My partner and I are purchasing a newly constructed flat in Kegworth and my solicitor is informing me that she has to the mortgage company to reveal incentives from the builder. I am under pressure to exchange and my preference is not to delay the conveyancing. is my lawyer playing by the book?
You should not exchange unless you have been advised to do so by your conveyancing practitioner. A precondition to being on a mortgage company panel is to comply with the UK Finance Lenders’ Handbook conditions. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
My grandfather passed away 10 months ago and as sole heir and executor I was left the property in Kegworth. The house had a small mortgage left on it of around £8000. I want to transfer the title deeds into my name whilst I re-mortgage to Aldermore, pay off the mortgage. Is this possible?
Given you plan to refinance then Aldermore will require that you use a conveyancer on the Aldermore conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Aldermore conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Aldermore mortgage is registered as a charge at the Land Registry.
I bought my apartment on 4 February and the transaction details is yet to be on the land registry website. Need I be worried? My conveyancing solicitor in Kegworth said it should be formalised inside ten days. Are titles in Kegworth uniquely lengthy to register?
As far as conveyancing in Kegworth registration is no faster or slower than the rest of England and Wales. As opposed to being determined by geographic area, timeframes can differ subject to who lodges the application, whether there are errors and if the Land registry must send notices to any 3rd parties. At present in the region of three quarters of such applications are fully dealt with within 12 days but occasionally there can be longer hold-ups. Registration takes place once the purchaser is living at the premises so an expedited registration is not usually an essential issue but where there is a degree of urgency associated with the registration then you or your lawyers must contact the land registry and explain the circumstances.
I've recently found out that there is a flying freehold element on a house I have offered on two weeks back in what was supposed to be a simple, no chain conveyancing. Kegworth is the location of the property. Can you offer any assistance?
Flying freeholds in Kegworth are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Kegworth you would need to get your solicitor to go through the deeds diligently. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Kegworth 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 residence.
Back In 2008, I bought a leasehold flat in Kegworth. Conveyancing and Norwich and Peterborough Building Society mortgage went though with no issue. A letter has just been received from someone claiming to own the reversionary interest in the property. It included a ground rent demand for rent dating back to 1996. The conveyancing practitioner in Kegworth who previously acted has long since retired. Do I pay?
First contact HMLR to be sure that the individual claiming to own the freehold is in fact the new freeholder. You do not need to incur the fees of a Kegworth conveyancing firm to do this as it can be done on-line for a few pound. Rest assured that in any event, even if this is the rightful freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
Kegworth Leasehold Conveyancing - Sample of Queries Prior to buying
The answer will be helpful as a) areas could cause problems in the building as the common areas may start to deteriorate where maintenance remain unpaid b) if the tenants have an issue with the managing agents you will want to have all the details What is the name of the managing agents? What is the annual service fee and ground rent?
Should I be worried if there is an issue with one of the searches for my conveyancing in Kegworth?
Normally, most adverse entries that arise in Kegworth conveyancing search responses can be handled in advance of completion or indemnity insurance could possibly be taken. You need to note that even though you are purchasing the property and might be willing to live with the search results, your building society or bank may not, and when all said and done they have the final say.