My brother-in-law has suggested I instruct a conveyancing solicitor in Wilton. I I am struggling to find out if they are on the Britannia approved list of lawyers. Could you advise?
The first thing you should do is contact your solicitor and ask them whether they are on the lender panel. Otherwise you should get in touch with Britannia who may be able to help.
Me and my partner are buying a property in Wilton. It might be a silly question but how we can trust a lawyer? At some point we will need to send funds into their account. What protection do we have from them run away with our monies?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
I have paid off my mortgage with Leeds Building Society. I assume I don't need a Wilton conveyancer on the Leeds Building Society panel to discharge the mortgage at the Land Registry. Please confirm.
If you have finished paying off your Leeds Building Society 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 Leeds Building Society mortgage from the register. Leeds Building Society, 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 Leeds Building Society has sent the Land Registry the discharge electronically, and
- Leeds Building Society has instructed the Land Registry to do so
I have finally had an offer on an apartment in Wilton accepted, but there is a chain. The owners have put an offer on a flat, but it’s not been accepted yet, and are looking at other apartments booked. I have instructed a local conveyancing solicitor in Wilton. What do I do now? When should I get the mortgage application with Leeds Building Society started?
It is normal to have concerns where there is a chain as you are unlikely to want to incur costs prematurely (mortgage application is approx one thousand pounds, then valuation, Wilton conveyancing search charges, etc). The first thing to do is check that your solicitor is on the Leeds Building Society approved list. Concerning the next steps this very much depends on the uniqueness of your transaction, motivation for this property and on the state of the market. In a hot market some purchasers will apply for the mortgage with Leeds Building Society and pay for the valuation and only if it was satisfactory would they request their conveyancing practitioner to proceed with searches.
The deeds to our home are lost. The solicitors who handled the conveyancing in Wilton 4 years ago have long since closed. What are my next steps?
In today’s world there are copies made of almost everything, and your conveyancer will be aware precisely where to find all the relevant paperwork so you can buy or sell your property without any difficulty. If copies are not available, your solicitor may be able to arrange cover in the form of insurance or indemnities against possible claims on your premises.
I am looking for a flat up to £195,000 and found one close by in Wilton I like with a park and station nearby, however it's only got 51 years unexpired on the lease. There is not much else in Wilton in this price bracket, so just wondered if I would be making a grave error buying a lease with such few years left?
Should you require a home loan the remaining unexpired lease term will likely be a potential deal breaker. Reduce the price by the anticipated lease extension will cost if not already taken into account. If the current proprietor has owned the property for at least 2 years you may request that they start the process of the extension and pass it to you. You can add 90 years to the current lease and have £0 ground rent by law. You should consult your conveyancing lawyer concerning this matter.
Do I need to be wary about brokers that I am dealing with are suggesting an online conveyancing firm as opposed to a local Wilton conveyancing practice?
As is the case with many service providers, often suggestions from relatives can be very helpful. Yet there are many people with a vested interest in a conveyancing matter; estate agents, financial adviser and banks may suggest conveyancers to use. Sometimes the solicitors might be known to one of the organisations as being good in their field, but occasionally there is an underlying financial incentive behind the endorsement. You are free to appoint your own conveyancer. You need to be aware that many lenders specify a panel list of law firms you are obliged to use for the lender aspect of your house move.
Last June I purchased a leasehold flat in Wilton. Am I liable to pay service charges relating to a period prior to my ownership?
In a situation where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I am the registered owner of a 1 bedroom flat in Wilton, conveyancing having been completed February 1997. Can you give me give me an indication of the likely cost of a lease extension? Similar flats in Wilton with a long lease are worth £195,000. The ground rent is £45 yearly. The lease expires on 21st October 2088
With just 63 years left to run we estimate the premium for your lease extension to range between £16,200 and £18,600 as well as professional fees.
The suggested premium range above a general guide to costs for extending a lease, but we are not able to provide the actual costs in the absence of comprehensive investigations. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information without first getting professional advice.