It is a dozen years since I bought my house in Winchcombe. Conveyancing lawyers have just been instructed on the sale but I am unable to locate my title documents. Is this a major issue?
Don’t worry too much. First there is a chance that the deeds will be kept by your lender or they could still be with the solicitor who acted in your purchase. Secondly in most cases the title will be registered at the land registry and you will be able to prove you are the registered owner by your conveyancing lawyers procuring current official copies of the land registers. Almost all conveyancing in Winchcombe involves registered property but in the rare situation where your property is not registered it adds to the complexity but is not insurmountable.
Various internet forums that I have frequented warn that are the number one reason for delay in Winchcombe conveyancing transactions. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) published findings of research by MoveWithUs that conveyancing searches do not feature within the most frequent causes of hindrances during the legal transfer of property. Local searches are not likely to feature in any delay in conveyancing in Winchcombe.
Yesterday I discovered that there is a flying freehold element on a property I have offered on two weeks back in what should have been a simple, chain free conveyancing. Winchcombe is the location of the property. Is there any advice you can impart?
Flying freeholds in Winchcombe are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Winchcombe you would need to get your solicitor to go through the deeds thoroughly. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Winchcombe 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 residence.
I'm remortgaging my primary house to a buy to let mortgage with Chelsea Building Society and intend to use the remaining equity as a down payment on another property. The location we are interested in is Winchcombe. Will your lawyers be able to act for the two banks and link together the transactions?
Make use of our comparison tool on this site to ensure that the lawyers are approved by both mortgage companies. On the basis that they are your conveyancer should be able to connect the two conveyancing matters but you should have a chat with you lawyer and make clear your desired outcome and requirements.
I've recently bought a leasehold flat in Winchcombe. Do I have any liability for service charges for periods before my ownership?
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. A critical element 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 basement flat in Winchcombe, conveyancing was carried out July 1995. Can you please calculate a probable premium for a statutory lease extension? Corresponding properties in Winchcombe with over 90 years remaining are worth £181,000. The ground rent is £55 invoiced every year. The lease finishes on 21st October 2076
You have 51 years unexpired we estimate the price of your lease extension to be between £30,400 and £35,200 as well as plus your own and the landlord's "reasonable" professional fees.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more comprehensive investigations. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Neither should you move forward based on this information before getting professional advice.
Me and my fiance are about to complete buying a property in Winchcombe but as a result of wreckage from the recent storms I have agreed recompense from the owner of £3k by way of a deduction in the price. This was going to be addressed as part of the conveyancing process but the lender will not permit this. Should they have been informed?
The solicitor being on a mortgage company conveyancing panel is duty bound to advise the mortgage company of any amendments to the purchase price. If you prohibit your conveyancer to disclose the price change to your mortgage company then they would need to refrain from acting for you and the bank.