My mortgage broker requires my Frant lawyer’ panel member for the Nat West conveyancing panel. How do I discover this. I have tried my local Frant branch but they don't know it.
You are best placed to get this information from your Frant property lawyer . They maintain a central record lender panel numbers.
Would the conveyancing solicitors Indexed on your site conduct auction conveyancing in Frant?
We know of a number of niche practitioners we can connect you with those who can conduct auction conveyancing. Frant is one of our locations where our lawyers are based.
My conveyancer has informed me that lack of planning permission insurance is needed on my purchase. What is the level of cover for Frant conveyancing?
The right level of lack of planning permission indemnity insurance depends on your lender. It would differ for example between Lloyds TSB Bank and Norwich and Peterborough Building Society. Conveyancing practitioners as opposed to members of the public take out such policies.
I am the sole recipient of my late father’s will with all property in now in my sole name, including the my former home in Frant. Conveyancing formalities meant that the Land Registry date was in October. I now wish to sell up. I understand that there is a Mortgage Lenders six month 'rule', meaning my proprietorship could be considered the same way as if I'd bought the property in October. Is the property unsalable for six months?
The Council of Mortgage Lenders’ handbook requires conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you might be impacted by that. How sensible a view banks take of it, depend on the lender as this obligation is chiefly there to capture the purchase and immediately sell or the wholesaling and assigning of property.
Last month we had a mortgage agreed in principle with TSB. Frant conveyancing lawyers were chosen. What is the average time that one could expect to receive a mortgage offer from TSB?
Some lenders take longer than others. Have TSB done the survey? Have you informed TSB as to your lawyers' details and checked that your lawyers are on the TSB conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
2 months have elapsed since my purchase conveyancing in Frant concluded. I have checked the Land Registry site which shows that I paid £150,000 when infact I paid £180,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the property from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
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. Frant is the location of the property. Can you shed any light on this issue?
Flying freeholds in Frant are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Frant you would need to get your solicitor to go through the deeds very carefully. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Frant may determine 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.
Can you provide any advice for leasehold conveyancing in Frant from the point of view of expediting the sale process?
- A significant proportion of the frustration in leasehold conveyancing in Frant can be reduced where you appoint lawyers the minute your agents start marketing the property and request that they start to collate the leasehold information needed by the purchasers’ representatives. If you are supposed to have a share in the Management Company, you should make sure that you have the original share document. Obtaining a duplicate share certificate can be a time consuming formality and delays many a Frant home move. Where a new share certificate is required, do contact the company director and secretary or managing agents (where relevant) for this as soon as possible. Some Frant leases require Licence to Assign from the landlord. If this applies to your lease, you should place the estate agents on notice to make sure that the purchasers obtain bank and professional references. Any bank reference should make it clear that the buyer is financially capable of paying the annual service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the actual amount of the service charge so that they can pass this information on to the buyers or their solicitors. The majority of landlords or Management Companies in Frant levy fees for supplying management packs for a leasehold property. You or your lawyers should enquire as to the actual amount of the charges. The management information sought as soon as you have a buyer, thus reducing delays. The average time it takes to obtain the necessary information is three weeks. It is the most common cause of delay in leasehold conveyancing in Frant. You may think that you are aware of the number of years left on your lease but it would be advisable verify this via your lawyers. A buyer’s lawyer will be unlikely to recommend their client to to exchange contracts if the remaining number of years is below 75 years. In the circumstances it is important at an as soon as possible that you consider whether the lease for your property needs extending. If it does, contact your solicitors before you put your premises on the market for sale.
I invested in buying a split level flat in Frant, conveyancing was carried out in 1996. How much will my lease extension cost? Equivalent flats in Frant with an extended lease are worth £211,000. The average or mid-range amount of ground rent is £50 charged once a year. The lease ceases on 21st October 2088
You have 68 years unexpired we estimate the price of your lease extension to be between £9,500 and £11,000 plus legals.
The figure above a general guide to costs for renewing a lease, but we are not able to supply the actual costs without more detailed investigations. You should not use the figures in tribunal or court proceedings. There may be additional issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. Please do not move forward based on this information before getting professional advice.