Finally the sale completed on my house in Bubwith last October yet the purchaser is whats apping daily to say his lawyer is waiting to hear from mine. What are the post completion sale legalities following completion?
Following your sale your solicitor is obliged to deliver the transfer deeds and all of the paperwork to the purchaser's solicitors. If applicable, your lawyer must also confirm that the mortgage has been redeemed to the purchasers lawyers. There are no post completion formalities just for conveyancing in Bubwith.
Is it necessary during the course of the conveyancing process to visit the offices of the solicitor to execute the legal charge? If so, I will instruct a firm who offer conveyancing in Bubwith so that I can attend their offices if necessary.
These days approved lawyers for mortgage companies undertake all of the work via the post, internet or over the phone. This enables them to undertake the conveyancing transaction no matter where you live in England or Wales. Nevertheless you should see if you have the option of visiting the offices of your conveyancing lawyer if just in case this is required.
Have just purchased a repossessed house at auction in Bubwith. Conveyancing is needed. What happens now?
Having exchanged you should instruct a conveyancing practitioner as a matter of urgency as you now have a tight deadline in which to complete the purchase. All auction property will have an associated legal set of papers. This will include evidence of title and search results. If you have purchased leasehold premises the conveyancing papers may provide a copy of the lease, management information and a sellers leasehold information form and associated conveyancing paperwork relating to leasehold premises. You must give this to the conveyancer working for you ASAP. You also need to ensure that that you have the requisite funding organised to complete on the on the contractual date .
We are getting a further advance on our home loan from RBS as we want to conduct improvements to our house in Bubwith. Are we obliged to select a nearby Bubwith solicitor on the RBS conveyancing panel to deal with the paperwork?
RBS do not ordinarily instruct a member of their approved list of lawyers to handle the formalities. If they do require any legal work then you would need to ensure that such a lawyer was on the RBS list.
I have paid off my mortgage with Lloyds. I assume I don't need a Bubwith property lawyer on the Lloyds panel to discharge the mortgage at the Land Registry. Am I right?
If you have finished paying off your Lloyds mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Lloyds mortgage from the register. Lloyds, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Lloyds has sent the Land Registry the discharge electronically, and
- Lloyds has instructed the Land Registry to do so
Despite weeks of looking the Title Certificate and documents to my property are lost. The lawyers who handled the conveyancing in Bubwith 5 years ago no longer exist. What are my next steps?
Assuming the title is registered the information relating to your ownership will be recorded by HMLR under a Title Number. It is easy to carry out a search at the Land Registry, locate your house and order current copies of the Registered Entries for a small fee. Where the property is Leasehold then the Land Registry will usually hold a file copy of the Registered Lease and again, a copy can be ordered for £20 inclusive of VAT.
Yesterday I discovered that there is a flying freehold element on a house I put an offer in last month in what should have been a straight forward, no chain conveyancing. Bubwith is the location of the property. What do you suggest?
Flying freeholds in Bubwith are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Bubwith 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 Bubwith may determine 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 premises.
What makes a Bubwith lease unmortgageable?
Leasehold conveyancing in Bubwith is not unique. Most leases are drafted differently and legal mistakes in the legal wording can result in certain provisions are erroneous. The following missing provisions could result in a defective lease:
-
Insurance obligations
You will have difficulties when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Birmingham Midshires, Bank of Scotland, and TSB all have express conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is problematic they may refuse to provide security, forcing the purchaser to pull out.
I acquired a leasehold flat in Bubwith, conveyancing having been completed 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 Bubwith with over 90 years remaining are worth £170,000. The ground rent is £50 invoiced annually. The lease comes to an end on 21st October 2104
With 79 years remaining on your lease we estimate the premium for your lease extension to be between £7,600 and £8,800 plus costs.
The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more detailed investigations. Do not use the figures 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 want to be as accurate as possible in your negotiations. You should not move forward based on this information before seeking the advice of a professional.