It is is a decade since I purchased my property in Sawston. Conveyancing solicitors have just been retained on the sale but I can't track down my deeds. Will this jeopardise the sale?
You need not be too concerned. First the deeds may be kept by your lender or they may be in the possession of the solicitor who oversaw your purchase. Secondly in most cases the property will be recorded at the land registry and you will be able to prove you own the property by your conveyancing solicitors procuring up to date copy of the land registers. Most conveyancing in Sawston relates to registered property but in the unlikely event that your property is unregistered it adds to the complexity but is not insurmountable.
My wife and I purchased a 4 bedroom Edwardian property in Sawston. Conveyancing practitioner acted for me and TSB. I did a free Land Registry search last week and I saw two entries: one for freehold, the second leasehold with the matching address. Is it worth asking TSB to clarify?
You need to review 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 owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Sawston 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 purchasers. You can also check the position with your conveyancing lawyer who completed the work.
I have been on the look out for a ground for flat up to £245,000 and found one close by in Sawston I like with open areas and railway links in the vicinity, the downside is that it only has 52 years on the lease. There is not much else in Sawston suitable, so just wondered if I would be making a mistake acquiring a lease with such few years left?
If you require a home loan the shortness of the lease will be problematic. Reduce the price by the anticipated lease extension will cost if it has not already been discounted. If the existing owner has owned the property for at least 2 years you may ask them to commence the lease extension formalities and then assign 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.
I need to retain a conveyancing solicitor for my conveyancing in Sawston. I have land on a web site which seems to have the perfect solution If there is a chance to get all the legals done via email that would be preferable. Should I be concerned? What are the potential pitfalls?
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?
I am hoping to sign contracts shortly on a ground floor flat in Sawston. Conveyancing solicitors assured me that they report fully tomorrow. What should I be looking out for?
The report on title for your leasehold conveyancing in Sawston should include some of the following:
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Information as to the provision in the lease to to contribute towards maintenance costs - in relation to the building, and the more general rights a leaseholder has The total extent of the demise. This might be the apartment itself but may incorporate a roof space or cellar if relevant. Changes to the property Will you be prohibited or prevented from having pets in the property? Whether the landlord has obligations to ensure rights of quiet enjoyment over your property and do you know what it means in practice?
I invested in buying a studio flat in Sawston, conveyancing was carried out 9 years ago. How much will my lease extension cost? Equivalent flats in Sawston with a long lease are worth £190,000. The ground rent is £45 invoiced annually. The lease ceases on 21st October 2087
With 62 years remaining on your lease we estimate the price of your lease extension to range between £17,100 and £19,800 as well as legals.
The figure that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more detailed investigations. You should not use this information in tribunal or court proceedings. There are no doubt other issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information before getting professional advice.
I have noted on various online forums that before choosing a conveyancing firm they need approved by your mortgage company. This is my first home move but I have an AIP from Halifax and I already have a bricks and morter conveyancing lawyer in Sawston in place. Does Halifax need an approved lawyer to be used? If so, where can I find that list so I can pick a conveyancing lawyer in Sawston?
You should use a solicitor that is on the Halifax panel. The simplest thing to do is telephone your preferred Sawston conveyancing lawyer and ask if they are on the Halifax panel. If they are not approved you have a couple of choices open to you here:
- Proceed with your chosen Sawston solicitor but Halifax will need to appoint a property lawyer from their approved list. The net impact is additional charges together with probable delay.
- Appoint a fresh conveyancing practitioner to act in the purchase, not forgetting to check that they are on the Halifax conveyancing panel.
- Convince your solicitor to seek to join the mortgage company panel.