I have given 8 weeks notice to my existing landlord and have to leave my rented property in East Barming by the end of next month. Conveyancing for my house purchase is underway. How realistic is it to complete in 4 weeks as don't want to have to find short term accommodation?
The normal practice is not to serve notice for your lease unless your lawyer suggests that you should. If you have not previously done so, contact to your solicitor and request that they apply pressure on the other side, try to get a realistic time scale from them that everyone will look towards
My uncle passed away last year and as sole heir and executor I was left the house in East Barming. The house had a relatively small loan left on it of around £5k. I want to have the title changed into my name whilst I re-mortgage to Santander, pay off the mortgage. Is this possible?
Given you plan to re-mortgage then Santander will insist on your using a conveyancer on the Santander conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Santander conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Santander mortgage is registered as a charge at the Land Registry.
I have been told by my lawyer that absentee landlord insurance is required on my purchase. What is the typical level of cover needed for conveyancing in East Barming?
The appropriate level of absentee landlord indemnity insurance should be dictated by who your lender. It would differ for example between Birmingham Midshires and Chelsea Building Society. Conveyancing solicitors as opposed to members of the public take out such policies.
Is there a list of Barclays panel conveyancers in East Barming on the UK Finance Lenders’ Handbook Website?
No. There is no such facility on the Council of Mortgage Lenders or Building Society Association sites. A small selection of lenders make their panel listings visible online. Where you are in need of a East Barming conveyancing practitioner on the Barclays please make the most of our facility.
We previously instructed solicitors based in East Barming on the UBS solicitor approved list. They have just invoiced me a further amount for dealing with the UBS mortgage. Is this an additional conveyancing fee specified by UBS?
Unfortunately, so long as it is in their Terms and Conditions or Quote then yes your property lawyer can levy a fee for this. This fee is not dictated by UBS but by your East Barming conveyancer. Plenty of firms on the UBS panel will levy ’dealing with mortgage’ fee but some firms include it on their overall fee.
Is it necessary to take out insurance to cover chancel repairs when acquiring a residence in East Barming?
Unless a previous acquisition of the house took place after 12 October 2013 you may expect conveyancing practitioners carrying out conveyancing in East Barming to remain encouraging a chancel search and or chancel repair liability insurance.
I am looking at a couple of flats in East Barming both have approximately fifty years left on the leases. Will this present a problem?
There are plenty of short leases in East Barming. The lease is a legal document that entitles you to use the premises for a period of time. As the lease gets shorter the saleability of the lease decreases and it becomes more expensive to extend the lease. For this reason it is advisable to increase the term of the lease. More often than not it is difficult to sell a property with a short lease as mortgage lenders less inclined to grant a loan on properties of this type. Lease extension can be a difficult process. We advise that you get professional help from a solicitor and surveyor with experience in this field.
I inherited a studio flat in East Barming, conveyancing was carried out in 2002. How much will my lease extension cost? Comparable flats in East Barming with a long lease are worth £195,000. The ground rent is £45 invoiced annually. The lease ceases on 21st October 2088
You have 63 years remaining on your lease we estimate the price of your lease extension to span between £16,200 and £18,600 as well as plus your own and the landlord's "reasonable" professional fees.
The figure that we have given is a general guide to costs for extending a lease, but we are not able to provide the actual costs without more detailed investigations. You should not use this information in tribunal or court proceedings. There are no doubt other issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information without first seeking the advice of a professional.
How much should conveyancing in East Barming cost?
The total sum levied for conveyancing in East Barming can differ dramatically from firm to firm. This makes it especially critical for you to have a complete summary of fees when you first appoint a lawyer. You should also consider asking a couple quotes.