It is 10 years ago since I bought my house in Dymock. Conveyancing solicitors have recently been appointed on the sale but I am unable to locate my deeds. Is this a problem?
You need not be too concerned. Firstly the deeds may be retained by the lender or they could be in the possession of the conveyancers who oversaw your purchase. Secondly the likelihood is that the title will be recorded at the land registry and you will be able to establish that you own the property by your conveyancing lawyers procuring current official copies of the land registers. Almost all conveyancing in Dymock relates to registered property but in the rare situation where your property is unregistered it adds to the complexity but is not insurmountable.
I have paid off my mortgage with Bank of Ireland. I assume I don't need a Dymock conveyancing practitioner on the Bank of Ireland panel to remove the mortgage at the Land Registry. Please confirm.
If you have finished paying off your Bank of Ireland 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 Bank of Ireland mortgage from the register. Bank of Ireland, 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 Bank of Ireland has sent the Land Registry the discharge electronically, and
- Bank of Ireland has instructed the Land Registry to do so
I can not fathom if my mortgage offer obliges me to make sure the lease term for the flat is extended prior to the completion date. I have telephoned my Dymock bank branch on various occasions and was told they are content with the situation and they will lend. My Dymock conveyancing solicitor - who is on the lender conveyancing panel- telephoned and was told they refuse to lend based on their specific requirements. Who do I believe?
Provided that the solicitor is on the mortgage company panel, she or he must adhere to the CML Handbook provisions for the lender. 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 lender to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
Kent Reliance have agreed my home loan in principle, my offer on a house in Dymock has been agreed to, now what?
Your estate agent will need to be advised as to your conveyancing practitioner's details (ensure that the property lawyers are on the bank’s panel). Contact Kent Reliance or your financial adviser and finalise any relevant forms. Kent Reliance will appoint a valuer who will get in contact with the estate agent or owners to schedule an appointment. Once conducted (assuming no problems) it takes approximately a fortnight to receive the mortgage offer. Kent Reliance will send the offer to you and your property lawyers. The legal work will then take it’s course according the nature and complexity of the conveyancing in Dymock.
I have todaybecome aware that Action Conveyancing have been shut down. They conducted my conveyancing in Dymock for a purchase of a leasehold apartment 10 months ago. How can I establish that the property is registered correctly in the name of the former proprietor?
The quickest method to see if the premises is registered to you, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Dymock conveyancing specialists.
How does conveyancing in Dymock differ for newly converted properties?
Most buyers of new build premises in Dymock come to us having been asked by the builder to exchange contracts and commit to the purchase even before the house is built. This is because house builders in Dymock typically acquire the real estate, 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 conveyancing solicitors 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 Dymock or who has acted in the same development.
I only have Fifty years left on my lease in Dymock. I need to extend my lease but my freeholder is can not be found. What should I do?
On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be lengthened by the magistrate. However, you will be required to demonstrate that you or your lawyers have used your best endeavours to locate the landlord. On the whole a specialist may be helpful to carry out a search and to produce a report to be accepted by the court as proof that the freeholder can not be located. It is wise to seek advice from a conveyancer both on devolving into the landlord’s disappearance and the application to the County Court overseeing Dymock.
I am the registered owner of a garden flat in Dymock, conveyancing formalities finalised 10 years ago. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Equivalent properties in Dymock with an extended lease are worth £190,000. The average or mid-range amount of ground rent is £45 levied per year. The lease ends on 21st October 2087
You have 62 years remaining on your lease the likely cost is going to be between £17,100 and £19,800 as well as professional fees.
The suggested premium range above a general guide to costs for renewing a lease, but we are not able to advice on a more accurate figure in the absence of detailed due diligence. Do not use this information in a Notice of Claim or as an informal offer. There may be additional issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Please do not move forward based on this information before seeking the advice of a professional.
At last I have had an offer on an flat in Dymock accepted, but there is a chain. The sellers have put an offer on a flat, however it’s not yet tied up, and has viewings of other properties booked. I have instructed a nearby conveyancing lawyer in Dymock. What should be my next step? At what point do I apply for the mortgage with Nottingham?
It is normal to have apprehensions where there is an associated chain given your reluctance to incur costs too early (mortgage application is approx one thousand pounds, then survey, Dymock conveyancing search costs, etc). The first course of action is to check that your solicitor is on the Nottingham conveyancing panel. As to the subsequent steps this very much depends on the circumstances of your case, desire for the property and on the state of the market. During a rising market some home buyers will apply for the mortgage with Nottingham and pay for the valuation and only if it was satisfactory would they request their lawyer to press on with searches.