Can I be sure that the Princes Risborough conveyancing solicitor on the Yorkshire BS panel is any good?
When it comes to conveyancing in Princes Risborough seeking recommendations is a sensible start. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one advertising the lowest fees. We would always advocate that you speak with the lawyer conducting your transaction.
I have today made my last payment due on my mortgage with Kent Reliance. I assume I don't need a Princes Risborough property lawyer on the Kent Reliance panel to discharge the mortgage at the Land Registry. Am I right?
If you have finished paying off your Kent Reliance 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 Kent Reliance mortgage from the register. Kent Reliance, 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 Kent Reliance has sent the Land Registry the discharge electronically, and
- Kent Reliance has instructed the Land Registry to do so
I am currently in the process of buying my council flat in Princes Risborough. I have a mortgage offer with Leeds Building Society. Conveyancing is not something I have any knowledge of. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Leeds Building Society, you will need to appoint a solicitor on the Leeds Building Society conveyancing panel.
Me and my brother own a semi-detached Victorian property in Princes Risborough. Conveyancing solicitor acted for me and TSB. I happened to do a free search for it on the Land Registry database and there are two entries: the first freehold, the second leasehold with the exact same property. I'd like to know for sure, how can I find out??
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 Princes Risborough 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 enquire as to the situation with your conveyancing solicitor who conducted the conveyancing.
Over the last few months I have been searching for a leasehold apartment up to £195,000 and found one round the corner in Princes Risborough I like with a park and railway links in the vicinity, however it only has 49 remaining years left on the lease. There is not much else in Princes Risborough suitable, so just wondered if I would be making a mistake purchasing a short lease?
Should you require a mortgage the remaining unexpired lease term will likely be a potential deal breaker. Reduce the price by the amount the lease extension will cost if it has not already been discounted. If the existing proprietor has owned the premises for a minimum of 2 years you could ask them to start the process of the extension and then assign it to you. An additional ninety years can be extended on to the existing lease term with a zero ground rent applied. You should consult your conveyancing solicitor concerning this.
I need to retain a conveyancing solicitor for remortgage conveyancing in Princes Risborough. I've stumble across a site which looks to be the perfect solution If there is a chance to get all formalities completed via phone that would be ideal. Should I be concerned? What should out be looking out for?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
My wife and I purchased a leasehold house in Princes Risborough. Conveyancing and Nottingham Building Society mortgage are in place. A letter has just been received from someone claiming to own the freehold. It included a ground rent demand for rent dating back to 1992. The conveyancing solicitor in Princes Risborough who previously acted has long since retired. Do I pay?
The first thing you should do is contact the Land Registry to make sure that this person is indeed the registered owner of the freehold reversion. It is not necessary to instruct a Princes Risborough conveyancing solicitor to do this as you can do this on the Land Registry website for £3. You should note that regardless, even if this is the legitimate freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I invested in buying a garden flat in Princes Risborough, conveyancing formalities finalised 3 years ago. Can you work out an approximate cost of a lease extension? Corresponding flats in Princes Risborough with an extended lease are worth £206,000. The ground rent is £45 yearly. The lease comes to an end on 21st October 2092
With just 67 years remaining on your lease the likely cost is going to be between £10,500 and £12,000 as well as plus your own and the landlord's "reasonable" professional fees.
The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of detailed investigations. Do not use this information in tribunal or court proceedings. There may be additional issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information without first seeking the advice of a professional.
I own a leasehold flat in Princes Risborough. Conveyancing was finalised in 2009. I have heard that I mustn’t let the lease length fall too short. Is this correct?
Princes Risborough residential long term leases are for a prescribed period - often ninety nine years when they commenced. However a significant flats in Princes Risborough were built or converted 25 or more years ago and so these leases now have fewer than eighty years remaining. That may sound like a long time but Banks, Building Societies and other mortgage institutions tend to require leases to have a minimum of seventy five years left to be mortgageable. This means that when you come to sell the property you will need to extend the term of your lease if you are nearing seventy five years. To enhance your property value you should be considering whether or not to extend your lease long before you come to sell it. There are also advantages to doing so before the lease hits eighty years as when the lease falls below 80 years the amount to be paid to extend starts to increase.