My IFA says he needs my Seaview solicitor’s panel member for the Nat West conveyancing panel. Can you suggest how I discover this. I have e-mailed my local Seaview branch but they have not responded to me.
You are best placed to get this information from your Seaview lawyer . Most Seaview law practices will keep a file or database of lender panel information which would include, if applicable, their conveyancing panel details for each bank.
It is a dozen years since I acquired my home in Seaview. Conveyancing lawyers have just been instructed on the sale but I can't find my deeds. Is this a major issue?
You need not be too concerned. First there is a chance that the deeds will be retained by your mortgage company or they could be in the possession of the solicitor who handled your purchase. Secondly in most cases the title will be recorded at the land registry and you will be able to establish that you own the property by your conveyancing solicitors procuring up to date copy of the land registers. Almost all conveyancing in Seaview involves registered property but in the unlikely event that your home is not registered it adds to the complexity but is resolvable.
I was told two weeks ago that my mortgage has been agreed to by Skipton. Is it usual for Skipton to only issue the offer once my solicitor in Seaview is approved on their conveyancing panel? Skipton have asked my solicitor to see a copy of their Professional Indemnity Insurance Schedule.
A lender would not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for Skipton to deal with your lawyer's application to be on the Skipton conveyancing panel. There's no guarantee that your solicitor will be accepted.
I have instructed a Seaview conveyancing practitioner having made sure that they are on the Nationwide conveyancing panel. Does my lawyer arrange the survey of the property?
Nationwide will need an independent valuation of the property. Your lawyer will not arrange this. Usually Nationwide will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. Your conveyancer will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by your Seaview postcode. As you are getting a mortgage with Nationwide, you could contact them to see if they have a list of approved surveyors in Seaview.
I have finally had an offer on a maisonette in Seaview agreed to, but there is a chain. The vendors have put an offer on a property, however it’s not been accepted yet, and have viewings of other flats in the pipeline. I have chosen a local conveyancing solicitor in Seaview. What should be my next step? At what point do I apply for the mortgage with Virgin Money?
It is normal to have anxieties where there is a chain as you are unlikely to want to incur expenses too early (mortgage application is approx one thousand pounds, then survey, Seaview conveyancing search costs, etc). The first thing to do is ensure that your conveyancer is on the Virgin Money conveyancing panel. Concerning the next stages this very much dictated by the uniqueness of your transaction, desire for the property and on the state of the market. In a buoyant market many buyers would apply for a home loan with Virgin Money and arrange for the valuation and only if it was satisfactory would they ask their solicitor to press on with searches.
I am looking for a leasehold apartment up to £235,500 and identified one near me in Seaview I like with open areas and railway links nearby, the downside is that it only has 61 remaining years left on the lease. There is not much else in Seaview in this price bracket, so just wondered if I would be making a mistake purchasing a lease with such few years left?
Should you require a mortgage the shortness of the lease will be a potential deal breaker. Reduce the offer by the anticipated lease extension will cost if not already taken into account. If the existing proprietor has owned the property for a minimum of 2 years you can request that they commence the lease extension formalities and pass it to you. You can add 90 years to the existing lease term with a zero ground rent applied. You should consult your conveyancing lawyer regarding this matter.
Last September I purchased a leasehold property in Seaview. Am I liable to pay service charges for periods before completion of my purchase?
In a situation where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I acquired a ground floor flat in Seaview, conveyancing formalities finalised July 2004. Can you work out an approximate cost of a lease extension? Comparable properties in Seaview with an extended lease are worth £201,000. The average or mid-range amount of ground rent is £45 invoiced every year. The lease runs out on 21st October 2091
With 65 years unexpired the likely cost is going to range between £13,300 and £15,400 plus plus your own and the landlord's "reasonable" professional fees.
The suggested premium range 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 due diligence. You should not use this information in tribunal or court proceedings. There are no doubt other concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information without first getting professional advice.
What can I do to determine who is the owner of a house in Seaview?
Provided the property is registered with the Land Registry, and you have requisite information of the location of the premises, you should be able to see details from the HMLR of the recorded owner for a for less than a fiver.