Will conveyancers request an advanced payment for my conveyancing in Stalybridge?
If you are buying a property in Stalybridge your lawyer will request that you place them with monies to cover the search fees. This will be the total of the cost of the conveyancing searches. When the down payment is payable against the sale price then this should be asked for shortly in advance of exchange of contracts. Any further balance that is needed should be sent to your lawyer shortly before completion.
I am the only beneficiary of my late father’s will and I have everything in my name now, including the my former home in Stalybridge. The Stalybridge property was put into my name in December. I now wish to sell up. I do know about the Mortgage Lenders six month 'rule', which means that my property ownership may be treated the same way as if I'd bought the property in December. Will no one buy the property for half a year?
The Council of Mortgage Lenders’ handbook obliges conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you may be affected by that. many lenders would take a sensible view as this requirement is primarily there to identify the purchase and immediately sell or the flipping of property.
We were going to get a DIP from Principality this week so we know how much we could potentially offer as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc). Do Principality recommend any Stalybridge solicitors on the Principality conveyancing panel, or is it better to find our own lawyer?
You will need to appoint Stalybridge solicitors independently although you'll need to choose one on the Principality conveyancing panel. The solicitor represents both you and Principality through the process.
The mortgage over my property is with Kent Reliance for my property in Stalybridge. Conveyancing has been completed a year ago. In the event that I decide to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Kent Reliance?
Kent Reliance must be informed of your intention prior to letting out your property as this is likely to be a breach of Kent Reliance’s mortgage conditions. In many cases banks or building societies will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Kent Reliance directly. You need not do this via a Kent Reliance conveyancing panel lawyer.
I own a renovated Georgian property in Stalybridge. Conveyancing practitioner acted for me and Skipton Building Society. I did a free Land Registry search last week and there are two entries: the first freehold, the second leasehold under the exact same 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 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 Stalybridge and other locations in the country and poses no real issues for owners other than when they mortgage they have to account for both freehold and leasehold interests when dealing with lenders. You can also question the position with the conveyancing practitioner who completed the work.
Yesterday I discovered that there is a flying freehold element on a property I put an offer in a fortnight ago in what should have been a simple, chain free conveyancing. Stalybridge is the location of the property. Can you offer any guidance?
Flying freeholds in Stalybridge are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Stalybridge you would need to get your solicitor to go through the deeds very carefully. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Stalybridge may determine 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 premises.
My father has suggested that I appoint his conveyancing solicitors in Stalybridge. Should I use them?
Much as we are happy to recommend a Stalybridge conveyancing lawyer the best way to select a conveyancing lawyer is to have referrals from friends or family who have experience in using the conveyancer you're are thinking of instructing.
I own a leasehold house in Stalybridge. Conveyancing and The Royal Bank of Scotland mortgage are in place. A letter has just been received from someone claiming to own the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1997. The conveyancing solicitor in Stalybridge who previously acted has long since retired. Do I pay?
The first thing you should do is make enquiries of the Land Registry to make sure that the individual claiming to own the freehold is in fact the new freeholder. You do not need to instruct a Stalybridge conveyancing solicitor to do this as it can be done on-line for £3. You should note that regardless, even if this is the rightful landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I purchased a studio flat in Stalybridge, conveyancing having been completed June 2010. Can you give me give me an indication of the likely cost of a lease extension? Equivalent properties in Stalybridge with a long lease are worth £195,000. The ground rent is £45 yearly. The lease ends on 21st October 2089
With 63 years unexpired we estimate the price of your lease extension to range between £16,200 and £18,600 plus 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 the actual costs without more comprehensive investigations. Do not use this information in a Notice of Claim or as an informal offer. There may be additional issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. You should not take any other action based on this information before seeking the advice of a professional.