It is is a decade since I purchased my home in Woodthorpe. Conveyancing lawyers have just been appointed on the sale but I can't find my title deeds. Is this a major issue?
Don’t worry too much. First the deeds may be kept by the mortgage company or they may be in the possession of the conveyancers who handled the purchase. Secondly the likelihood is that the title will be recorded at the land registry and you will be able to establish that you own the property by your conveyancing lawyers procuring current official copies of the land registers. The vast majority of conveyancing in Woodthorpe relates to registered property but in the unlikely event that your home is not registered it is more of a problem but is resolvable.
Me and my brother own a semi-detached Georgian house in Woodthorpe. Conveyancing solicitor represented me and Chelsea Building Society. I did a free Land Registry search last week and I saw a couple of entries: the first freehold, another for leasehold under the matching address. I thought I was buying a freehold how can I check?
You should review the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Woodthorpe and other locations in the country and poses no real issues for owners other than when they sell they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also check the situation with your conveyancing practitioner who conducted the conveyancing.
I have been on the look out for a flat up to £195,000 and found one round the corner in Woodthorpe I like with open areas and railway links nearby, however it's only got 52 remaining years left on the lease. I can't really find anything else in Woodthorpe for this price, so just wondered if I would be making a mistake acquiring a short lease?
If you require a home loan the shortness of the lease will be problematic. Discount the offer by the amount the lease extension will cost if it has not already been discounted. If the existing owner has owned the property for at least 2 years you may ask them to start the process of the extension and then assign it to you. You can add 90 years to the existing lease and have £0 ground rent by law. You should consult your conveyancing solicitor regarding this.
I need to find a conveyancing solicitor for sale conveyancing in Woodthorpe. I happened to land on a web site which seems to have the perfect offering If there is a chance to get all this stuff completed via phone that would be preferable. Do I need to be concerned? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
My wife and I purchased a leasehold house in Woodthorpe. Conveyancing and Birmingham Midshires mortgage organised. I have received a letter from someone saying they have taken over the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1994. The conveyancing practitioner in Woodthorpe who acted for me is not around. Do I pay?
The first thing you should do is make enquiries of HMLR to make sure that this person is indeed the registered owner of the freehold reversion. There is no need to incur the fees of a Woodthorpe conveyancing practitioner to do this as it can be done on-line for less than a fiver. You should note that in any event, even if this is the rightful landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I bought a studio flat in Woodthorpe, conveyancing formalities finalised 9 years ago. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Corresponding flats in Woodthorpe with a long lease are worth £190,000. The average or mid-range amount of ground rent is £45 invoiced every year. The lease ceases on 21st October 2087
With 62 years left to run we estimate the premium for your lease extension to span between £17,100 and £19,800 as well as legals.
The figure above a general guide to costs for extending a lease, but we are not able to advice on a more accurate figure in the absence of comprehensive investigations. You should not use this information in a Notice of Claim or as an informal offer. There may be other concerns 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 placing reliance on this information without first seeking the advice of a professional.
Our lawyer in Woodthorpe has requested from me ID documents saying that this is part of his legal duty as a solicitor on the mortgage company Solicitor panel. Is this right?
Anti-terror and anti-money-laundering rules require Woodthorpe conveyancing solicitors and licensed conveyancers to verify the identity of the person or body they are dealing with before they can accept their conveyancing business. The Terms and Conditions that you need to sign will no doubt confirm this. Your lawyer is right that the mortgage company also require certain documents to be viewed. If a you refuse to provide ID verification documents, your conveyancer would not be able to accept instructions from you. Your lawyer also has obligations to obtain certain documents in accordance with the bank's UK Finance Lenders’ Handbook requirements