Is there a reason why leasehold purchase conveyancing in Shenley Church End costs more?
In short, leasehold conveyancing in Shenley Church End and Buckinghamshire usually necessitates more work compared to freehold transactions. This includes lease investigation, liaising with the landlord about serving required notices, securing current service charge and management information, procuring the freeholder’s consents and reviewing management accounts. The obligations on both the landlord and the tenant in the lease need to be studied by the buyer’s conveyancing team and read from beginning to end – no matter how many different owners have owned the lease since it was first granted.
My aunt passed away 10 months ago and as sole heir and executor I was left the house in Shenley Church End. The house had a relatively small loan left on it of around £4500. I want to transfer the title deeds into my name whilst I re-mortgage to Nottingham, pay off the mortgage. Is this possible?
Given you intend to refinance then Nottingham will require that you use a conveyancer on the Nottingham conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Nottingham conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Nottingham mortgage is registered as a charge at the Land Registry.
My relative suggested that if I am purchasing in Shenley Church End I should carry out a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
This is a search is usually included in the estimate for your Shenley Church End conveyancing searches. It is not a small document of about 40 pages, listing and setting out important information about Shenley Church End around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average Property Price, Crime statistics, Local Education with maps and statistics, Local Amenities and other useful information concerning Shenley Church End.
I've recently found out that there is a flying freehold issue on a house I put an offer in two weeks back in what should have been a simple, no chain conveyancing. Shenley Church End is where the house is located. What do you suggest?
Flying freeholds in Shenley Church End are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Shenley Church End you would need to get your solicitor to go through the deeds very carefully. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Shenley Church End may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
Is it simple use the search app to choose a conveyancing lawyer in Shenley Church End on the approved list for my bank?
1st select a lender such as Halifax, The Mortgage Works or Aldermore then specify your location for example Shenley Church End. Conveyancing firms in Shenley Church End and beyond should be listed.
My wife and I are purchasing a garden flat in Shenley Church End. When we first instructed conveyancer, we were told they were on all mainstream lender panels. The financial adviser called yesterday to advise that they don't appear to be on the Coventry BS approved list. Should that be true, what should we do? Should we just find a different conveyancer that is on their panel or do we cover the costs for separate representation, with Coventry BS selecting their own preferred property lawyer.
When buying a property with mortgage finance it is usual for the buyer’s lawyers to also represent the mortgage company. In order to act for a bank or building society a conveyancer has to be on that lender's conveyancing panel. An application has to be made by the conveyancing practitioner to the lender to become a member of the lender's panel and there are increasingly strict criteria which the conveyancing practitioner has to satisfy. Some building societies now insist their panel members to be part of the Law Society’s Conveyancing Quality Scheme. Your solicitor should contact Coventry BS to find out if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You are not legally obliged to appoint a law firm on Coventry BS's conveyancing panel as you are at liberty to use your preferred Shenley Church End lawyers, in which case it will likely add costs, and it may delay matters as you are adding another solicitor into the equation.