We're in Heckmondwike, First time buyers buying with a mortgage (lender is Virgin Money , and our solicitor is on the Virgin Money conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Virgin Money conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no conveyancing practitioner should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
Me and my partner are purchasing a property in Heckmondwike. I might seem paranoid but how we can trust a conveyancer? On completion day we have to put money into their account. What is the protection we have from them run away with our deposit?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
The mortgage over my property is with Lloyds for my property in Heckmondwike. Conveyancing has been completed months 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 buy-to-let mortgage or inform Lloyds?
Lloyds must be informed of your intention in advance of renting your property as this is likely to be a breach of Lloyds’s mortgage conditions. It may be that Lloyds will allow you to rent 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 Lloyds directly. You need not do this via a Lloyds conveyancing panel solicitor.
Planning on purchasing a apartment in Heckmondwike. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Virgin Money conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Heckmondwike solicitor is on the Virgin Money conveyancing panel.
I require quick conveyancing in Heckmondwike as I am faced with an ultimatum to complete inside one month. A mortgage is not required. Can I avoid the conveyancing searches to save fees and time?
As you are not getting a mortgage you have the choice not to have searches carried out although no conveyancer would advise that you don't. With lots of history conveyancing in Heckmondwike the following are instances of issues that can be revealed and therefore affect the marketability of the property: Refused Planning Applications, Outstanding Fees, Overdue Grants, Railway Schemes,...
Yesterday I discovered that there is a flying freehold issue on a house I have offered on two weeks back in what was supposed to be a quick, chain free conveyancing. Heckmondwike is where the house is located. Is there any guidance you can give?
Flying freeholds in Heckmondwike are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Heckmondwike you must be sure that your lawyer goes through the deeds very carefully. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Heckmondwike 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 premises.
In what way can the Landlord & Tenant Act 1954 impact my commercial premises in Heckmondwike and how can you help?
The particular law that you refer to gives protection to business lessees, giving them the legal entitlement to make a request to court for a continuation of occupancy when the lease comes to an end. There are limited grounds where a landlord can refrain from granting a lease renewal and the rules are involved. Fees are different for commercial conveyancing. Heckmondwike is one of our hundreds of locations in which the firms we work with are located
Back In 2001, I bought a leasehold flat in Heckmondwike. Conveyancing and Halifax mortgage organised. A letter has just been received from someone claiming to own the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1997. The conveyancing solicitor in Heckmondwike who acted for me is not around. What should I do?
First make enquiries of HMLR to be sure that the individual purporting to own the freehold is in fact the new freeholder. You do not need to instruct a Heckmondwike conveyancing practitioner to do this as you can do this on the Land Registry website for £3. You should note that in any event, even if this is the legitimate freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I purchased a garden flat in Heckmondwike, conveyancing was carried out 9 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? Equivalent flats in Heckmondwike with over 90 years remaining are worth £207,000. The average or mid-range amount of ground rent is £60 levied per year. The lease comes to an end on 21st October 2078
You have 57 years unexpired we estimate the premium for your lease extension to be between £28,500 and £33,000 plus legals.
The figure above a general guide to costs for renewing a lease, but we are not able to provide the actual costs without more detailed due diligence. Do not use this information in a Notice of Claim or as an informal offer. There may be additional concerns 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 without first seeking the advice of a professional.