I have been referred to a conveyancing solicitor in Pulborough. I need to find out whether they are accepted on the TSB approved list of lawyers. Can you or the lender confirm if they are on the panel?
You should e-mail your lawyer and ask them if they can act for the lender. Alternatively please get in touch with TSB who may be able to help.
I purchased a renovated Victorian house in Pulborough. Conveyancing practitioner acted for me and Nationwide Building Society. I happened to do a free search for it on the Land Registry database and I saw two entries: one for freehold, the second leasehold with the matching property. Is it worth asking Nationwide Building Society to clarify?
You need to assess the Freehold register you have again and check the Charges Register for 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 Pulborough and other areas of the country and poses no real issues for owners other than when they mortgage they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also question the position with the conveyancing practitioner who completed the work.
Over the last few months I have been searching for a leasehold apartment up to £235,500 and identified one round the corner in Pulborough I like with a park and railway links in the vicinity, however it only has 49 remaining years left on the lease. I can't really find anything else in Pulborough suitable, so just wondered if I would be making a mistake buying a short lease?
If you need a mortgage that many years may be a potential deal breaker. Reduce the price by the expected lease extension will cost if it has not already been discounted. If the existing proprietor has owned the premises for at least twenty four months you may ask them to start the process of the extension and pass it to you. An additional ninety years can be extended on to the current lease term and have £0 ground rent by law. You should speak to your conveyancing solicitor concerning this matter.
What tools are available to locate a Pulborough solicitor on the Alliance & Leicester conveyancing panel? I have wheels and am willing to travel upto 25kilometers to meet the conveyancer.
Feel free to make use of the facility on this page. Please pick a mortgage company and your location and you will see a number of Pulborough conveyancing lawyers based on proximity. We have detailed some Pulborough conveyancing firms towards the end of this page and you can telephone them to verify if they are on the Alliance & Leicester member panel
Are there frequently found defects that you come across in leases for Pulborough properties?
Leasehold conveyancing in Pulborough is not unique. All leases are drafted differently and legal mistakes in the legal wording can result in certain sections are wrong. The following missing provisions could result in a defective lease:
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Insurance obligations
You will have difficulties when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Lloyds TSB Bank, Virgin Money, and Aldermore all have express conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to grant the mortgage, forcing the purchaser to pull out.
I invested in buying a 2 bed flat in Pulborough, conveyancing having been completed in 2006. Can you give me give me an indication of the likely cost of a lease extension? Corresponding properties in Pulborough with over 90 years remaining are worth £190,000. The average or mid-range amount of ground rent is £45 levied per year. The lease finishes on 21st October 2087
With just 62 years left to run we estimate the premium for your lease extension to range between £17,100 and £19,800 as well as professional fees.
The suggested premium range above a general guide to costs for extending a lease, but we are not able to advice on a more accurate figure without more detailed investigations. You should not use the figures in tribunal or court proceedings. There are no doubt additional concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information before getting professional advice.
I have just started marketing my garden flat in Pulborough.Conveyancing lawyers have not yet been instructed however I have recently received a yearly maintenance charge invoice – Do I pay up?
The sensible thing to do is pay the maintenance contribution as usual given that all ground rent and maintenance charges should be allottedon completion, so you will be reimbursed by the buyer for the period running from after the completion date to the subsequent invoice date. Most managing agents will not acknowledge the buyer unless the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially