As a FTB what is the most important number one tip you can impart concerning purchase conveyancing in Glenfield?
You may not hear this from too many lawyers but conveyancing in Glenfield or throughout England and Wales is often a confrontational experience. In other words, when it comes to conveyancing there exists an abundance of room for friction between you and others involved in the ownership transfer. E.g., the seller, property agent and on occasion the bank. Choosing a lawyer for your conveyancing in Glenfield should not be taken lightly as your conveyancer is your adviser, and is the ONLY party in the transaction whose interest is to act in your legal interests and to protect you.
We are witnessing a worrying increase of a "blame" culture- someone has to be blamed for the process taking so long. We recommend that you your first instinct should be to trust your lawyer above all other parties when it comes to the legal transfer of property.
I'm the sole recipient of my late grandmother’s estate with all property in now in my sole name, including the house in Glenfield. Conveyancing formalities meant that the Land Registry date was in December. I now wish to sell up. I do know about the CML six month 'rule', meaning my property ownership could be regarded the same way as if I'd bought the house in December. Is the property unsalable for six months?
The Council of Mortgage Lenders’ handbook instructs conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you might be caught by that. many lenders would take a sensible view as this obligation principally exists to identify the purchase and immediately sell or the flipping of property.
The mortgage over my property is with Aldermore for my property in Glenfield. Conveyancing has been completed a year ago. If I am intending to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Aldermore?
Aldermore must be informed of your intention before renting your property as this is likely to be a breach of Aldermore’s mortgage conditions. In many cases banks or building societies will permit you to let out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Aldermore directly. It should not be necessary to do this via a Aldermore conveyancing panel solicitor.
At last I have had an offer on a maisonette in Glenfield agreed to, the owners do nevertheless have an associated purchase. The sellers have put an offer on on an apartment, but it’s not been accepted yet, and have viewings of other flats booked. I have instructed a bricks and mortar conveyancing solicitor in Glenfield. What do I do now? At what point do I apply for the mortgage with Clydesdale?
It is understandable to have concerns where there is a chain as you are unlikely to want to be too out of pocket prematurely (mortgage application is in the region of one thousand pounds, then valuation, Glenfield conveyancing search costs, etc). First, you must ensure that your conveyancer is on the Clydesdale conveyancing panel. As to the next phase this very much depends on the specifics of your case, motivation for this property and on the state of the market. In a hot market some purchasers will apply for a home loan with Clydesdale and arrange for the valuation and only if it comes back ok would they pay their conveyancing practitioner to press on with the conveyancing in Glenfield.
We are buying a property and the solicitor has identified Chancel Repair for which the house may be liable as it falls into the area of such a church. She has mentioned insurance. Is this strictly appropriate for conveyancing in Glenfield
Unless a prior purchase of the premises completed after 12 October 2013 you can take it that lawyers conducting conveyancing in Glenfield to remain encouraging a chancel search and or chancel repair liability insurance.
How does conveyancing in Glenfield differ for new build properties?
Most buyers of new build residence in Glenfield contact us having been asked by the seller to sign contracts and commit to the purchase even before the house is ready to move into. This is because house builders in Glenfield tend to purchase the site, 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 Glenfield or who has acted in the same development.
I own a leasehold flat in Glenfield. Conveyancing and The Royal Bank of Scotland mortgage went though with no issue. I have received a letter from someone claiming to own the freehold. It included a demand for arrears of ground rent dating back to 1991. The conveyancing solicitor in Glenfield who previously acted has now retired. Any advice?
The first thing you should do is contact the Land Registry to make sure that this person is in fact the registered owner of the freehold reversion. There is no need to incur the fees of a Glenfield conveyancing solicitor to do this as it can be done on-line for a few pound. You should note that in any event, even if this is the rightful landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I acquired a studio flat in Glenfield, conveyancing was carried out half a dozen years ago. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Similar flats in Glenfield with over 90 years remaining are worth £186,000. The ground rent is £55 yearly. The lease finishes on 21st October 2076
With 53 years left to run we estimate the premium for your lease extension to be between £27,600 and £31,800 as well as professional fees.
The figure above a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of comprehensive investigations. Do not use this information in tribunal or court proceedings. There may be other issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information before seeking the advice of a professional.
How much experience do your Glenfield conveyancing solicitors have with Help To Buy, Shared Equity and similar schemes?
Glenfield conveyancing lawyers help thousands of people move home every year and assisted plenty of clients through the Help To Buy scheme. The chances are that whatever makes your case unique Glenfield conveyancers have worked on recent similar matters.