My IFA has requested my Godshill lawyer’ panel member for the Lloyds conveyancing panel. How do I discover this. I have called my local Godshill office but they have not got back to me yet.
You are best placed to get this information from your Godshill conveyancer . They keep a central record lender panel numbers.
I purchased a freehold residence in Godshill but nevertheless charged rent, why is this and what is this?
It is rare for properties in Godshill and has limited impact for conveyancing in Godshill but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges have existed for many centuries, but the Rent Charge Act 1977 barred the creation of fresh rentcharges from 1977 onwards.
Old rentcharges can now be redeemed by making a one off payment under the Act. Any rentcharges that are still in existence after 2037 will be extinguished.
I have today made my last payment due on my mortgage with Lloyds. I assume I don't need a Godshill solicitor on the Lloyds panel to remove the mortgage at the Land Registry. Please confirm.
If you have finished paying off your Lloyds 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 Lloyds mortgage from the register. Lloyds, 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 Lloyds has sent the Land Registry the discharge electronically, and
- Lloyds has instructed the Land Registry to do so
The mortgage over my property is with Leeds Building Society for my property in Godshill. Conveyancing was finalised a year ago. If I am intending to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Leeds Building Society?
Leeds Building Society must be informed of your intention before letting out your property as this is likely to be a breach of Leeds Building Society’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 Leeds Building Society directly. You need not do this via a Leeds Building Society conveyancing panel solicitor.
After weeks of negotiation I have agreed a price on a house in Godshill. My mortgage broker suggested a solicitor. I paid an advanced payment of £150. A few days later, the conveyancer contacted me to say that they were not on the Nationwide conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Nationwide panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
I have recentlydiscovered that Arc property Solicitors have closed. They carried out my conveyancing in Godshill for a purchase of a leasehold apartment 12 months ago. How can I be sure that my home is registered correctly in the name of the previous owner?
The easiest method to see if the premises is registered to you, you can carry out a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Godshill conveyancing specialists.
I have been on the look out for a ground for flat up to £245,000 and found one round the corner in Godshill I like with open areas and railway links nearby, the downside is that it only has 49 years on the lease. I can't really find anything else in Godshill for this price, so just wondered if I would be making a mistake purchasing a lease with such few years left?
If you require a mortgage the remaining unexpired lease term will likely be a potential deal breaker. Discount the price by the expected lease extension will cost if not already taken into account. If the existing owner has owned the premises for a minimum of 2 years you could request that they commence the lease extension formalities and pass it to you. You can add 90 years to the existing lease and have £0 ground rent by law. You should speak to your conveyancing lawyer concerning this matter.
I have just appointed agents to market my garden flat in Godshill. Conveyancing solicitors are to be appointed soon, however I have just had a half-yearly maintenance charge demand – Do I pay up?
The sensible thing to do is pay the service charge as normal given that all ground rent and maintenance payments will be apportioned as part of the financial calculations for completion monies, so you will be reimbursed by the purchaser for the period running from after the completion date to the subsequent invoice date. Most managing agents will not acknowledge the buyer unless the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.
Leasehold Conveyancing in Godshill - Sample of Queries before Purchasing
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Please tell me if there are any major works in the planning that could increase the service charges? Be sure to discover if there are any onerous restrictions in the lease. For example plenty of leases prohibit pets being permitted in certain buildings in Godshill. If you love the flatin Godshill yet your dog can’t move with you then you have a very hard compromise.