When it comes to mortgage companies such as Bank of Ireland, do Great Stanmore conveyancers have to pay a fee to be on the conveyancing panel?
We are unaware of any bank fees to register on their panel, although some do levy an administration fee to deal with the processing of the conveyancing panel application.
I have today made my last payment due on my mortgage with Virgin Money. I assume I don't need a Great Stanmore property lawyer on the Virgin Money panel to discharge the mortgage at the Land Registry. Am I right?
If you have finished paying off your Virgin Money 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 Virgin Money mortgage from the register. Virgin Money, 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 Virgin Money has sent the Land Registry the discharge electronically, and
- Virgin Money has instructed the Land Registry to do so
Barclays have agreed my home loan in principle, my bid on a apartment in Great Stanmore has been accepted, what happens next?
Your estate agent will need to know who your solicitors are (be sure the lawyers are on the bank’s approved list). Contact Barclays or your financial adviser and finalise any appropriate documentation. Barclays will sellect a valuer who will get in contact with the estate agent or seller to book an appointment. Once conducted (assuming no problems) it takes approximately a fortnight to receive the mortgage offer. Barclays will send the offer to you and your property lawyers. The transaction will then take it’s course according the nature and complexity of the conveyancing in Great Stanmore.
It has been 3 months following my purchase conveyancing in Great Stanmore concluded. I have checked the Land Registry site which shows that I paid £175,000 when infact I paid £170,000. 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 premises 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.
How does conveyancing in Great Stanmore differ for newly converted properties?
Most buyers of new build property in Great Stanmore contact us having been asked by the seller to exchange contracts and commit to the purchase even before the property is ready to move into. This is because new home sellers in Great Stanmore typically acquire the land, 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 property lawyers 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 Great Stanmore or who has acted in the same development.
I am looking for a ground for flat up to £305k and found one round the corner in Great Stanmore I like with amenity areas and station in the vicinity, the downside is that it's only got 52 years unexpired on the lease. I can't really find anything else in Great Stanmore for this price, so just wondered if I would be making a grave error buying a lease with such few years left?
If you need a mortgage the remaining unexpired lease term will be an issue. Reduce the price by the amount the lease extension will cost if not already taken into account. If the current owner has owned the property for a minimum of twenty four months you may request that they start the process of the extension and pass it to you. You can add 90 years to the current lease term with a zero ground rent applied. You should speak to your conveyancing solicitor regarding this matter.
Am I right to be concerned by brokers that I am dealing with are recommending a nationwide conveyancing firm rather than a High Street Great Stanmore conveyancing practice?
As with many professional services, often suggestions from connections can be worth their weight in gold. Nevertheless there are many players in a conveyancing deal; estate agents, mortgage brokers and mortgage companies may suggest conveyancers to instruct. On occasion the conveyancers might be known to one of the organisations as being good in their field, but occasionally there exists a commercial relationship behind the recommendation. You have the discretion to select your own conveyancer. Don't forget that most banks have an approved list of lawyers you must use for the mortgage aspect of your transaction.
My fiance and I may need to rent out our Great Stanmore ground floor flat for a while due to a new job. We used a Great Stanmore conveyancing firm in 2003 but they have closed and we did not have the foresight to get any advice as to whether the lease prohibits the subletting of the flat. How do we find out?
Notwithstanding that your last Great Stanmore conveyancing lawyer is no longer around you can check your lease to see if you are permitted to let out the premises. The rule is that if the deeds are silent, subletting is allowed. Quite often there is a prerequisite that you need to obtain consent via your landlord or some other party prior to subletting. The net result is that you cannot sublet in the absence of prior permission. The consent should not be unreasonably refused ore delayed. If your lease prohibits you from subletting the property you should ask your landlord if they are willing to waive this restriction.
I am the registered owner of a basement flat in Great Stanmore. In the absence of agreement between myself and the freeholder, can the Leasehold valuation Tribunal make a decision on the sum due for a lease extension?
Most certainly. We are happy to put you in touch with a Great Stanmore conveyancing firm who can help.
An example of a Lease Extension case for a Great Stanmore flat is 27B Hillside in February 2010. the resulting premium, all other aspects of the valuation having been agreed between the parties was set at £8,250 This case related to 1 flat. The unexpired term was 70.25 years.