It is is a decade since I acquired my home in Feltwell. Conveyancing solicitors have just been retained on the sale but I can't locate the deeds. Is this a problem?
You need not be too concerned. First there is a possibility that the deeds will be retained by the mortgage company or they may be in the possession of the solicitor who oversaw the purchase. Secondly the chances are that the title will be recorded at the land registry and you will be able to prove you own the property by your conveyancing solicitors acquiring current official copies of the land registers. The vast majority of conveyancing in Feltwell involves registered property but in the unlikely event that your property is not registered it is more of a problem but is not insurmountable.
Me and my brother have a renovated Georgian property in Feltwell. Conveyancing practitioner represented me and Nottingham Building Society. I happened to do a free search for it on the Land Registry database and I saw two entries: one for freehold, another for leasehold under the matching property. I thought I was buying a freehold how can I check?
You should review the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Feltwell and other areas of the country and poses no real issues for owners other than when they buy they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also question the position with the conveyancing lawyer who conducted the conveyancing.
I am buying my first flat in Feltwell benefiting from help to buy. The builders refused to reduce the price so I negotiated five thousand pounds worth of additionals instead. The property agent advised me not inform my conveyancer about this deal as it could put at risk my mortgage with the bank. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I've recently found out that there is a flying freehold issue on a house I have offered on a fortnight ago in what should have been a quick, no chain conveyancing. Feltwell is where the house is located. Can you shed any light on this issue?
Flying freeholds in Feltwell are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Feltwell you would need to get your solicitor to go through the deeds diligently. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Feltwell may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
Due to complete next month on a studio apartment in Feltwell. Conveyancing solicitors inform me that they are sending me a report next week. What should I be looking out for?
The report on title for your leasehold conveyancing in Feltwell should include some of the following:
Responsibility for maintaining the window frames The landlord’s rights to access the premises. You should be made aware that your landlord has rights of access as well as be informed how much notice must be provided. Are pets allowed in the flat? You would want to be sent a copy of the lease specifics of the parties to the lease, e.g. these could be the (you), superior lessor, freeholder
I own a leasehold flat in Feltwell, conveyancing was carried out June 2001. Can you let me have an estimated range of the fair premium for a lease extension? Similar properties in Feltwell with over 90 years remaining are worth £222,000. The average or mid-range amount of ground rent is £50 levied per year. The lease ends on 21st October 2094
With 71 years remaining on your lease we estimate the premium for your lease extension to span between £9,500 and £11,000 plus legals.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of detailed investigations. You should not use the figures in tribunal or court proceedings. There are no doubt other concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Please do not take any other action based on this information without first seeking the advice of a professional.
Do banks and building societies provide you with an approved list of Feltwell solicitors? How do you know who is on the bank conveyancing panel?
Feltwell law firm practices and firms carrying out conveyancing in Feltwell themselves provide us confirmation that they are on the bank conveyancing panel as opposed to being supplied with a list from the lender directly.