Me and my brother have a terraced Victorian house in Mountsorrel. Conveyancing solicitor represented me and Barclays Direct. I happened to do a free search for it on the Land Registry database and there are two entries: the first freehold, another for leasehold under the matching property. I'd like to know for sure, how can I find out??
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 Mountsorrel and other areas of the country and poses no real issues for owners other than when they buy they have to account for both freehold and leasehold interests when dealing with lenders. You can also check the position with your conveyancing solicitor who conducted the conveyancing.
I'm buying my first flat in Mountsorrel benefiting from help to buy. The sellers would not reduce the amount so I negotiated £7000 of extras instead. The sale representative told me not reveal to my conveyancer about this side-deal as it will affect my mortgage with the lender. Is this normal?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
Yesterday I discovered that there is a flying freehold issue on a house I have offered on two weeks back in what was supposed to be a straight forward, no chain conveyancing. Mountsorrel is the location of the property. Is there any guidance you can give?
Flying freeholds in Mountsorrel are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Mountsorrel you would need to get your solicitor to go through the deeds very carefully. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Mountsorrel 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 property.
We're novice buyers - agreed a price, but the selling agent advised that the seller will only issue a contract if we use the agent's preferred conveyancers as they are insisting on a ‘quick sale’. My instinct tells me that we should use a local conveyancer accustomed to conveyancing in Mountsorrel
We suspect that the seller is unaware of this request. Should the seller desire ‘a quick sale', alienating a motivated buyer is likely to cause more damage than good. Bypass the agents and go straight to the owners and make sure they understand (a)you are keen to buy (b)you are ready to go, with mortgage lined up © you do not need to sell (d) you intend to proceed fast (e)but you will continue to instruct your preferred Mountsorrel conveyancing lawyers - as opposed tothe ones that will give their estate agent a introducer fee or meet his conveyancing thresholds set by head office.
I’m about to sell my 2 bed apartment in Mountsorrel. Conveyancing lawyers have not yet been instructed, but I have recently received a yearly service charge demand – should I leave it to the buyer to sort out?
The sensible thing to do is clear the service charge as you normally would given that all rents and service invoices will be allotted on completion, so you should recover the relevant percentage by the purchaser for the period running from after the completion date to the next payment date. Most management companies will not acknowledge the buyer until the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.
I invested in buying a 1 bedroom flat in Mountsorrel, conveyancing formalities finalised 7 years ago. Can you let me have an estimated range of the fair premium for a lease extension? Comparable flats in Mountsorrel with over 90 years remaining are worth £186,000. The average or mid-range amount of ground rent is £55 charged once a year. The lease expires on 21st October 2078
With just 52 years unexpired we estimate the premium for your lease extension to range between £29,500 and £34,000 as well as legals.
The figure above a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of comprehensive investigations. You should not use the figures in a Notice of Claim or as an informal offer. There may be additional issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. You should not take any other action based on this information before seeking the advice of a professional.
I previously advised by my mortgage company that their panel solicitors work on no completion no charge basis for conveyancing in Mountsorrel. Our purchase fell through and now the lawyers want search fees! They say the fees are nothing to do with their fees!
Mountsorrel conveyancing search fees are separate expenses not solicitors costs as these are payable to a third party.