Completed the sale of my flat in Newbury last October but my buyer keeps whats apping me complaining that his conveyancer needs to hear from mysolicitor. What are the post completion sale formalities following completion?
Following your sale your solicitor should forward the transfer deeds and all supplemental paperwork to the buyer’s solicitors. If applicable, your solicitor should also confirm that the mortgage has been discharged to the buyers lawyers. There are no post completion formalities unique to conveyancing in Newbury.
When it comes to lenders such as Lloyds, do Newbury property lawyers incur a fee to be on the conveyancing panel?
We are not aware of any lender fees to register on their list of approved firms, although some do charge an administration fee to deal with the processing of the conveyancing panel submission.
We were going to get a OIP from Nottingham this week so we know how much we could potentially offer as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc). Do Nottingham recommend any Newbury solicitors on the Nottingham conveyancing panel, or is it better to find our own lawyer?
You will need to appoint Newbury solicitors independently although you'll need to choose one on the Nottingham conveyancing panel. The solicitor represents both you and Nottingham through the process.
I have paid off my mortgage with RBS. I assume I don't need a Newbury solicitor on the RBS panel to remove the mortgage at the Land Registry. Please confirm.
If you have finished paying off your RBS mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the RBS mortgage from the register. RBS, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where RBS has sent the Land Registry the discharge electronically, and
- RBS has instructed the Land Registry to do so
I own a renovated Victorian property in Newbury. Conveyancing lawyer acted for me and Aldermore. I did a free Land Registry search last week and I saw a couple of entries: one for freehold, the second leasehold with the exact same property. Is it worth asking Aldermore to clarify?
You should assess 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 Newbury 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 mortgage companies. You can also question the position with your conveyancing solicitor who conducted the purchase.
Is it simple use the search tool to select a conveyancing solicitor in Newbury on the approved list for my bank?
1st select a lender such as Yorkshire Building Society, Leeds Building Society or Nottingham Building Society then choose your location a common one being Newbury. Conveyancing firms in Newbury and across England and Wales will then be identified.
My father-in-law has recommend that I use his conveyancers in Newbury. Do I take his recommendation?
Much as we are happy to recommend a Newbury conveyancing lawyer the best way to choose a conveyancing lawyer is to seek guidance from friends or family who have experience in using the firm that you are considering.
What are your top tips when it comes to appointing a Newbury conveyancing firm to deal with our lease extension?
When appointing a conveyancer for lease extension works (regardless if they are a Newbury conveyancing firm) it is most important that he or she should be familiar with the legislation and specialises in this area of work. We recommend that you make enquires with several firms including non Newbury conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. The following questions might be of use:
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What are the charges for lease extension work? If they are not ALEP accredited then why not?
I invested in buying a ground floor flat in Newbury, conveyancing was carried out in 2001. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Similar properties in Newbury with over 90 years remaining are worth £260,000. The ground rent is £45 charged once a year. The lease ends on 21st October 2099
With just 74 years remaining on your lease we estimate the price of your lease extension to range between £8,600 and £9,800 as well as plus your own and the landlord's "reasonable" 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 advice on a more accurate figure without more comprehensive due diligence. You should not use this information in tribunal or court proceedings. There may be additional issues that need to be considered and clearly you should be as accurate as possible in your negotiations. Neither should you move forward based on this information before seeking the advice of a professional.