I happen to be the only beneficiary of my late father’s will and I have everything in my name now, including the my former home in Bishops Stortford. The Bishops Stortford property was put into my name in September. I now wish to sell up. I understand that there is a Mortgage Lenders 6 month 'rule', which means that my proprietorship could be regarded the same way as though I had purchased the property in September. Will no one buy the property for half a year?
The CML handbook mandates conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you might be affected by that. Some mortgage companies would take a pragmatic view as this clause is principally there to pick up on the purchase and immediately sell or the quick reselling of property.
I had a mortgage agreed in principle with Virgin Money. Bishops Stortford conveyancing solicitors have been appointed. How long does it take for Virgin Money to issue the offer to the solicitor?
There is no definitive answer here. Have Virgin Money conducted the survey? Have you informed Virgin Money as to your lawyers' details and checked that your lawyers are on the Virgin Money conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
I am purchasing a property in Bishops Stortford. A rare aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender UBS be concerned?
Given that your lender is UBS your lawyer must check the conveyancing requirements set out in Section 2 of UK Finance Lenders’ Handbook for UBS. The CML Handbook sets out minimum requirements for solar panel roof-space leases, and solicitors are required to report to UBS where a lease does not satisfy these conditions. The provisions relate to the installation of panels on properties countrywide and is not restricted to Bishops Stortford.
I purchased a 4 bedroom Georgian property in Bishops Stortford. Conveyancing lawyer represented me and National Westminster Bank. I did a free Land Registry search last week and there are a couple of entries: one for freehold, another for leasehold with the exact same property. If a house is not a freehold shouldn't I have been informed?
You should read 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 proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Bishops Stortford and other areas of the country and poses no real issues for owners other than when they mortgage they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also check the position with your conveyancing lawyer who conducted the purchase.
Just had an offer accepted on a new build flat in Bishops Stortford. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build legal work.
Here are examples of a selection of leasehold new build enquiries that you can expect your new-build leasehold conveyancing in Bishops Stortford
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Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? Please confirm the Lease plans are architect prepared. Please provide evidence that the form of Lease proposed has been approved by the Land Registry.
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At this site get a fixed fee costs illustration from a Solicitor or Licensed Conveyancer that has a full understanding of the nuances for your conveyancing in Bishops Stortford. As opposed to estate agents and brokerage sites we do not have commission deals with solicitors. Many agents and online brokers 'recommend' the firm that pays the most per referral, rather than the best value conveyancing in Bishops Stortford
I am 18 days into a freehold purchase having been directed to conveyancers by the local agent to execute conveyancing in Bishops Stortford. We are not happy. Could you you assist me in finding new conveyancers?
A conveyancer would have to be really bad to suggest replacing them. Has the mortgage been generated? In the event that it has you need to advise them of the new contact details and get the loan are issued to the new lawyers. Your conveyancer needs to be on the mortgage company approved list to avoid escalating fees and delays. So that should be your first question of the new solicitors. Our search tool can assist you in finding a bank approved solicitor for your home move in Bishops Stortford
Expecting to exchange soon on a ground floor flat in Bishops Stortford. Conveyancing solicitors assured me that they report fully on Monday. What should I be looking out for?
Your report on title for your leasehold conveyancing in Bishops Stortford should include some of the following:
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Additions to the property You would want to receive a copy of the lease Repair and maintenance of the flat You should have a good understanding of the building insurance obligations Where does the liability rest for repairing the window frames
I own a 2 bed flat in Bishops Stortford, conveyancing was carried out half a dozen years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Comparable flats in Bishops Stortford with a long lease are worth £180,000. The ground rent is £65 charged once a year. The lease runs out on 21st October 2083
With only 59 years left to run the likely cost is going to be between £20,900 and £24,200 plus professional fees.
The suggested premium range 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 detailed due diligence. Do not use this information in tribunal or court proceedings. There are no doubt additional issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. Neither should you move forward based on this information without first seeking the advice of a professional.