Is there a reason why leasehold purchase conveyancing in Wigston is more expensive?
Wigston leasehold properties involve far more paperwork than a freehold purchase, and therefore takes more time to examine and advise upon.Conveyancing will involve the lease having to be checked which is usually a lengthy document, queries raised to ensure that the covenants and conditions have been observed. If it is a flat there will be a management company in existence and the accounts of this will need to be checked and enquiries raised to ensure it is operating efficiently and that all monies due have been paid by the Seller to the company and if not ensuring that money is paid up to date or the appropriate undertakings obtained.
My grandmother passed away six months ago and as sole heir and executor I was left the property in Wigston. 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 Kent Reliance, pay off the mortgage. Is this allowed?
Given you plan to re-mortgage then Kent Reliance will require that you use a conveyancer on the Kent Reliance 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 Kent Reliance 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 Kent Reliance mortgage is registered as a charge at the Land Registry.
We had selected conveyancing lawyers located in Wigston on the Lloyds solicitor panel. They have just invoiced me a separate fee for handling the Lloyds mortgage. Is this an additional conveyancing fee set by Lloyds?
Provided it is contained in their Terms and Conditions or estimate then yes your property lawyer can levy a fee for this. The fee is not dictated by Lloyds but by your Wigston conveyancing practitioner. Numerous firms on the Lloyds panel will charge an ‘acting for lender’ fee and others do not.
Can I be sure that the Wigston conveyancing solicitor on the Leeds Building Society panel is any good?
When it comes to conveyancing in Wigston obtaining recommendations is a good starting point. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one which is cheap as chips. We would always advocate that you speak with the lawyer handling your conveyancing.
We have agreed to purchase a house in Wigston. An unusual aspect is that the roof has a solar panel. Lloyds have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
As you are obtaining a mortgage with Lloyds your lawyer must follow the formal requirements contained in Part 2 of UK Finance Lenders’ Handbook for Lloyds. The Council of Mortgage Lenders’ Handbook includes minimum conditions for solar panel roof-space leases, and lawyers are required to report to Lloyds where a lease fails to meet these conditions. The requirements relate to the installation of panels on properties countrywide and is not isolated to Wigston.
I am buying my first flat in Wigston benefiting from help to buy. The sellers refused to budge the amount so I negotiated £7000 of additionals instead. The property agent advised me not inform my conveyancer about the extras as it would put at risk my mortgage with Yorkshire Building Society. Is this normal?.
All lenders require a Disclosure of Incentives Form from the builder 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.
Yesterday I discovered that there is a flying freehold issue on a house I put an offer in a fortnight ago in what was supposed to be a simple, chain free conveyancing. Wigston is the location of the property. Is there any advice you can impart?
Flying freeholds in Wigston are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Wigston you would need to get your solicitor to go 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 Wigston 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.
I am a sole trader wishing to lease a unit on a shopping parade. Can you recommend conveyancers offering competitive charges for non-domestic conveyancing in Wigston for below £2000?
We can recommend firms who host a wealth of experience of commercial conveyancing in Wigston, including the sale and acquisition of businesses as well as simply premises. Whether you are hoping to acquire or sell a shop, pub, restaurant, office, retail premises or a whole business we can put you in touch with the right solicitor. As for the costs these will vary based on the structure and heads of terms of the proposed transaction. Let us have your contact information or email so as to enable us to supply you with a fixed commercial conveyancing calculation.