It is a dozen years since I acquired my property in Moulton. Conveyancing solicitors have now been instructed on the sale but I am unable to find my title deeds. Will this jeopardise the sale?
You need not be too concerned. First the deeds may be retained by your mortgage company or they could be archived with the conveyancers who handled the purchase. Secondly the likelihood is that the property will be registered at the land registry and you will be able to prove you own the property by your conveyancing solicitors obtaining up to date copy of the land registers. Most conveyancing in Moulton relates to registered property but in the unlikely event that your home is unregistered it is more of a problem but is not insurmountable.
we are a couple who are purchasing a newly converted flat in Moulton with a mortgage from Godiva Mortgages Ltd.We have a Moulton conveyancing practitioner but Godiva Mortgages Ltd says his firm is not on their "panel". we are left little option but to use a Godiva Mortgages Ltd panel lawyer or retain our preferred solicitor and fork out for a Godiva Mortgages Ltd panel lawyer to represent them. We feel as though this is unjust; Can we not simply insist that Godiva Mortgages Ltd use our lawyer?
Unfortunately,no. The mortgage issued to you is subject to its terms and conditions, one of which will be that solicitors must be on the Godiva Mortgages Ltd conveyancing panel. in the past, most mortgage companies had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your lawyer to apply to be on the conveyancing panel for Godiva Mortgages Ltd
Me and my partner are buying a property in Moulton. It might be a silly question but how we can trust a lawyer? On the day of competition we will need to send funds into their account. What is the protection we have from them run away with our deposit?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
I am purchasing a detached bungalow in Moulton. We would like to carry out a loft conversion at the property.Will the conveyancing process include investigations to determine if these works are prohibited?
Your property lawyer will review the deeds as conveyancing in Moulton will on occasion identify restrictions in the title documents which restrict certain changes or necessitated the consent of a 3rd party. Some extensions need local authority planning consent and approval under the building regulations. Many areas are designated conservation areas and special planning restrictions apply which often prevent or impact extensions. You should check these issues with a surveyor ahead of any purchase.
HSBC have agreed my mortgage in principle, my offer on a apartment in Moulton has been accepted, what are the next steps?
The estate agent will wish to know who your solicitors are (ensure that the solicitors are on the bank’s approved list). Call up HSBC or your financial adviser and finalise any appropriate paperwork. HSBC will instruct a valuer who will get in touch with the selling agent or vendor to schedule a slot for the valuation to occur. Once conducted (assuming no problems) it takes about a fortnight to receive the mortgage offer. HSBC will send the offer to you and your conveyancers. The transaction will then take it’s course according the nature and complexity of the conveyancing in Moulton.
Are there restrictive covenants that are commonly picked up during conveyancing in Moulton?
Restrictive covenants can be picked up when reviewing land registry title as part of the process of conveyancing in Moulton. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
I've recently found out that there is a flying freehold element on a house I put an offer in two weeks back in what was supposed to be a quick, no chain conveyancing. Moulton is the location of the property. Can you shed any light on this issue?
Flying freeholds in Moulton are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Moulton you must be sure that your lawyer goes through the deeds diligently. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Moulton may determine 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 property.
I am employed by a long established estate agency in Moulton where we have witnessed a few leasehold sales derailed due to short leases. I have been given conflicting advice from local Moulton conveyancing firms. Can you confirm whether the seller of a flat can commence the lease extension formalities for the purchaser on completion of the sale?
As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer need not have to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or simultaneously with completion of the disposal of the property.
Alternatively, it may be possible to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.
I inherited a 1 bedroom flat in Moulton, conveyancing was carried out in 2011. How much will my lease extension cost? Similar properties in Moulton with an extended lease are worth £191,000. The average or mid-range amount of ground rent is £55 invoiced every year. The lease ceases on 21st October 2078
With only 53 years left to run the likely cost is going to span between £27,600 and £31,800 plus professional fees.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we are not able to supply the actual costs without more detailed investigations. Do not use this information in a Notice of Claim or as an informal offer. There may be additional issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Neither should you take any other action based on this information before seeking the advice of a professional.