I am buying a semi-detached house in Sutton Coldfield. Can I do my own conveyancing?
Leaving aside the complexities and merits of DIY conveyancing in Sutton Coldfield you will have to appoint a solicitor on your bank's conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to be made in you doing conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on your lender panel in Sutton Coldfield.
I have today made my last payment due on my mortgage with Yorkshire BS. I assume I don't need a Sutton Coldfield property lawyer on the Yorkshire BS panel to remove the mortgage at the Land Registry. Please confirm.
If you have finished paying off your Yorkshire BS mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Yorkshire BS mortgage from the register. Yorkshire BS, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Yorkshire BS has sent the Land Registry the discharge electronically, and
- Yorkshire BS has instructed the Land Registry to do so
After much negotiation I have agreed a price on a house in Sutton Coldfield. My mortgage broker recommended their conveyancers. I paid an upfront payment of £225. A few days later, the conveyancer contacted me to say that they were not on the Barclays conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Barclays panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
Yorkshire BS have agreed my mortgage in principle, my bid on a flat in Sutton Coldfield has been accepted, now what?
Your property agent will want to be advised as to your property lawyer's details (be sure the lawyers are on the bank’s panel). Contact Yorkshire BS or the financial adviser and finalise any relevant forms. Yorkshire BS will appoint a valuer who will get in touch with the estate agent or vendor to book an appointment. Once conducted (assuming no problems) it takes approximately a week for the mortgage offer to be issued. Yorkshire BS will send the offer to you and your property lawyers. The transaction will then take it’s course according the nature and complexity of the conveyancing in Sutton Coldfield.
It has been 3 months following my purchase conveyancing in Sutton Coldfield completed. I have checked the Land Registry site which shows that I paid £200,000 when infact I paid £215,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the asset from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I am looking for a flat up to £245,000 and identified one close by in Sutton Coldfield I like with a park and station nearby, however it only has 51 remaining years left on the lease. There is not much else in Sutton Coldfield suitable, so just wondered if I would be making a grave error acquiring a lease with such few years left?
Should you require a mortgage the shortness of the lease may be an issue. Discount the price by the amount the lease extension will cost if it has not already been discounted. If the existing proprietor has owned the property for a minimum of 2 years you can ask them to start the process of the extension and then assign it to you. You can add 90 years to the existing lease term and have £0 ground rent by law. You should speak to your conveyancing lawyer regarding this matter.
I am using a search engine for the term cheap conveyancing in Sutton Coldfield it reveals numerous conveyancerslocally. How do I determine which is the suitable conveyancer for the sale of my house?
The preferential way of seeking the right conveyancer is via trusted referral, so ask colleagues and those you trust who have purchased a property in Sutton Coldfield or a local estate agent or financial adviser. Fees for conveyancing in Sutton Coldfield differ, so it's sensible to obtain at least four fee estimates from different solicitors. Make sure that you know what costs in the quote includes.
Expecting to exchange soon on a garden flat in Sutton Coldfield. Conveyancing solicitors have said that they will have a report out to me on Monday. What should I be looking out for?
Your report on title for your leasehold conveyancing in Sutton Coldfield should include some of the following:
-
Responsibility for maintaining the window frames Repair and maintenance of the flat What the implications are if you have contravened the provisions of the lease? The unexpired lease term. You should be advised as what happens when the lease ends, and informed of the importance of not letting the lease term falling below eighty years An explanation as to the provision in the lease to to contribute towards maintenance costs - with regard to both the building, and the more general rights a leaseholder has
I purchased a studio flat in Sutton Coldfield, conveyancing having been completed December 1999. Can you let me have an estimated range of the fair premium for a lease extension? Comparable properties in Sutton Coldfield with an extended lease are worth £179,000. The average or mid-range amount of ground rent is £65 levied per year. The lease ends on 21st October 2082
You have 57 years unexpired we estimate the premium for your lease extension to range between £26,600 and £30,800 plus legals.
The suggested premium range above a general guide to costs for renewing a lease, but we are not able to advice on the actual costs in the absence of detailed due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There may be additional concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information before seeking the advice of a professional.