My wife and I are purchasing a 2 bedroom flat in Rutland with a mortgage. We like our Rutland conveyancer, but the bank says he's not on their "panel". It appears that we have little choice but to instruct one of the bank panel firms or keep our Rutland conveyancing practitioner and pay for one of their panel ones to represent them. We regard this is inequitable; is there anything we can do?
Unfortunately,no. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the bank’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your Rutland conveyancing lawyer to apply to be on the conveyancing panel.
I am need of leasehold conveyancing for a flat in a fairly new development (6 years built) in Rutland. 95% of the appartments are already sold. Is it really necessary to order local searches as part of conveyancing in Rutland?
A big part of the Rutland conveyancing process is the conveyancing searches. There are numerous search providers delivering Rutland conveyancing searches, as well direct from the local authority. These are known collectively as personal search providers and they produce, not surprisingly, personal searches. Nevertheless, all Local Authority Search conveyancing products have one thing in common - they must secure their information from the local authority.
A colleague recommended that where I am buying in Rutland I should ask my conveyancer to perform a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
This is a search is occasionally quoted for as part of the standard Rutland conveyancing searches. It is not a small document of more than thirty pages, listing and setting out significant information about Rutland around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average House Prices, Crime statistics, Local Education with maps and statistics, Local Amenities and other useful data about Rutland.
I am looking for a flat up to £235,500 and identified one close by in Rutland I like with open areas and transport links nearby, however it only has 51 remaining years left on the lease. There is not much else in Rutland in this price bracket, so just wondered if I would be making a grave error buying a short lease?
Should you need a mortgage that many years will likely be a potential deal breaker. Reduce the price by the amount the lease extension will cost if not already taken into account. If the current proprietor has owned the property for at least 2 years you can 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 with a zero ground rent applied. You should speak to your conveyancing lawyer concerning this matter.
As co-executor for the estate of my uncle I am selling a property in Cardiff but reside in Rutland. My conveyancer (based 200 kilometers from merequires that I sign a stat dec prior to the transaction finalising. Could you suggest a conveyancing lawyer in Rutland who can witness and place their company stamp on the document?
Technically speaking you should not need to have the documents witnessed by a conveyancing solicitor. Ordinarily or notary public or qualified solicitor will do regardless of whether they are Rutland based
I am employed by a busy estate agency in Rutland where we see a few flat sales put at risk as a result of leases having less than 80 years remaining. I have received inconsistent advice from local Rutland conveyancing solicitors. Can you shed some light as to whether the owner of a flat can commence the lease extension process for the purchaser on completion of the sale?
As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer can avoid having to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or simultaneously with completion of the sale.
An alternative approach is to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.
Leasehold Conveyancing in Rutland - Sample of Queries before Purchasing
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Who are the managing agents? What restrictions are contained in the Rutland Lease? On the whole the cost for major works tend not to be included within maintenance charges, albeit that a few managing agents in Rutland obliged leasehold owners to contribute towards a sinking fund created for the specific purpose of building a fund for major works.