I have Fifty Six years remaining on my lease and require a lease extension for my flat in Chilwell. Conveyancing solicitors on the Chelsea Building Society panel can deal with such extensions correct?
Most leasehold conveyancing experts should be able to deal with a lease extension. if you are getting a mortgage then your lender may insist that the lease be extended before competition. Chelsea Building Society have specific requirements as set out in the UK Finance Lenders’ Handbook in relation to minimum unexpired lease terms. As of 23/7/2024 the requirements read as follows :
I am buying a property in Chilwell. An unusual aspect is that the roof has a solar panel. Virgin Money have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
As you are obtaining a mortgage with Virgin Money your lawyer must check the formal requirements outlined in Section two of UK Finance Lenders’ Handbook for Virgin Money. The CML Handbook includes minimum conditions for solar panel roof-space leases, and conveyancers are required to report to Virgin Money where a lease does not comply with these conditions. The conditions relate to the installation of panels on properties nationwide and is not isolated to Chilwell.
Planning on purchasing a house in Chilwell. 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 Virgin Money 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 Chilwell lawyer is on the Virgin Money conveyancing panel.
At last I have had an offer on a flat in Chilwell accepted, but there is a chain. The sellers have offered on a flat, however it’s not yet tied up, and are looking at other properties in the pipeline. I have instructed a high street conveyancing solicitor in Chilwell. What do I do now? At what point should I apply for the mortgage with Nationwide?
It is normal to have concerns where there is a chain as you are unlikely to want to incur costs prematurely (home loan application is approx £1k, then survey, Chilwell conveyancing search costs, etc). First, you should check that your lawyer is on the Nationwide conveyancing panel. As to the next phase this very much dictated by the specifics of your case, attraction to this property and on the state of the market. During a rising market many purchasers would apply for the mortgage with Nationwide and arrange for the valuation and only if it was satisfactory would they ask their conveyancing practitioner to move forward with searches.
It has been three months since my purchase conveyancing in Chilwell completed. I have checked the Land Registry website which shows that I paid £200,000 when infact I paid £160,000. 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 premises 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 Chilwell differ for newly converted properties?
Most buyers of new build premises in Chilwell approach us having been asked by the seller to exchange contracts and commit to the purchase even before the property is built. This is because builders in Chilwell tend to purchase the land, 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 conveyancers 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 Chilwell or who has acted in the same development.
I've recently found out that there is a flying freehold issue on a house I put an offer in last month in what was supposed to be a straight forward, no chain conveyancing. Chilwell is where the house is located. Can you offer any opinion?
Flying freeholds in Chilwell are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Chilwell you must be sure that your lawyer goes 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 Chilwell 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 residence.
I am looking to sell my property. My previous lawyers closed down. I am in need of a recommendation of a conveyancing firm. I happen to live in Chilwell if that makes a difference.
Do use our search tool to help you choose a solicitor for your conveyancing in Chilwell. We have connected thousands of home buyers and sellers with regulated solicitors to ensure that the legalities of their house move runs smoothly.