It is a dozen years since I bought my home in Mawsley. Conveyancing solicitors have now been instructed on the sale but I am unable to track down my title deeds. Is this a problem?
Don’t worry too much. First the deeds may be retained by the mortgage company or they may be in the possession of the lawyers who oversaw your purchase. Secondly in all probability the title will be registered at the land registry and you will be able to prove you own the property by your conveyancing solicitors procuring current official copies of the land registers. Nearly all conveyancing in Mawsley involves registered property but in the unlikely event that your property is unregistered it is more of a problem but is not insurmountable.
Do the Building Society Association intend to launch a searchable register to to identify firms on the Loughborough BS conveyancing panel for instance in Mawsley?
We are not aware of any plans on the part of the BSA to promote such a search facility.
How does conveyancing in Mawsley differ for newly converted properties?
Most buyers of new build premises in Mawsley approach us having been asked by the seller to exchange contracts and commit to the purchase even before the house is built. This is because house builders in Mawsley usually acquire the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Mawsley or who has acted in the same development.
I've recently found out that there is a flying freehold element on a house I have offered on last month in what was supposed to be a simple, no chain conveyancing. Mawsley is the location of the property. Can you shed any light on this issue?
Flying freeholds in Mawsley are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Mawsley you must be sure that your lawyer goes through the deeds diligently. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Mawsley 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.
Expecting to sign contracts shortly on a ground floor flat in Mawsley. Conveyancing lawyers have said that they are sending me a report within the next couple of days. Are there areas in the report that I should be focusing on?
Your report on title for your leasehold conveyancing in Mawsley should include some of the following:
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Information concerning the obligations as set out in the lease to to contribute towards maintenance costs - in relation to the building, and the wider rights a leaseholder enjoys The landlord’s rights to access the property. You should be made aware that your landlord has rights of access as well as be informed how much notice must be provided. You need to be told what is to be regarded as a Nuisance as far as the lease is concerned The physical ownership of the property. This will be the property itself but might include a roof area or cellar if relevant.
I am the registered owner of a 1 bedroom flat in Mawsley, conveyancing formalities finalised 3 years ago. Can you let me have an estimated range of the fair premium for a lease extension? Comparable flats in Mawsley with a long lease are worth £186,000. The ground rent is £55 levied per year. The lease runs out on 21st October 2077
You have 52 years unexpired we estimate the premium for your lease extension to be between £29,500 and £34,000 as well as costs.
The suggested premium range above a general guide to costs for extending a lease, but we are not able to supply the actual costs without more comprehensive investigations. Do not use the figures in tribunal or court proceedings. There may be additional concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information before getting professional advice.
Do online conveyancing companies do everything a local Mawsley solicitor does or do I still need to employ a solicitor for the final stages for my conveyancing in Mawsley?
If you use an online conveyancer they will cover all the tasks your Mawsley conveyancer would cover.