It is is a decade since I acquired my property in Ferryside. Conveyancing solicitors have just been appointed on the sale but I am unable to track down the deeds. Is this a problem?
Don’t worry too much. Firstly the deeds may be with your lender or they may be in the possession of the solicitor who acted in your purchase. Secondly in most cases the property will be recorded at the land registry and you will be able to prove you are the registered owner by your conveyancing solicitors procuring current official copies of the land registers. Nearly all conveyancing in Ferryside relates to registered property but in the unlikely event that your property is not registered it adds to the complexity but is resolvable.
Do the Building Society Association intend to launch a online directory to to identify law firms on the Melton Mowbray Building Society conveyancing panel for example in Ferryside?
We have not been informed any intention on the part of the BSA to develop such a tool.
Yesterday I discovered that there is a flying freehold issue on a property I have offered on last month in what was supposed to be a straight forward, no chain conveyancing. Ferryside is where the house is located. What do you suggest?
Flying freeholds in Ferryside are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Ferryside you must be sure that your lawyer goes through the deeds diligently. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Ferryside 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 property.
My husband and I are 3 weeks into a leasehold purchase having been directed to conveyancers by the estate agent to perform conveyancing in Ferryside. I am not happy. Could you you assist me in finding new solicitors?
A conveyancer would have to be really bad to suggest replacing them. Has the mortgage offer been issued? In the event that it has you will need to advise them of the new contact details and get the mortgage documents are re-issued. Your conveyancer should be on the lenders approved list to avoid added expenses and complications. So that should be your first question of the new conveyancers. Our find a solicitor tool should help you find a lender approved solicitor for your conveyancing in Ferryside
Planning to complete next month on a studio apartment in Ferryside. Conveyancing lawyers inform me that they are sending me a report tomorrow. Are there areas in the report that I should be focusing on?
Your report on title for your leasehold conveyancing in Ferryside should include some of the following:
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The length of the lease term. You should receive guidance as what happens when the lease ends, and aware of the importance of the 80 year mark Where does the liability rest to repair and maintain the block. It is important for you to know which party is liable for the repair and maintenance of every part of the building Advice concerning the obligations as set out in the lease to pay service charges - with regard to both the building, and the more general rights a tenant enjoys Who has the liability for repairing the window frames Whether the landlord has obligations to ensure rights of quiet enjoyment over your property and do you know what it means in practice?
I own a split level flat in Ferryside, conveyancing was carried out 9 years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Comparable properties in Ferryside with over 90 years remaining are worth £181,000. The average or mid-range amount of ground rent is £55 levied per year. The lease expires on 21st October 2072
With just 51 years unexpired we estimate the premium for your lease extension to range between £30,400 and £35,200 plus costs.
The figure that we have given is a general guide to costs for extending a lease, but we are not able to supply the actual costs without more detailed investigations. You should not use the figures in a Notice of Claim or as an informal offer. There may be other issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Neither should you take any other action based on this information before seeking the advice of a professional.
When it comes to my conveyancing in Ferryside should I be paying VAT on the following: (1) Land reg fee on purchase (2) Pre - completion search fee (3) SDLT E submission on purchase (4) Bank TT fee
(1) Land reg fee on purchase - No (2) Pre - completion search fees -No, (such conveyancing searches are HMLR ones and means £4 and possibly £2 bankruptcy per name on your mortgage) (3) SDLT E submission on your purchase - There is no VAT on Stamp Duty. However if the firm is charging a stamp duty e-submission fee as part of their services - some Ferryside conveyancers do - that will incur VAT(4) Bank transfer fee - Yes it is for the conveyancing practitioner's time in submitting the funds this way.