We are buying a 2 bedroom apartment in Bozeat with a mortgage. We like our Bozeat lawyer, but the mortgage company advise he's not on their "panel". It appears that we have no choice but to appoint one of the lender panel solicitors or keep our Bozeat conveyancer and pay for one of their panel lawyers to act for them. This seems very unfair; can we not demand that the bank use our Bozeat solicitor ?
Unfortunately,no. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the lender’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your Bozeat conveyancing solicitor to apply to be on the conveyancing panel.
I need some expedited conveyancing in Bozeat as I am faced with an ultimatum to sign on the dotted line inside one month. A mortgage is not required. Can I decline from having conveyancing searches to save fees and time?
If.Given you are are a mortgage free buyer you are at liberty not to have searches carried out although no conveyancer would suggest that you don't. Drawing on our experience of conveyancing in Bozeat the following are examples of what can crop up and therefore affect future saleability: Refused Planning Applications, Outstanding Charges, Outstanding Grants, Unadopted Roads,...
Yesterday I discovered that there is a flying freehold element on a house I have offered on last month in what should have been a quick, chain free conveyancing. Bozeat is the location of the property. What do you suggest?
Flying freeholds in Bozeat are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Bozeat you would need to get your solicitor to go through the deeds very carefully. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Bozeat 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.
In what way does the Landlord & Tenant Act 1954 affect my commercial premises in Bozeat and how can your lawyers assist?
The particular law that you refer to gives security of tenure to business tenants, giving them the legal entitlement to make a request to court for a continuation of occupancy at the end of the lease term. There are limited grounds that a landlord can refrain from granting a lease renewal and the rules are complex. Fees are different for commercial conveyancing. Bozeat is one of the hundreds of locations in which the firms we work with are based
I am tempted by the attractive purchase price for a couple of flats in Bozeat which have about 50 years unexpired on the leases. Will this present a problem?
There are plenty of short leases in Bozeat. The lease is a legal document that entitles you to use the premises for a prescribed time frame. As the lease shortens the marketability of the lease deteriorates and results in it becoming more costly to acquire a lease extension. For this reason it is advisable to increase the term of the lease. Sometimes it is difficult to sell a property with a short lease as mortgage companies may be unwilling to lend money on properties of this type. Lease extension can be a protracted process. We advise that you get professional assistance from a conveyancer and surveyor with experience in this area.
Leasehold Conveyancing in Bozeat - Examples of Questions you should consider before buying
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Please note if it is fewer than eighty years it will affect the salability of the property. Check with your mortgage company that they are willing to to proceed given the lease term. Leases with less than 80 years remaining means that you will probably have to extend the lease at some point and you need to have some idea of how much this will be. For most Bozeatlease extensions you will be required to have been the owner of the residence for a couple of years in order to be eligible to extend the lease. What restrictions are contained in the Bozeat Lease? This information is helpful as a) areas could cause problems for the block as the communal areas may begin to deteriorate if repairs are not paid for b) if the leasehold owners have an issue with the running of the building you will want to have all the details
I am an executor of my recently deceased parent's Will, with a bungalow in Bozeat which is to be sold. The bungalow is unregistered at HMLR and I'm advised that some purchasers will insist that it is completed before they'll move forward. What's the procedure for this?
In the situation you refer to it seems prudent to apply to register in the names of the personal representative(s) as named in the probate and in their capacity as PRs. HMLR’s online guidance explains how to register for the first time and what is required re the deeds and forms. You would need to include and certified copy of the probate as well and complete the form FR1 to refer to the PRs as the applicant.