It is is a decade since I acquired my house in Smithfield. Conveyancing lawyers have recently been appointed on the sale but I can't track down the title documents. Is this a major issue?
Don’t worry too much. Firstly the deeds may be kept by the lender or they may still be with the solicitor who handled the purchase. Secondly the chances are that the property will be registered at the land registry and you will be able to prove you are the registered owner by your conveyancing solicitors acquiring current official copies of the land registers. The vast majority of conveyancing in Smithfield involves registered property but in the rare situation where your property is not registered it adds to the complexity but is not insurmountable.
We just had an offer accepted to purchase with Darlington Building Society. We have called around locally yet cant to find a Smithfield conveyancing firm on the Darlington Building Society panel. Can you help?
Please do make use of the search tool on this web page. Pick the building society and type Smithfield or your preferred area and you will discover numerous solicitors based in Smithfield or nearest you.
Just bought a semi-detached house in Smithfield , how long should it take for the Land Registry to register the transfer to my name? My Smithfield conveyancing solicitor has been very slow, so I want to check that my name is registered.
There is nothing unique about conveyancing in Smithfield registration formalities. As opposed to being determined by geographic area, timescales can differ depending on the party submitting the application, whether there are errors and if the Land registry communicate with any other persons or bodies. At present in the region of 80% of submission are fully dealt with in less than three weeks but some can be subject to extensive hold-ups. Historically registration occurs once the purchaser has moved in to the property therefore an expedited registration is not typically primary concern but where there is a degree of urgency associated with the registration then you or your conveyancer could communicate with the Registry to express the reasoning for an expedited registration.
How does conveyancing in Smithfield differ for new build properties?
Most buyers of new build property in Smithfield come to us having been asked by the housebuilder to sign contracts and commit to the purchase even before the premises is finished. This is because developers in Smithfield typically purchase the real estate, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Smithfield or who has acted in the same development.
Are there frequently found problems that you witness in leases for Smithfield properties?
There is nothing unique about leasehold conveyancing in Smithfield. Most leases are drafted differently and drafting errors can result in certain clauses are not included. For example, if your lease is missing any of the following, it could be defective:
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A provision for the recovery of money spent for the benefit of another party. Repairing obligations to or maintain elements of the property
You will encounter difficulties when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Nationwide Building Society, The Mortgage Works, and Britannia all have very detailed conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease does not cover certain provisions they may refuse to provide security, forcing the purchaser to pull out.
I am the registered owner of a ground floor flat in Smithfield, conveyancing having been completed half a dozen years ago. Can you give me give me an indication of the likely cost of a lease extension? Corresponding properties in Smithfield with an extended lease are worth £192,000. The average or mid-range amount of ground rent is £55 charged once a year. The lease ends on 21st October 2080
With only 54 years unexpired the likely cost is going to be between £32,300 and £37,400 as well as costs.
The figure above a general guide to costs for extending a lease, but we are not able to provide the actual costs in the absence of comprehensive investigations. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Please do not take any other action based on this information without first getting professional advice.
Having used your search tool I can't find the lawyer I was hoping to instruct as being on the mortgage company conveyancing panel. My lawyer has said that they are on the mortgage company approved panel. How can I be sure given that they are not listed on your directory?
Not all firms are yet listed on our lender panel search tool which is still relatively new. Law firms are listing on a daily basis and it is probably the case that your lawyer is on the mortgage company conveyancing lawyer and you should probably take them at their word. Please do feel free to suggest that they completing their listing on our site as it would only cost them £1 a month to list themselves as being on the lender solicitor panel.