It is is a decade since I purchased my home in Nayland. Conveyancing solicitors have now been retained on the sale but I can't find my title deeds. Will this cause complications?
You need not be too concerned. Firstly the deeds may be with the mortgage company or they may stored with the conveyancers who oversaw your purchase. Secondly in all probability the title will be recorded at the land registry and you will be able to prove you are the registered owner by your conveyancing lawyers acquiring up to date copy of the land registers. The vast majority of conveyancing in Nayland relates to registered property but in the unlikely event that your property is unregistered it adds to the complexity but is resolvable.
Can you clarify what the consequences are if my lawyer’s firm is expelled from the HSBC Solicitor panel ahead of completing my conveyancing in Nayland?
The first thing to point out is that, this is very unlikely to happen. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit at a cost.
The estate agent has sent us the confirmation of our purchase of a new build flat in Nayland. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.
Set out below are examples of a few leasehold new build enquiries that you should expect your new-build leasehold conveyancing in Nayland
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Please confirm the Lease plans are architect prepared. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? There must be mutual enforceability of lessee’s covenants. Please supply a car parking plan. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company?
Yesterday I discovered that there is a flying freehold element on a property I put an offer in last month in what should have been a straight forward, chain free conveyancing. Nayland is where the house is located. What do you suggest?
Flying freeholds in Nayland are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Nayland you must be sure that your lawyer goes through the deeds thoroughly. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Nayland 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.
There are only 62 years remaining on my lease in Nayland. I now want to get lease extension but my freeholder is can not be found. What are my options?
If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be extended by the magistrate. However, you will be required to demonstrate that you or your lawyers have used your best endeavours to find the freeholder. For most situations an enquiry agent should be helpful to carry out a search and to produce an expert document which can be accepted by the court as evidence that the freeholder can not be located. It is wise to seek advice from a conveyancer in relation to devolving into the landlord’s disappearance and the vesting order request to the County Court covering Nayland.
I am the registered owner of a ground floor flat in Nayland, conveyancing was carried out December 2005. Can you shed any light on how much the price could be for a 90 year extension to my lease? Equivalent properties in Nayland with an extended lease are worth £222,000. The ground rent is £50 invoiced annually. The lease ends on 21st October 2096
With only 71 years remaining on your lease the likely cost is going to range between £9,500 and £11,000 as well as legals.
The figure above a general guide to costs for extending a lease, but we are not able to provide a more accurate figure in the absence of detailed due diligence. You should not use this information in tribunal or court proceedings. There are no doubt additional issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. Neither should you move forward based on this information before seeking the advice of a professional.
My lawyer in Nayland is asking me for identification documents asserting that this forms part of his requirements as a conveyancer on the bank Solicitor panel. Is this right?
Anti-terror and anti-money-laundering rules require Nayland conveyancing solicitors and licensed conveyancers to verify the identity of the person or body they are dealing with before they can accept their conveyancing business. The Client Care letter that you need to sign will no doubt confirm this. Your lawyer is right that the bank also require certain documents to be viewed. If a you refuse to provide ID verification documents, your conveyancer would not be able to accept instructions from you. Your lawyer also has obligations to obtain certain documents in accordance with the bank's UK Finance Lenders’ Handbook requirements