My Street lawyer has uncovered a difference when comparing the information in the valuation survey and what is in the conveyancing documents. My lawyer has advised that he is duty bound to check that the bank is happy with this discrepancy and is content to go ahead. Is my lawyer’s course or action right?
Your property lawyer must comply with the UK Finance Lenders’ Handbook requirements which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.
My grandmother passed away last year and as sole heir and executor I was left the house in Street. The house had a small mortgage left on it of around £4500. I want to transfer the title deeds into my name whilst I re-mortgage to Skipton, pay off the mortgage. Is this possible?
Given you plan to re-mortgage then Skipton will require that you use a conveyancer on the Skipton 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 Skipton 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 Skipton mortgage is registered as a charge at the Land Registry.
Over the last few months I have been searching for a flat up to £195,000 and identified one round the corner in Street I like with a park and railway links nearby, the downside is that it only has 52 years on the lease. There is not much else in Street in this price bracket, so just wondered if I would be making a mistake buying a short lease?
Should you need a home loan that many years will be an issue. Discount the offer by the expected lease extension will cost if it has not already been discounted. If the current proprietor has owned the premises for a minimum of twenty four months you could request that they commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the existing lease with a zero ground rent applied. You should speak to your conveyancing solicitor concerning this matter.
I need to instruct a conveyancing solicitor for sale conveyancing in Street. I have chance upon a site which looks to be the ideal answer If there is a chance to get all this stuff completed via phone that would be preferable. Do I need to be concerned? What should out be looking out for?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
My wife and I purchased a leasehold flat in Street. Conveyancing and Leeds Building Society mortgage are in place. A letter has just been received from someone claiming to own the freehold. It included a ground rent demand for rent dating back to 1993. The conveyancing practitioner in Street who acted for me is not around. What should I do?
First contact the Land Registry to make sure that this person is in fact the registered owner of the freehold reversion. It is not necessary to instruct a Street conveyancing solicitor to do this as it can be done on-line for £3. Rest assured that regardless, even if this is the legitimate freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
Street Conveyancing for Leasehold Flats - Sample of Questions you should ask before Purchasing
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Its a good idea to find out as much as you can regarding the managing agents as they can either make your life much easier or a lot more difficult. As the proprietor of a leasehold property you are frequently in the clutches of the managing agents both financially and when it comes to every day issues such as the upkeep of the communal areas. Don't be afraid to ask prospective neighbours what they think of their management. In conclusion, be sure you discover the dates that you are obliged pay the service charge to the managing agents and precisely how they are spending that money. This information is important as a) areas may result in problems for the block as the communal areas may start to deteriorate if repairs are not paid for b) if the leasehold owners have a dispute with the managing agents you will want to have complete disclosure The best form of lease structure is a share of the freehold. In this arrangement the lessees have control and notwithstanding that a managing agent is frequently employed if the building is larger than a house conversion, the managing agent acts for the leaseholders themselves.
What range of conveyancing services do Street conveyancing practices handle?
Most Street conveyancing solicitors can provide a broad array of legal advice to domestic and rural land proprietors, vendors, first time buyers, freeholders and leaseholders including the following:
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Standard residential sale conveyancing in Street or wider afield
House purchase conveyancing in Street and further afield
Property conveyancing following matrimonial or relationship splits Property investment and purchasing to Let Drafting in relation to rights of drainage, services, and access (Easements) All types of leasehold property including, apartments and maisonettes