My husband and I are buying a purpose built flat in Chinnor with a residential mortgage from Yorkshire Building Society.We use our Chinnor conveyancing practitioner but Yorkshire Building Society says she’s not listed on their "panel". It seems we are left with little choice but to instruct a Yorkshire Building Society panel lawyer or retain our preferred solicitor and pay for a Yorkshire Building Society panel lawyer to represent them. This seems very unfair; is there anything we can do?
Unfortunately,no. The home loan issued to you is subject to its terms and conditions, one of which will be that solicitors will be on the Yorkshire Building Society solicitor panel. in the past, most banks had large numbers of solicitors 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. Another option that might be available is for your lawyer to apply to be on the conveyancing panel for Yorkshire Building Society
I happen to be the sole beneficiary of my late father’s estate and I have everything in my name alone, including the house in Chinnor. Conveyancing formalities meant that the Land Registry date was in January. I now wish to sell up. I understand that there is a CML 6 month 'rule', which means that my proprietorship may be regarded the same way as if I'd bought the property in January. Do I have to wait half a year to sell?
The Council of Mortgage Lenders’ handbook obliges conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you may be affected by that. Some lenders would take a practical view as this requirement is principally there to capture subsales or the flipping of properties.
It is unclear whether my mortgage offer requires a lease extension. I have telephoned my Chinnor bank branch on various occasions and was reassured it wasn't an issue and they will lend. My Chinnor conveyancing solicitor - who is on the bank conveyancing panel- called and was told they refuse to lend based on their specific requirements. Who do I believe?
Provided that the conveyancing practitioner is on the mortgage company panel, she or he must adhere to the CML Handbook requirements for the bank. Unless your lawyer obtains specific confirmation in writing that the mortgage company will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the bank to contact your lawyer in writing confirming that they will accept the number of years remaining.
About to purchase apartment in Chinnor. 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 Nationwide 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 Chinnor conveyancing practitioner is on the Nationwide conveyancing panel.
How does conveyancing in Chinnor differ for new build properties?
Most buyers of new build residence in Chinnor approach us having been asked by the seller to exchange contracts and commit to the purchase even before the residence is finished. This is because new home sellers in Chinnor usually acquire 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 accustomed to new build conveyancing in Chinnor or who has acted in the same development.
I am looking for a ground for flat up to £195,000 and found one round the corner in Chinnor I like with amenity areas and transport links in the vicinity, however it's only got 52 years unexpired on the lease. There is not much else in Chinnor suitable, so just wondered if I would be making a grave error buying a short lease?
If you require a home loan the shortness of the lease may be an issue. Reduce the offer by the anticipated lease extension will cost if not already taken into account. If the current owner has owned the premises for a minimum of twenty four months you can request that they commence the lease extension formalities and pass it to you. You can add 90 years to the existing lease and have £0 ground rent by law. You should consult your conveyancing solicitor concerning this.
I own a leasehold house in Chinnor. Conveyancing and Accord Mortgages Ltd mortgage are in place. I have received a letter from someone saying they have taken over the freehold. It included a demand for arrears of ground rent dating back to 1996. The conveyancing practitioner in Chinnor who previously acted has now retired. Any advice?
The first thing you should do is contact the Land Registry to be sure that the individual claiming to own the freehold is indeed the registered owner of the freehold reversion. There is no need to incur the fees of a Chinnor conveyancing lawyer to do this as it can be done on-line for £3. Rest assured that in any event, even if this is the rightful freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I am the registered owner of a leasehold flat in Chinnor, conveyancing having been completed 3 years ago. How much will my lease extension cost? Comparable properties in Chinnor with a long lease are worth £202,000. The ground rent is £60 per annum. The lease expires on 21st October 2080
With 56 years unexpired the likely cost is going to range between £29,500 and £34,000 as well as costs.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to supply the actual costs in the absence of detailed due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt 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 take any other action placing reliance on this information before getting professional advice.
A conveyancing firm dealt with my conveyancing in Chinnor half a dozen years ago having archived my registration documents but has since been shut down – What can I do to get hold of these?
Title deeds, as such, no longer exist as most properties in Chinnor are recorded electronically at Land Registry. Should you need to prove evidence of proprietorship or are disposing of or re-mortgaging your lawyer should obtain up to date copies of the register from the Land Registry in any case.
If you feel there may be other documents or you have any other queries please e-mail your request with details of the transaction and documents you need to firstname.lastname@example.org. The CLC will let you know what information they have and any additional information they may need before they are in a position to identify and send the documents to you. Following an intervention it may take some time for the CLC to access archived files and documents, but your request will be actioned with reasonable haste.