulsory to choose a solicitor on the conveyancing panel for Virgin Money ?
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 two solicitors involved, and it will undoubtedly be more expensive too.
Various online forums that I have visited warn that are the number one reason for stalling in Marlborough conveyancing transactions. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) published findings of a review by MoveWithUs that conveyancing searches do not feature within the top 10 causes of hindrances in the conveyancing process. Searches are not likely to feature in any holding up conveyancing in Marlborough.
Over the last few months I have been searching for a flat up to £235,500 and found one close by in Marlborough I like with a park and transport links nearby, however it only has 51 years unexpired on the lease. I can't really find anything else in Marlborough suitable, so just wondered if I would be making a grave error purchasing a short lease?
Should you need a mortgage that many years may be a potential deal breaker. Reduce the offer by the amount the lease extension will cost if it has not already been discounted. If the existing owner has owned the premises for at least twenty four months you may ask them to start the process of the extension and pass it to you. An additional ninety years can be extended on to the existing lease term with a zero ground rent applied. You should consult your conveyancing solicitor about this.
What does commercial conveyancing in Marlborough cover?
Marlborough conveyancing for business premises covers a broad range of guidance, supplied by qualified solicitors, relating to business property. By way of example, this area of conveyancing can cover the sale or purchase of freehold business premises or, more commonly, the assignment of existing business tenancies or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial mortgages and the termination of leases.
I need to appoint a conveyancing solicitor for some conveyancing in Marlborough. I have chance upon a web site which looks to be the perfect solution If it is possible to get all formalities completed via email that would be preferable. Should I be concerned? What should out be looking out for?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
My wife and I purchased a leasehold flat in Marlborough. Conveyancing and The Royal Bank of Scotland mortgage are in place. I have received a letter from someone claiming to own the freehold. It included a demand for arrears of ground rent dating back to 1991. The conveyancing solicitor in Marlborough who acted for me is not around. Do I pay?
The first thing you should do is contact the Land Registry to be sure that the individual claiming to own the freehold is indeed the new freeholder. You do not need to instruct a Marlborough conveyancing firm to do this as it can be done on-line for less than a fiver. Rest assured that regardless, even if this is the legitimate landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
Marlborough Conveyancing for Leasehold Flats - Sample of Questions you should consider before Purchasing
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How is the lease structured? What is the length of the lease? Is anyone aware of any major works on the horizon that will likely increase the maintenance costs?