It is 10 years ago since I acquired my home in Wymondham. Conveyancing lawyers have recently been retained on the sale but I can't locate the deeds. Will this cause complications?
You need not be too concerned. Firstly there is a chance that the deeds will be kept by your lender or they may still be with the lawyers who handled your purchase. Secondly in most cases the land will be recorded at the land registry and you will be able to establish that you are the registered owner by your conveyancing lawyers obtaining current official copies of the land registers. Most conveyancing in Wymondham involves registered property but in the unlikely event that your property is unregistered it is more of a problem but is resolvable.
We had selected solicitors located in Wymondham on the Kent Reliance solicitor approved list. They are now charging me a separate amount for handling the Kent Reliance mortgage. Is this a supplemental conveyancing fee set by Kent Reliance?
Unfortunately, as long as it is in their Terms of Engagement or estimate then yes your conveyancer can levy a fee for this. The charge is not set by Kent Reliance but by your Wymondham solicitor. Some firms on the Kent Reliance panel will charge an ‘acting for lender’ fee and others do not.
We have a mortgage agreed in principle with Coventry BS. Wymondham conveyancing solicitors are selected. What is the average time that one could expect to receive a mortgage offer from Coventry BS?
There is no definitive answer here. Have Coventry BS conducted the valuation? Have you informed Coventry BS as to your lawyers' details and checked that your lawyers are on the Coventry BS conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
Intending to buy a maisonette in Wymondham. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Nationwide conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Wymondham conveyancing practitioner is on the Nationwide conveyancing panel.
I have a 4 bedroom Victorian house in Wymondham. Conveyancing lawyer represented me and Nottingham Building Society. I happened to do a free search for it on the Land Registry database and I saw two entries: the first freehold, another for leasehold with the exact same address. Is it worth asking Nottingham Building Society to clarify?
You should review the Freehold register you have again and check the Charges Register as there may be 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 Wymondham and other areas of the country and poses no real issues for owners other than when they remortgage they have to account for both freehold and leasehold interests when dealing with buyers. You can also check the situation with the conveyancing lawyer who conducted the conveyancing.
How does conveyancing in Wymondham differ for newly converted properties?
Most buyers of new build residence in Wymondham come to us having been asked by the seller to exchange contracts and commit to the purchase even before the property is ready to move into. This is because house builders in Wymondham typically acquire the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Wymondham or who has acted in the same development.
I am looking for a ground for flat up to £235,500 and found one close by in Wymondham I like with amenity areas and transport links nearby, the downside is that it only has 52 years unexpired on the lease. There is not much else in Wymondham for this price, so just wondered if I would be making a mistake purchasing a short lease?
Should you need a home loan that many years will be a potential deal breaker. Reduce the price by the amount the lease extension will cost if not already taken into account. If the current owner has owned the property for at least 2 years you can ask them to start the process of the extension and then assign it to you. An additional ninety years can be extended on to the existing lease with a zero ground rent applied. You should speak to your conveyancing lawyer regarding this.
I only have Sixty One years remaining on my lease in Wymondham. I am keen to get lease extension but my freeholder is missing. What are my options?
On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be extended by the Court. You will be obliged to prove that you have done all that could be expected to find the lessor. On the whole a specialist may be useful to try and locate and prepare a report to be used as evidence that the freeholder is indeed missing. It is wise to seek advice from a solicitor both on proving the landlord’s disappearance and the vesting order request to the County Court covering Wymondham.
Wymondham Conveyancing for Leasehold Flats - A selection of Queries before buying
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Are there any major works anticipated that will add a premium to the maintenance charges? You should be aware that where the lease has less than eighty years it will have adverse implications on the value of the flat. It is worth checking with your mortgage company that they are happy with residual term of the lease. A short lease means that you will almost definitely have to extend the lease sooner rather than later and you need to have some idea of what this would cost. For most Wymondhamlease extensions you will be required to have been the owner of the premises for two years before you are entitled to extend the lease. Does the lease include onerous restrictions?