I decided to go with a Oakham based lawyer for my conveyancing in Oakham last week. After carefully reading the Terms I noteI am liable for costs even if the sale aborts. Would I be best advised to choose an on-line conveyancing brokerage promising no-sale-no-fee conveyancing in Oakham?
Generally there is a concession along the lines that if "No Completion No Fee" is offered then the conveyancing charges will tend to be be uplifted to counteract the transactions that do not go ahead. Dont forget that these offerings tend not to protect you from expenditure such as Oakham conveyancing search expenses.
My grandfather passed away six months ago and as sole heir and executor I was left the house in Oakham. The house had a relatively small loan left on it of around £5k. I want to transfer the title deeds into my name whilst I re-mortgage to Bank of Ireland, pay off the mortgage. Is this allowed?
Where you intend to refinance then Bank of Ireland will require that you use a conveyancer on the Bank of Ireland conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Bank of Ireland conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Bank of Ireland mortgage is registered as a charge at the Land Registry.
I happen to be the only beneficiary of my late father’s will with all property in now in my sole name, including the my former home in Oakham. The Oakham property was put into my name in November. I plan to dispose of the property. I understand that there is a CML 6 month 'rule', which means that my proprietorship could be regarded the same way as if I'd bought the property in November. Do I have to wait half a year to sell?
The CML handbook mandates solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you could be affected by that. How practical a view mortgage companies take of it, depend on the lender as this obligation principally exists to pick up on the purchase and immediately sell or the wholesaling and assigning of property.
Are all Oakham Conveyancing Quality Solicitors on the Aldermore conveyancing list of approved firms?
Some major lenders now utilise the accreditation scheme as the kick off point for Panel approval such as HSBC and Santander. CQS membership however gives no guarantee to lender panel acceptance. That being said,the CML have indicated that it is likely to become a pre-requisite for solicitor practices wishing to join their panels.
We had instructed conveyancing lawyers with offices in Oakham on the Santander solicitor panel. They are now charging me a separate fee for dealing with the Santander mortgage. Is this an additional conveyancing fee set by Santander?
As unfair as it may appear, as long as it’s in their Terms of Engagement or estimate then yes your conveyancing practitioner is entitled to charge a fee for this. The charge is not set by Santander but by your Oakham lawyer. Some firms on the Santander panel will levy ’dealing with mortgage’ fee but some practices include it on their overall fee.
I used Arc property Solicitors a few years ago for my conveyancing in Oakham. I now require my file however the law firm has closed. What do I do?
Do call the Solicitors Regulatory Authority (SRA) to help locate your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Oakham of the conveyancing firm of solicitors you previously retained, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
Yesterday I discovered that there is a flying freehold issue on a house I put an offer in two weeks back in what was supposed to be a quick, chain free conveyancing. Oakham is the location of the property. Can you shed any light on this issue?
Flying freeholds in Oakham are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Oakham you would need to get your solicitor to go through the deeds diligently. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Oakham 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.
Completion is due on our sale of a £325,000 flat in Oakham next week. The management company has quoted £300 for Certificate of Compliance, building insurance schedule and 3 years statements of service charge. Is the landlord entitled to charge an administration fee for a leasehold conveyance in Oakham?
Oakham conveyancing on leasehold maisonettes usually results in fees being levied by managing agents :
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Addressing pre-exchange enquiries
Where consent is required before sale in Oakham
Copies of the building insurance and schedule
Deeds of covenant upon sale
Registering of the assignment of the change of lessee after a sale
I invested in buying a garden flat in Oakham, conveyancing formalities finalised May 2006. Can you let me have an estimated range of the fair premium for a lease extension? Corresponding flats in Oakham with a long lease are worth £165,000. The average or mid-range amount of ground rent is £50 invoiced every year. The lease terminates on 21st October 2102
You have 78 years remaining on your lease we estimate the price of your lease extension to span between £7,600 and £8,800 plus professional fees.
The figure that we have given is a general guide to costs for extending a lease, but we are not able to provide a more accurate figure without more detailed due diligence. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information without first getting professional advice.