I am obtaining a offer of a home loan from Lloyds. My intention is to employ the services of a Licensed Conveyancer in Croston. Does the Lloyds Conveyancing panel include conveyancers regulated by the CLC?
The Lloyds approved solicitor list is, like many other lenders, represented by the CML or Building Society Association, open to Licensed Conveyancers regulated by the Council of Licensed Conveyancers.
My fiance and I intend to remortgage our penthouse in Croston with Leeds Building Society. We have a son 18 who lives with us. Our solicitor requested us to identify anyone over the age of 17 other than ourselves who lives in the flat. Our lawyer has now e-mailed a document for our son to sign, giving up any rights in the event that the apartment is forfeited by the lender. I have a couple of questions (1) Is this form unique to the Leeds Building Society conveyancing panel as he never had to sign this form when we purchased 3 years ago (2) In signing this form is our son in any way compromising his right to inherit the property?
On the face of it your lawyer has done nothing wrong as it is established procedure for any occupier who is aged 17 or over to sign the necessary Consent Form, which is purely to state that any rights he has in the property are postponed and secondary to Leeds Building Society. This is solely used to protect Leeds Building Society if the property were re-possessed so that in such circumstances, your son would be legally obliged to leave. It does not impact your son’s right to inherit the apartment. Please note that if your son were to inherit and the mortgage in favour of Leeds Building Society had not been discharged, he would be liable to take over the loan or pay it off, but other than that, there is nothing stopping him from keeping the property in accordance with your will or the rules of intestacy.
It is 10 years ago since I purchased my house in Croston. Conveyancing solicitors have just been retained on the sale but I am unable to find my title deeds. Is this a problem?
Don’t worry too much. Firstly the deeds may be kept by your lender or they could still be with the lawyers who acted in your purchase. Secondly the chances are that the land will be recorded at the land registry and you will be able to prove you are the registered owner by your conveyancing solicitors acquiring current official copies of the land registers. The vast majority of conveyancing in Croston relates to registered property but in the rare situation where your property is not registered it adds to the complexity but is resolvable.
If you had a top tip for selecting a conveyancing solicitor in Croston what would it be?
We would encourage you not to go for the cheapest Croston conveyancing costs illustration. You really do get what you’re paying for when it comes to conveyancing solicitors. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you know exactly what you’ll have to pay in ahead of the deal.
A relative informed me that in purchasing a property in Croston there may be a number of restrictions prohibiting external alterations to the property. Is this right?
We are aware of a number of properties in Croston which have some sort of restriction or requirement of consent to execute external variations. Part of the conveyancing in Croston should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
I have today made my last payment due on my mortgage with Aldermore. I assume I don't need a Croston conveyancing practitioner on the Aldermore panel to discharge the mortgage at the Land Registry. Am I right?
If you have finished paying off your Aldermore 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 Aldermore mortgage from the register. Aldermore, 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 Aldermore has sent the Land Registry the discharge electronically, and
- Aldermore has instructed the Land Registry to do so
Do I need to be suspicious that estate agents that I am dealing with are recommending a nationwide conveyancing firm as opposed to a local Croston conveyancing practice?
As with lots of professional services, often referrals from family and friends can be extremely useful or valuable. Yet there are lots of players in a conveyancing transaction; estate agents, financial adviser and mortgage companies might all put forward solicitors to use. Sometimes the lawyers might be known to one of the organisations as being good in their field, but occasionally there may be a financial incentive behind the endorsement. You are free to select your own lawyer. However, bear in mind that the majority of mortgage providers operate an approved list of law firms you are obliged to use for the mortgage related work in your transaction.
My wife and I purchased a leasehold house in Croston. Conveyancing and The Mortgage Works mortgage organised. I have received a letter from someone saying they have taken over the reversionary interest in the property. It included a ground rent demand for rent dating back to 1997. The conveyancing solicitor in Croston who acted for me is not around. Any advice?
First make enquiries of the Land Registry to be sure that this person is in fact the registered owner of the freehold reversion. You do not need to instruct a Croston conveyancing lawyer to do this as you can do this on the Land Registry website for a few pound. Rest assured that in any event, even if this is the rightful freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I own a split level flat in Croston, conveyancing having been completed May 2009. Can you work out an approximate cost of a lease extension? Corresponding flats in Croston with an extended lease are worth £190,000. The average or mid-range amount of ground rent is £65 invoiced every year. The lease terminates on 21st October 2084
You have 61 years remaining on your lease we estimate the price of your lease extension to be between £18,100 and £20,800 as well as costs.
The figure above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more detailed due diligence. You should not use this information in tribunal or court proceedings. There may be other concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information before seeking the advice of a professional.