AssumingI was to purchase a straightforward housein Hook for cash and have no survey and no conveyancing searches how much could I expect to to save on my conveyancing in Hook?
Any savings you would gain will be isolated to the costs for searches. The conveyancer still got to do everything else - money laundering, correspond with the vendors lawyer, SDLT return, register the ownership etc. A marginal saving might be made by not having to register a mortgage however it will not be meaningful.
We see that you have a post code search directory listing solicitors on the Coventry BS conveyancing panel. Do firms pay you a commission if I retain them for our conveyancing in Hook?
We are a listing service only for law firms wishing to communicate if they are on the Coventry BS conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Hook.
We are getting a further advance on our home loan from RBS as we wish to conduct alterations to our property in Hook. Are we obliged to select a bricks and mortar Hook solicitor on the RBS conveyancing panel to deal with the legals?
RBS do not ordinarily appoint firms on their conveyancing panel to handle such a matter. If they do require any legal work then you would need to ensure that such a lawyer was on the RBS conveyancing panel.
I have decided to exercise my right to buy my property in Hook off the council. I have a mortgage offer with HSBC. Conveyancing is not something I have any knowledge of. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with HSBC, you will need to appoint a solicitor on the HSBC conveyancing panel.
I currently have a mortgage with Lloyds for my property in Hook. Conveyancing was finalised a year ago. Should I wish 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 Lloyds?
Your original mortgage agreement with Lloyds will provide that you need their approval 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 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 Lloyds directly. It should not be necessary to do this via a Lloyds conveyancing panel solicitor.
My wife and I purchased a semi-detached Victorian house in Hook. Conveyancing practitioner acted for me and Britannia. I did a free Land Registry search last week and I saw a couple of entries: one for freehold, another for leasehold with the matching property. If a house is not a freehold shouldn't I have been informed?
You should assess the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Hook and other areas of the country and poses no real issues for owners other than when they remortgage they have to account for both freehold and leasehold interests when dealing with purchasers. You can also check the position with the conveyancing solicitor who conducted the purchase.
Due to the encouragement of my in-laws I had a survey completed on a property in Hook prior to instructing solicitors. I have been advised that there is a flying freehold element to the house. The surveyor has said that some banks will not grant a mortgage on such a house.
It varies from the lender to lender. HSBC has different requirements for example to Nationwide. Should you wish to call us we can investigate further via the appropriate bank. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Hook. Conveyancing may be slightly more expensive based on your lender's requirements.
I am looking at a couple of maisonettes in Hook both have about fifty years unexpired on the lease term. Should I regard a short lease as a deal breaker?
There is no doubt about it. A leasehold apartment in Hook is a deteriorating asset as a result of the shortening lease. The nearer the lease gets to zero years unexpired, the more it adversely affects the marketability of the property. For most buyers and lenders, leases with less than eighty years become less and less attractive. On a more upbeat note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of a residence with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Hook conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending the lease. You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that the agreed terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.
I have tried to negotiate informally with with my landlord to extend my lease without any joy. Can I make an application to the Leasehold Valuation Tribunal? Can you recommend a Hook conveyancing firm to act on my behalf?
in cases where there is a missing landlord or if there is disagreement about the premium for a lease extension, under the relevant legislation it is possible to make an application to the LVT to assess the price payable.
An example of a Lease Extension decision for a Hook residence is Flat D 15 Claremont Gardens in September 2013. TheTribunal determined in accordance with section48 and Schedule13 of the Leasehold Reform,Housing and Urban Development Act 1993 that the premium for the extended lease should be fourteen thousand one hundred and eighty seven pounds (£14,187.00) This case was in relation to 1 flat.