Are the BSA intent on creating a online directory to list law firms on the Norwich and Peterborough Building Society conveyancing panel for instance in Tilbury?
We are not aware of any intention on the part of the BSA to develop such a tool.
My wife and I purchased a terraced Victorian house in Tilbury. Conveyancing lawyer represented me and Santander. I happened to do a free search for it on the Land Registry database and there are a couple of entries: the first freehold, another for leasehold under the matching property. I thought I was buying a freehold how can I check?
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 Tilbury 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 check the situation with the conveyancing practitioner who conducted the work.
I am buying a new build house in Tilbury benefiting from help to buy. The developers refused to move on the price so I negotiated five thousand pounds worth of fixtures and fittings instead. The house builders rep suggested that I not reveal to my conveyancer about the deal as it would impact my loan with the bank. Is this normal?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the UK Finance website. UK Finance form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I opted to have a survey completed on a property in Tilbury ahead of instructing lawyers. I have been advised that there is a flying freehold aspect to the property. My surveyor advised that some banks tend not grant a mortgage on such a home.
It depends who your proposed lender is. Santander has different instructions for example to Nationwide. Should you wish to call us we can check via the appropriate bank. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Tilbury. Conveyancing may be slightly more expensive based on your lender's requirements.
I am hoping to put an offer on a small detached house that seems to be perfect, at a reasonable figure which is making it all the more appealing. I have since found out that it's a leasehold rather than freehold. I would have thought that there are particular concerns buying a leasehold house in Tilbury. Conveyancing solicitors have not yet been instructed. Will they explain the issues?
Most houses in Tilbury are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area who can assist with the conveyancing process. It is clear that you are purchasing in Tilbury in which case you should be looking for a Tilbury conveyancing solicitor and be sure that they are used to advising on leasehold houses. As a matter of priority you will need to check the unexpired lease term. Being a leaseholder you will not be at liberty to do whatever you want to the property. The lease will likely included provisions for example obtaining the landlord’sconsent to carry out changes to the property. You may also be required to pay a service charge towards the upkeep of the communal areas where the house is part of an estate. Your conveyancer should advise you fully on all the issues.
I invested in buying a 1 bedroom flat in Tilbury, conveyancing was carried out 8 years ago. Can you give me give me an indication of the likely cost of a lease extension? Similar flats in Tilbury with over 90 years remaining are worth £191,000. The average or mid-range amount of ground rent is £55 per annum. The lease expires on 21st October 2080
You have 54 years unexpired we estimate the price of your lease extension to span between £32,300 and £37,400 plus plus your own and the landlord's "reasonable" professional fees.
The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you the actual costs in the absence of comprehensive investigations. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. You should not move forward placing reliance on this information without first getting professional advice.
My conveyancers in Tilbury have advised me that no longer have my conveyancing file. At the time of my purchase I took out a mortgage with the mortgage company. Is it case that being on the bank conveyancing panel they need to have retained the file for a number of years?
It very much depends from lender to lender but many of the Terms and Conditions of Conveyancing Panel Appointment require the file to be held for a period of 6 years. That being said we have not seen a copy of the mortgage company Conveyancing Panel Terms. It might be worth you contacting the bank directly.