I am obtaining a offer of a home loan from Lloyds. My intention is to use a Licensed Conveyancer in Lutterworth. Does the Lloyds Solicitor panel allow for Licensed Conveyancers?
The Lloyds conveyancing panel is, like many other lenders, associated to the CML or Building Society Association, open to Licensed Conveyancers regulated by the CLC.
My uncle passed away last year and as sole heir and executor I was left the property in Lutterworth. The house had a small mortgage remaining of approximately £5k. I want to have the title changed into my name whilst I re-mortgage to Virgin Money, pay off the mortgage. Is this allowed?
If you plan to refinance then Virgin Money will insist on your using a conveyancer on the Virgin Money 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 Virgin Money 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 Virgin Money mortgage is registered as a charge at the Land Registry.
Just had an offer accepted on a new build flat in Lutterworth. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build legal work.
Set out below are examples of a few leasehold new build enquiries that you can expect your new-build leasehold conveyancing in Lutterworth
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Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. Please supply a car parking plan.
I decided to have a survey completed on a property in Lutterworth before retaining lawyers. I have been told that there is a flying freehold element to the house. My surveyor has said that some banks tend not issue a loan on a flying freehold home.
It depends who your proposed lender is. Bank of Scotland has different requirements for example to Halifax. Should you wish to call us we can look into this further with the relevant mortgage company. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Lutterworth. Conveyancing may be slightly more expensive based on your lender's requirements.
Having had my offer accepted I require leasehold conveyancing in Lutterworth. Before diving in I require certainty as to the unexpired term of the lease.
Assuming the lease is recorded at the land registry - and 99.9% are in Lutterworth - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
Lutterworth Conveyancing for Leasehold Flats - Sample of Queries before buying
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It would be sensible to find out as much as possible about the company managing the building as they can either make your living at the property much simpler or a lot more difficult. As the owner of a leasehold property you will be at the mercy of the managing agents both financially and when it comes to every day issues such as the tidiness of the common parts. Enquire of prospective neighbours if they are happy with their service. On a final note, find out the dates that you are obliged pay the maintenance charge to the relevant party and specifically what it includes. The prefered form of lease arrangement is a share of the freehold. In this arrangement the lessees enjoy being in charge if their destiny and even though a managing agent is often retained if the building is bigger than a house conversion, the managing agent is directed by the tenants. If a Lutterworth lease has fewer than eighty years it will impact the salability of the flat. It is worth checking with your mortgage company that they are content with the length of the lease. A short lease means that you will almost definitely have to extend the lease sooner rather than later and it is worth finding out what this will be. For most Lutterworthlease extensions you will be required to have owned the residence for two years in order to be legally able to carry out a lease extension.
Is it possible for you to suggest a conveyancing practitioner for conveyancing in Lutterworth (or within close proximity)? This is for lease extension.I had one lined up but just found out that are not on the panel for Nationwide.
LenderPanel.com is restricted to being a directory service for solicitors who want to be listed as being on the approved conveyancing panel for Nationwide in certain areas for instance Lutterworth . We dont recommend any specific property lawyer.