Why is leasehold purchase conveyancing in Blaby is more expensive?
In summary, leasehold conveyancing in Blaby and Leicestershire usually warrants additional hours of investigation compared to freehold conveyancing. This includes analysing the lease terms, communicating with the landlord about serving required notices, securing current service charge and management information, procuring the landlord’s consents and reviewing management accounts. The obligations on both the landlord and the tenant in the lease need to be studied by the buyer’s conveyancing team and read from beginning to end – regardless of the fact the lease has passed through many different property solicitors hands since it was first granted.
We had chosen conveyancing lawyers locally in Blaby on the UBS solicitor panel. They have just invoiced me an additional charge for dealing with the UBS mortgage. Is this an additional conveyancing fee set by UBS?
As unfair as it may appear, as long as it’s in their Terms and Conditions or estimate then yes your conveyancer is entitled to charge a fee for this. The fee is not set by UBS but by your Blaby conveyancing practitioner. Some firms on the UBS panel will levy an ‘acting for lender’ fee and others do not.
Planning on purchasing a maisonette in Blaby. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the HSBC 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 Blaby conveyancing practitioner is on the HSBC conveyancing panel.
I was told three weeks ago that my mortgage has been agreed to by Lloyds. Is it usual for Lloyds to only issue the offer once my solicitor in Blaby is approved on their conveyancing panel? Lloyds have asked my solicitor to see a copy of their PI Insurance.
A lender would not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for Lloyds to deal with your lawyer's application to be on the Lloyds conveyancing panel. There's no guarantee that your solicitor will be accepted.
three months have gone by following my purchase conveyancing in Blaby took place. I have checked the Land Registry website which shows that I paid £150,000 when infact I paid £170,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the property from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
How does conveyancing in Blaby differ for new build properties?
Most buyers of new build property in Blaby contact us having been asked by the builder to sign contracts and commit to the purchase even before the premises is built. This is because house builders in Blaby usually acquire the real estate, 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 conveyancing solicitors 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 used to new build conveyancing in Blaby or who has acted in the same development.
Yesterday I discovered that there is a flying freehold element on a house I have offered on a fortnight ago in what was supposed to be a quick, chain free conveyancing. Blaby is the location of the property. What do you suggest?
Flying freeholds in Blaby are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Blaby you must be sure that your lawyer goes through the deeds thoroughly. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Blaby 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.
What can I do to determine who owns a house in Blaby?
As long as the property is registered with HM Land Registry, and you have enough specifics of the address of the property, you should be able to obtain results from the HMLR of the recorded proprietor for a a minimal charge.