I am hoping to receive a mortgage with Lloyds. My intention is to employ the services of a Licensed Conveyancer in Walsingham. Does the Lloyds Solicitor panel exclude Licensed Conveyancers?
The Lloyds approved solicitor list is, like many other lenders, represented by the CML or Building Society Association, open to Licensed Conveyancers regulated by the Council of Licensed Conveyancers.
I understand that there are debates on Chancel Insurance on online forums. Am I compelled to take this when buying a property in Walsingham? or Apparently there is a law dating back centuries that could mean that owners of property residing in a parish church boundary may be liable to contribute towards repairs to the chancel in proximity to the church. Is this relevant for conveyancing in Walsingham?
Unless a previous purchase of the premises completed post 12 October 2013 you may take it that solicitors delivering conveyancing in Walsingham to continue to recommend a chancel search and or chancel repair liability policy.
I purchased a renovated Georgian property in Walsingham. Conveyancing practitioner acted for me and Santander. I happened to do a free search for it on the Land Registry database and there are two entries: the first freehold, the second leasehold with the exact same address. If a house is not a freehold shouldn't I have been informed?
You need to review 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 proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Walsingham 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 purchasers. You can also check the situation with the conveyancing lawyer who conducted the conveyancing.
Over the last few months I have been searching for a ground for flat up to £305k and found one near me in Walsingham I like with open areas and station in the vicinity, however it's only got 61 years on the lease. I can't really find anything else in Walsingham suitable, so just wondered if I would be making a mistake acquiring a short lease?
If you need a mortgage the remaining unexpired lease term may be problematic. Discount the offer by the anticipated lease extension will cost if it has not already been discounted. If the existing proprietor has owned the property for at least twenty four months you may ask them to commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the existing lease and have £0 ground rent by law. You should speak to your conveyancing lawyer regarding this.
I work for a long established estate agent office in Walsingham where we see a few flat sales jeopardised as a result of short leases. I have been given conflicting advice from local Walsingham conveyancing firms. Could you confirm whether the owner of a flat can initiate the lease extension process for the buyer?
As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer need not have to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or simultaneously with completion of the sale.
Alternatively, it may be possible to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.
Leasehold Conveyancing in Walsingham - A selection of Questions you should ask Prior to Purchasing
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This information is helpful as a) areas may result in problems for the building as the common areas may start to deteriorate if maintenance are not paid for b) if the leaseholders have an issue with the running of the building you will need to know about it How long is the Lease? Are any of leasehold owners in dispute over their service charge payments?
I was told by my mortgage company that their approved conveyancers work on no move no charge basis for conveyancing in Walsingham. My purchase fell through yet the conveyancers have invoiced for search fees! They say the fees are nothing to do with their fees!
Walsingham conveyancing search fees are separate expenses not solicitors costs as these are due to a third party.