I have an AIP. The bank mentioned the home loan came with free conveyancing. Does this mean I have to use their panel lawyer as I would much rather instruct a local conveyancing solicitor in Wollaston?
Do check but the the likelihood is that give you one of their panel lawyers if you take up the "fee-free" incentive. Contact the mortgage company and ask if they offer you a monetary alternative. It is not unheard for a lender to give a £250 cashback as a further option in which case you could put that amount towards your preferred conveyancing solicitor in Wollaston.
I am the sole recipient of my late mum's will and I have everything in my name now, including the house in Wollaston. Conveyancing formalities meant that the Land Registry date was in November. I now wish to sell up. I understand that there is a CML six month 'rule', meaning my proprietorship could be regarded the same way as though I had purchased the house in November. Will no one buy the property for half a year?
The Council of Mortgage Lenders’ handbook obliges solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you might be caught by that. Some mortgage companies would take a pragmatic view as this requirement is primarily there to pick up on the purchase and immediately sell or the wholesaling and assigning of properties.
Can I be sure that the Wollaston conveyancing solicitor on the Principality panel is any good?
When it comes to conveyancing in Wollaston getting recommendations is a sensible 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 advise that you speak with the lawyer carrying out your conveyancing.
I have today made my last payment due on my mortgage with Barclays. I assume I don't need a Wollaston property lawyer on the Barclays panel to remove the mortgage at the Land Registry. Please confirm.
If you have finished paying off your Barclays 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 Barclays mortgage from the register. Barclays, 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 Barclays has sent the Land Registry the discharge electronically, and
- Barclays has instructed the Land Registry to do so
Yesterday I discovered that there is a flying freehold issue on a property I put an offer in a fortnight ago in what was supposed to be a straight forward, no chain conveyancing. Wollaston is where the house is located. Is there any advice you can impart?
Flying freeholds in Wollaston are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Wollaston you must be sure that your lawyer goes through the deeds very carefully. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Wollaston may determine 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.
We are a fortnight into a freehold purchase having been directed to conveyancers by the local agent to perform conveyancing in Wollaston. I am am extremely frustrated with the level of service. Can you you assist me in finding new solicitors?
A lawyer would need to be really bad to suggest diss instructing them. Has your mortgage been sent? In the event that it has you need to make them aware of the new conveyancer and ensure the mortgage documents are issued to the new lawyers. Your solicitor ideally should be on the banks panel to avoid added costs and delays. So that should be your starting point. The search tool can assist you in finding a lender approved solicitor for your home move in Wollaston
Having had my offer accepted I require leasehold conveyancing in Wollaston. Before I get started I require certainty as to the unexpired term of the lease.
Assuming the lease is recorded at the land registry - and most are in Wollaston - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
I bought a basement flat in Wollaston, conveyancing having been completed May 2012. How much will my lease extension cost? Equivalent flats in Wollaston with over 90 years remaining are worth £190,000. The ground rent is £45 invoiced annually. The lease comes to an end on 21st October 2086
With just 62 years remaining on your lease we estimate the premium for your lease extension to be between £17,100 and £19,800 plus costs.
The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you the actual costs without more detailed due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There may be additional issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. You should not take any other action based on this information without first getting professional advice.
Sixweeks into purchasing a residence in Wollaston. Conveyancing solicitor has phoned to say the title is "Leasehold". Does this adversely affect our Natwest valuation?
Wollaston conveyancing does not normally involve leasehold houses. The main consideration here is the length of lease and the ground rent. If it's 999 years with a nominal rent, it's virtually freehold, so it’s unlikely to affect the saleability significantly.
At the other extreme, if it's, say, fifty five years it is bound to have a significant effect on the value, and probably wouldn't be mortgageable. The remaining lease term and ground rent will be set out in the lease which should be made available to your conveyancer.