Me and my partner are soon to complete on the purchase of a house in North Walsham but as a consequence of damage from the recent storms I have managed to agree compensation from the seller in the sum of £2k in the form of a reduction in the price. I had intended this to be dealt with as part of amending the contract however Virgin Money are not allowing this. Why were they informed?
Your conveyancing practitioner being on the Virgin Money conveyancing panel is obliged to advise Virgin Money of any changes to the sale price. If you prohibit your lawyer to notify the price change to Virgin Money then they would have to discontinue acting for you. In addition, Virgin Money and you would have to appoint a new property lawyer for your conveyancing in North Walsham.
Do I need to pop into the offices of the solicitor to sign the mortgage deed? If so, I will instruct a firm who offer conveyancing in North Walsham so that I can pop in to their offices if required.
Whereas this was necessary twenty years ago, the vast majority lenders no longer oblige their conveyancing panel solicitor to witness the mortgagors signature. You will still be obliged to supply identification documents and there are still distinct advantages to using a locally based practitioner, in your situation a conveyancing solicitor in North Walsham.
I am purchasing a 3 bedroom semi in North Walsham. The intention is to carry out an extension to the side at the house.Will legal investigations on the property involve checks to see if these works are prohibited?
Your property lawyer will check the registered title as conveyancing in North Walsham will sometimes reveal restrictions in the title documents which restrict categories of alterations or require the permission of a 3rd party. Some additions require local authority planning consent and approval in accordance building regulations. Many areas are designated conservation areas and special planning restrictions apply which often prevent or affect extensions. It would be sensible to check these issues with a surveyor ahead of any purchase.
I have paid off my mortgage with UBS. I assume I don't need a North Walsham solicitor on the UBS panel to discharge the mortgage at the Land Registry. Please confirm.
If you have finished paying off your UBS 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 UBS mortgage from the register. UBS, 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 UBS has sent the Land Registry the discharge electronically, and
- UBS has instructed the Land Registry to do so
After shopping around on the internet I have found a North Walsham lawyer having checked that they are on the TSB conveyancing panel. Does my lawyer arrange the survey of the property?
TSB will need an independent valuation of the property. Your lawyer will not arrange this. Usually TSB will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. You may wish to consider appointing your own North Walsham surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
I have a semi-detached Edwardian house in North Walsham. Conveyancing lawyer represented me and Bank of Scotland. I did a free Land Registry search last week and I saw two entries: one for freehold, the second leasehold with the exact same property. Is it worth asking Bank of Scotland to clarify?
You need to read 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 proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in North Walsham and other locations in 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 mortgage companies. You can also enquire as to the position with the conveyancing practitioner who conducted the conveyancing.
Over the last few months I have been searching for a flat up to £305k and found one round the corner in North Walsham I like with a park and station nearby, the downside is that it only has 49 years on the lease. I can't really find anything else in North Walsham for this price, so just wondered if I would be making a mistake purchasing a lease with such few years left?
If you need a home loan the remaining unexpired lease term may be problematic. Reduce the offer by the amount the lease extension will cost if it has not already been discounted. If the existing owner has owned the premises for at least 2 years you can request that they commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the existing lease and have £0 ground rent by law. You should speak to your conveyancing solicitor about this.
I am intending to sublet my leasehold flat in North Walsham. Conveyancing solicitor who did the purchase is retired - so can't ask him. Do I need to ask my freeholder for their consent?
Even though your previous North Walsham conveyancing lawyer is not around you can review your lease to see if it allows you to sublet the premises. The rule is that if the lease is non-specific, subletting is allowed. Quite often there is a prerequisite that you must obtain consent from your landlord or some other party in advance of subletting. This means you not allowed to sublet without prior permission. Such consent must not not be unreasonably refused ore delayed. If the lease does not allow you to sublet you should ask your landlord if they are willing to waive this restriction.
I acquired a basement flat in North Walsham, conveyancing having been completed in 1995. How much will my lease extension cost? Corresponding properties in North Walsham with an extended lease are worth £190,000. The average or mid-range amount of ground rent is £45 levied per year. The lease runs out on 21st October 2088
You have 62 years unexpired we estimate the premium for your lease extension to range between £17,100 and £19,800 plus legals.
The suggested premium range above a general guide to costs for renewing a lease, but we are not able to supply a more accurate figure in the absence of comprehensive due diligence. You should not use the figures in tribunal or court proceedings. There may be additional concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. You should not move forward placing reliance on this information without first seeking the advice of a professional.