IfI was to buy a straightforward propertyin Snettisham mortgage fee and have no survey and no local authority searches how much could I expect to to save on my conveyancing in Snettisham?
Any savings you would gain will be isolated to the Snettisham conveyancing searches. A conveyancer still got to do everything else - money laundering, communicating with your vendors conveyancer, stamp duty return, register the title etc. A slight saving might be made by not needing to register a mortgage however it won't be meaningful.
My property lawyer in Snettisham has never been on on the Leeds Building Society Solicitor Panel. Is it possible for me to continue with my prefered solicitor even though they are not on the Leeds Building Society approved list?
Your options are as follows:
- Complete the purchase with your preferred Snettisham lawyers but Leeds Building Society will need to instruct a lawyer on their list of acceptable firms. This will result in additional overall legal fees as well as cause delays.
- Get an alternative lawyer to act in the purchase, not forgetting to check they are Leeds Building Society approved.
- Persuade your Leeds Building Society based solicitor to seek to join the Leeds Building Society panel
I purchased a semi-detached Georgian property in Snettisham. Conveyancing solicitor represented me and Norwich and Peterborough Building Society. I happened to do a free search for it on the Land Registry database and there are a couple of entries: one for freehold, another for leasehold under the matching property. If a house is not a freehold shouldn't I have been informed?
You should assess the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Snettisham and other locations in the country and poses no real issues for owners other than when they remortgage they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also question the position with the conveyancing practitioner who conducted the conveyancing.
Yesterday I discovered that there is a flying freehold issue on a property I have offered on last month in what should have been a simple, no chain conveyancing. Snettisham is where the house is located. Is there any advice you can impart?
Flying freeholds in Snettisham are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Snettisham you would need to get your solicitor to go through the deeds very carefully. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Snettisham may ascertain 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 residence.
What are the frequently found problems that you see in leases for Snettisham properties?
Leasehold conveyancing in Snettisham is not unique. Most leases are drafted differently and drafting errors can sometimes mean that certain clauses are missing. 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. Maintenance charge proportions which don’t add up to the correct percentage
You may have 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. Birmingham Midshires, The Mortgage Works, and Britannia all have very detailed requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to provide security, obliging the buyer to pull out.
I inherited a garden flat in Snettisham, conveyancing was carried out March 1999. Can you work out an approximate cost of a lease extension? Comparable properties in Snettisham with an extended lease are worth £260,000. The ground rent is £45 levied per year. The lease finishes on 21st October 2099
With just 74 years unexpired the likely cost is going to be between £8,600 and £9,800 plus costs.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of detailed investigations. You should not use this information in tribunal or court proceedings. There may be additional issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information without first seeking the advice of a professional.
I note that you have a search directory identifying law firms on the lender conveyancing panel. Do Snettisham conveyancing companies pay you a referral fee if I retain them for my own conveyancing?
We are a listing service only for law firms wishing to communicate if they are on the mortgage company conveyancing panel or other lender panels. We do not charge referral fees to the any conveyancer that you subsequently appoint for your conveyancing in Snettisham.