We were going to get a OIP from Yorkshire BS this week so we can work out what to offer on a property we like as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc). Do Yorkshire BS recommend any Alvaston solicitors on the Yorkshire BS conveyancing panel, or is it better to go independently?
You will need to appoint Alvaston solicitors independently although you'll need to choose one on the Yorkshire BS conveyancing panel. The solicitor represents both you and Yorkshire BS through the process.
I have a mortgage with TSB for my property in Alvaston. Conveyancing has been completed 12 months ago. In the event that I decide to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform TSB?
You must advise TSB before renting your property as this is likely to be a breach of TSB’s mortgage conditions. It may be that TSB will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact TSB directly. It should not be necessary to do this via a TSB conveyancing panel firm.
I am selling my flat. I had a double glazing fitted in September 2008, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s lender, Principality are being pedantic. The Alvaston solicitor who is on the Principality conveyancing panel is saying indemnity insurance will be fine but Principality are insisting on a building regulation certificate. Why do Principality have a conveyancing panel if they don't accept advice from them?
It is probably the case that Principality have referred the matter to their valuer. The reason why Principality may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
I understand that there are debates on Chancel Insurance on online forums. Am I compelled to take this when acquiring a house in Alvaston? or I am told that there is historic law that could mean that owners of property living in a parish church boundary may be liable to contribute towards maintenance to the chancel in proximity to the church. Is this relevant for conveyancing in Alvaston?
Unless a previous acquisition of the house completed after 12 October 2013 you can take it that solicitors handling conveyancing in Alvaston to remain recommending a chancel search and or insurance against a claim.
I have recentlyfound out that Arc property Solicitors have closed. They conducted my conveyancing in Alvaston for a purchase of a leasehold apartment 9 months ago. How can I be sure that the property is not still registered in the name of the previous owner?
The easiest method to see if the property is in your name, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Alvaston conveyancing specialists.
Yesterday I discovered that there is a flying freehold element on a property I have offered on last month in what should have been a quick, no chain conveyancing. Alvaston is the location of the property. Is there any advice you can give?
Flying freeholds in Alvaston are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Alvaston you would need to get your solicitor to go through the deeds diligently. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Alvaston may decide 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.
There are only Sixty One years remaining on my flat in Alvaston. I now wish to get lease extension but my freeholder is can not be found. What should I do?
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 or your lawyers have made all reasonable attempts to find the landlord. For most situations a specialist should be helpful to carry out a search and prepare a report to be accepted by the court as evidence that the landlord can not be located. It is wise to seek advice from a conveyancer in relation to investigating the landlord’s disappearance and the application to the County Court covering Alvaston.
I purchased a basement flat in Alvaston, conveyancing having been completed 6 years ago. Can you please calculate a probable premium for a statutory lease extension? Comparable properties in Alvaston with a long lease are worth £191,000. The ground rent is £55 invoiced every year. The lease runs out on 21st October 2073
With just 53 years unexpired we estimate the premium for your lease extension to be between £27,600 and £31,800 as well as professional fees.
The suggested premium range above a general guide to costs for renewing a lease, but we are not able to advice on a more accurate figure without more comprehensive investigations. Do not use this information in a Notice of Claim or as an informal offer. There may be other concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Neither should you take any other action based on this information before seeking the advice of a professional.
I have finally had an offer on an flat in Alvaston agreed to, but there is a chain. The vendors have submitted an offer on somewhere, but it’s not yet agreed to, and has viewings of other properties in the pipeline. I have instructed a nearby conveyancing lawyer in Alvaston. What should be my next step? At what stage should I apply for the mortgage with Principality?
It is usual to have apprehensions where there is a chain given your reluctance to incur expenses too early (home loan application is approx £1k, then valuation, Alvaston conveyancing search charges, etc). The first course of action is to ensure that your conveyancer is on the Principality approved list. Concerning the next phase this very much dictated by the circumstances of your case, desire for the property and on the state of the market. During a rising market the majority of home buyers would apply for the mortgage with Principality and pay for the survey and only if it comes back ok would they ask their conveyancer to press on with searches.