Am I correct in assuming that the fact that my solicitor in Milton is not identified on my bank's conveyancing panel that there is a problem with the quality of her work?
It would be unwise to jump to that conclusion. There are plenty of reasonable explanations. A recent report by the solicitors regulator revealed that over three quarters of law firms surveyed had been removed from at least one lender panel. The top 5 reasons are as follows: (1) lack of transactions (2) the lawyer is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. Should you be concerned you should contact the Milton conveyancing firm and ask them why they are no longer on the approved list for your mortgage company.
I am purchasing a property for cash in Milton. I have been living for the previous Seventeen years in Milton. Conveyancing searches are expensive. As I have knowledge of the area and road intimately should I not bother getting the solicitor to do all the conveyancing searches?
In the absence of a home loan, then almost all of the Milton conveyancing searches are optional. Your lawyer will try and steer you, perhaps strongly, that you should have searches carried out, but she has a professional duty to take that path of encouragement . Do consider; if you are likely to sell the house at a future date, it could be of relevance to your prospective purchaser what the searches determine. Sometimes properties with no practical issues can still reveal unexpected search results. A competent conveyancing solicitor in Milton will provide you some practical advice concerning this.
My grandfather passed away 10 months ago and as sole heir and executor I was left the property in Milton. The house had a small mortgage remaining of approximately £8000. I want to transfer the title deeds into my name whilst I re-mortgage to RBS, pay off the mortgage. Is this allowed?
If you plan to refinance then RBS will insist on your using a conveyancer on the RBS conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your RBS conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the RBS mortgage is registered as a charge at the Land Registry.
Me and my brother own a renovated Victorian house in Milton. Conveyancing lawyer represented me and Alliance & Leicester . I happened to do a free search for it on the Land Registry database and I saw two entries: the first freehold, another for leasehold under the exact same property. Is it worth asking Alliance & Leicester to clarify?
You should review 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 owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Milton 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 check the position with the conveyancing practitioner who conducted the work.
I decided to have a survey done on a house in Milton ahead of appointing conveyancers. I have been informed that there is a flying freehold aspect to the house. My surveyor has said that some lenders may refuse to grant a loan on such a premises.
It varies from the lender to lender. Bank of Scotland has different instructions from Nationwide. Should you wish to call us we can look into this further with the relevant mortgage company. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Milton. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Milton to see if the conveyancing costs will increase in light of this.
I am on look out for some leasehold conveyancing in Milton. Before I get started I would like to find out the number of years remaining on the lease.
If the lease is registered - and almost all are in Milton - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
I invested in buying a split level flat in Milton, conveyancing having been completed 9 years ago. Can you let me have an estimated range of the fair premium for a lease extension? Equivalent flats in Milton with over 90 years remaining are worth £195,000. The average or mid-range amount of ground rent is £45 invoiced annually. The lease expires on 21st October 2088
With 63 years unexpired we estimate the price of your lease extension to be between £16,200 and £18,600 as well as plus your own and the landlord's "reasonable" professional fees.
The suggested premium range above a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more detailed due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There may be additional concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. Please do not move forward based on this information without first getting professional advice.