I require conveyancing for a flat in a relatively new development (five years built) in Minera. The vast majority the appartments are already occupied. Is it strictly necessary to order conveyancing searches as part of conveyancing in Minera?
If you getting a loan, your mortgage company will insist on some (many) of the searches so you'll have no choice. If not, then Minera conveyancing searches are optional. Your lawyer, will ’encourage’, perhaps in the strongest possible terms, that you should not go ahead without searches, but he or she is duty bound in this regard. One thing to bear in mind; if you are likely to sell the house one day, it may be of interest to your future buyer what the searches contain. Sometimes houses with no practical issues can still throw up adverse search results. But if you insist that your lawyer to proceed without searches then your lawyer will have to follow your instructions or ask you to appoint a different lawyer for your conveyancing in Minera.
My Solicitor in Minera has never been on on the Lloyds TSB Bank Approved Panel. Is it possible for me to use my prefered solicitor notwithstanding that they are not on the Lloyds TSB Bank panel?
The limited options open to you here include:
- Carry on with your existing Minera lawyers but Lloyds TSB Bank will need to retain a solicitor on their panel. This will inevitably rack up the overall legal fees and result in delays.
- Get a new practitioner to act in the conveyancing, not forgetting to check they are on the Lloyds TSB Bank panel
When it comes to lenders such as Co-operative, do Minera lawyers have to pay a fee to be on the conveyancing panel?
We are not aware of any bank fees to register on their list of approved firms, although some do levy an administration charge to deal with the processing of the conveyancing panel application.
I currently have a mortgage with Virgin Money for my property in Minera. Conveyancing has been completed 12 months ago. Should I wish to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Virgin Money?
Virgin Money must be informed of your intention in advance of letting out your property as this is likely to be a breach of Virgin Money’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 Virgin Money directly. It should not be necessary to do this via a Virgin Money conveyancing panel firm.
I was told two weeks ago that my mortgage has been agreed to by Leeds Building Society. Is it usual for Leeds Building Society to only issue the offer once my solicitor in Minera is approved on their conveyancing panel? Leeds Building Society have asked my solicitor to see a copy of their Professional Indemnity Insurance Schedule.
Mortgage companies tend not to not issue an offer until they have details of a lawyer on their panel. It can take a few weeks for Leeds Building Society to deal with your lawyer's application to be on the Leeds Building Society conveyancing panel. There's no guarantee that your solicitor will be accepted.
Due to the encouragement of my in-laws I had a survey completed on a property in Minera before appointing solicitors. I have been told that there is a flying freehold aspect to the house. Our surveyor has said that some lenders will not grant a mortgage on such a property.
It varies from the lender to lender. Lloyds has different instructions from Halifax. If you call us we can investigate further with the relevant lender. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Minera. Conveyancing will be smoother if you use a solicitor in Minera especially if they are acquainted with such properties in Minera.
I've recently bought a leasehold house in Minera. Do I have any liability for service charges for periods before my ownership?
In a situation where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I am the registered owner of a ground floor flat in Minera, conveyancing was carried out July 1996. Can you please calculate a probable premium for a statutory lease extension? Corresponding properties in Minera with an extended lease are worth £195,000. The ground rent is £45 invoiced every year. The lease expires on 21st October 2088
With 63 years left to run the likely cost is going to range between £16,200 and £18,600 as well as legals.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more comprehensive due diligence. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Neither should you move forward based on this information without first getting professional advice.
We are soon to buying a house in Minera. Conveyancing is not over but we would like keep our purchase price confidential from sites such as Rightmove. Is this achievable and how?
HMLR are legally required to note price sold information on the official title for residential properties nationwide including properties in Minera. The register of ownership is a public document, so the Land Registry would be breaching their statutory obligations excluded specific homes such as the property in Minera.
In essence you can ask the Land Registry to hide the price paid data yet the response would be a No.