I am being told by my solicitor that lack of right of way insurance is necessary on my purchase. What is the typical level of cover needed for conveyancing in Whittlesey?
The right level of lack of right of way indemnity insurance should be dictated by who who your lender is. It would differ for example between Santander and Norwich and Peterborough Building Society. Conveyancing solicitors as opposed to members of the public take out such insurances.
I have today made my last payment due on my mortgage with UBS. I assume I don't need a Whittlesey lawyer on the UBS panel to discharge the mortgage at the Land Registry. Am I right?
If you have finished paying off your UBS 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 UBS mortgage from the register. UBS, 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 UBS has sent the Land Registry the discharge electronically, and
- UBS has instructed the Land Registry to do so
I have finally had an offer on an apartment in Whittlesey accepted, the sellers do nevertheless have a connected purchase. The sellers have put an offer on a flat, however it’s not yet tied up, and have viewings of other apartments booked. I have selected a high street conveyancing solicitor in Whittlesey. What should be my next step? When do I get the mortgage application with Coventry BS started?
It is understandable to have apprehensions where there is a chain as you are unlikely to want to incur expenses too early (home loan application is approx one thousand pounds, then survey, Whittlesey conveyancing search fees, etc). First, you should check that your solicitor is on the Coventry BS approved list. Concerning the subsequent stages this very much dictated by the specifics of your case, motivation for this property and on the state of the market. During a rising market some home buyers would apply for the mortgage with Coventry BS and pay for the valuation and only if it was satisfactory would they pay their lawyer to press on with searches.
I have todaybecome aware that Stirling Law have closed. They conducted my conveyancing in Whittlesey for a purchase of a leasehold apartment 18 months ago. How can I be sure that the property is in my name in the name of the previous owner?
The easiest method to check if the premises is in your name, you can carry out a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Whittlesey conveyancing specialists.
I'm buying my first flat in Whittlesey with the aid of help to buy. The sellers refused to budge the price so I negotiated five thousand pounds worth of fixtures and fittings instead. The estate agent advised me not reveal to my solicitor about this side-deal as it would impact my loan with Alliance & Leicester . Should I keep quiet?.
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 CML website. CML 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've recently found out that there is a flying freehold issue on a house I put an offer in last month in what should have been a quick, chain free conveyancing. Whittlesey is the location of the property. Can you offer any assistance?
Flying freeholds in Whittlesey are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Whittlesey you must be sure that your lawyer goes through the deeds very carefully. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Whittlesey may ascertain 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 property.
Can you offer any advice when it comes to choosing a Whittlesey conveyancing practice to carry out our lease extension conveyancing?
If you are instructing a property lawyer for your lease extension (regardless if they are a Whittlesey conveyancing practice) it is most important that they be familiar with the legislation and specialises in this area of work. We recommend that you speak with two or three firms including non Whittlesey conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. The following questions could be helpful:
-
If the firm is not ALEP accredited then what is the reason? How experienced is the practice with lease extension legislation?
I inherited a ground floor flat in Whittlesey, conveyancing having been completed 5 years ago. Can you give me give me an indication of the likely cost of a lease extension? Similar properties in Whittlesey with an extended lease are worth £265,000. The ground rent is £50 per annum. The lease expires on 21st October 2101
With just 76 years unexpired the likely cost is going to be between £8,600 and £9,800 plus costs.
The figure above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more detailed investigations. You should not use the figures in a Notice of Claim or as an informal offer. There may be other issues that need to be considered and clearly you should be as accurate as possible in your negotiations. You should not move forward placing reliance on this information before getting professional advice.
My aim is to acquire a garden apartment in Whittlesey. Conveyancing solicitor has been awaiting, from the seller, building insurance schedule. I was told today I was informed that the owner must forward the insurance paperwork for the flat above as well. Why would my property lawyer need to see the insurance for the flat above? Is it really required? We have been stalled for the previous 4 weeks…
It is not unheard of in leasehold conveyancing in Whittlesey to find Conveyancing in Whittlesey in a minority of cases reveals that the lease requires the tenant's to insure their individual flats rather than the freeholder insuring the entire property - which is definitely better. You should double check with your conveyancer but it would appear that your solicitor is looking to verify that the whole building is insured. Insuring your flat is no help when it comes to rebuilding after a fire if the other flat cannot be rebuilt as a result of lack of insurance.