I was notified today by my mortgage adviser that my Exton the law firm I have appointed is not on the bank Conveyancing panel. How can I be sure if this is correct?
The first thing you need to do is to call your Exton lawyer directly. It is reasonable to expect your lawyer to inform you of the situation. If they are not on the panel they could put your in touch with solicitors on the approved list of lawyers for your mortgage company.
A colleague informed me that in buying a property in Exton there could be various restrictions limiting what one can do in terms of external alterations to a property. Is this right?
We are aware of a number of properties in Exton which have some sort of restriction or requirement of consent to external changes. Part of the conveyancing in Exton should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
Two weeks ago we had a mortgage agreed in principle with Virgin Money. Exton conveyancing practitioners are appointed. How long does it take for Virgin Money to issue the offer to the conveyancing practitioner?
Some lenders take longer than others. Have Virgin Money conducted the survey? Have you advised Virgin Money as to your lawyers' details and checked that your lawyers are on the Virgin Money conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
I have today made my last payment due on my mortgage with TSB. I assume I don't need a Exton conveyancing practitioner on the TSB panel to discharge the mortgage at the Land Registry. Please confirm.
If you have finished paying off your TSB 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 TSB mortgage from the register. TSB, 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 TSB has sent the Land Registry the discharge electronically, and
- TSB has instructed the Land Registry to do so
I have been told that property searches are the number one reason for delay in Exton conveyancing transactions. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) released conclusions of research by MoveWithUs that conveyancing searches do not figure amongst the top 10 causes of delays during the legal transfer of property. Local searches are unlikely to feature in any delay in conveyancing in Exton.
How does conveyancing in Exton differ for newly converted properties?
Most buyers of new build property in Exton contact us having been asked by the housebuilder to sign contracts and commit to the purchase even before the premises is constructed. This is because developers in Exton tend to buy 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 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 Exton or who has acted in the same development.
How easy is it to transfer to a new solicitor as I need to appoint one who is on the Godiva Mortgages Ltd conveyancing panel. I instructed a high street conveyancing solicitor in Exton five minutes from me but she is not approved by Godiva Mortgages Ltd
It would be our pleasure to assist you find a conveyancing solicitor in Exton on the Godiva Mortgages Ltd panel. Please note that the solicitors that we on the directory do not pay us a referral fee if you instruct them and are fully regulated by the SRA who regulate all conveyancing solicitors in Exton. In making use of the find a conveyancing solicitor tool on this page, you can scrutinise costs for conveyancing solicitors in Exton and throughout England and Wales.
I own a leasehold house in Exton. Conveyancing and Accord Mortgages Ltd mortgage are in place. I have received a letter from someone claiming to own the freehold. It included a demand for arrears of ground rent dating back to 1997. The conveyancing solicitor in Exton who previously acted has long since retired. Any advice?
First make enquiries of HMLR to make sure that the individual purporting to own the freehold is in fact the registered owner of the freehold reversion. You do not need to incur the fees of a Exton conveyancing solicitor 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 legitimate landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I invested in buying a studio flat in Exton, conveyancing formalities finalised 3 years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Corresponding flats in Exton with over 90 years remaining are worth £202,000. The ground rent is £60 yearly. The lease expires on 21st October 2083
With only 57 years unexpired the likely cost is going to be between £28,500 and £33,000 as well as costs.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more detailed investigations. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be considered and you obviously 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.