My financial adviser has requested my Morpeth law firm’s panel reference for the Nat West conveyancing panel. What is the best way to discover this. I have tried my local Morpeth branch but they cant find it on their system.
You are best placed to get this information from your Morpeth property lawyer . They retain a central record lender panel numbers.
We expect to receive a AIP from Co-operative this week so we can work out what to offer on a property we like as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc). Do Co-operative recommend any Morpeth solicitors on the Co-operative conveyancing panel, or is it better to find our own lawyer?
You will need to appoint Morpeth solicitors independently although you'll need to choose one on the Co-operative conveyancing panel. The solicitor represents both you and Co-operative through the process.
I have today made my last payment due on my mortgage with TSB. I assume I don't need a Morpeth solicitor on the TSB panel to discharge the mortgage at the Land Registry. Am I right?
If you have finished paying off your TSB 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 TSB mortgage from the register. TSB, 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 TSB has sent the Land Registry the discharge electronically, and
- TSB has instructed the Land Registry to do so
I have a mortgage with Clydesdale for my property in Morpeth. Conveyancing was finalised some time ago. In the event that I decide 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 Clydesdale?
Your original mortgage agreement with Clydesdale will provide that you need their approval before letting out your property as this is likely to be a breach of Clydesdale’s mortgage conditions. It may be that Clydesdale 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 Clydesdale directly. You need not do this via a Clydesdale conveyancing panel solicitor.
The deeds to our house are lost. The solicitors who handled the conveyancing in Morpeth 4 years ago have long since closed. Will I be able to sell the house?
In today’s world there are copies made of almost everything, and your solicitor should know precisely where to locate all the suitable paperwork so you can buy or dispose of your property without any difficulty. Where copies can’t be located, your solicitor may be able to arrange cover in the form of insurance or indemnities against future claims on your premises.
Over the last few months I have been searching for a flat up to £195,000 and identified one close by in Morpeth I like with a park and railway links in the vicinity, however it's only got 61 years on the lease. There is not much else in Morpeth in this price bracket, so just wondered if I would be making a mistake acquiring a short lease?
If you require a home loan the shortness of the lease will likely be problematic. Reduce the offer by the expected lease extension will cost if not already taken into account. If the existing proprietor has owned the premises for a minimum of twenty four months you can request that they start the process of the extension and then assign it to you. An additional ninety years can be extended on to the current lease term with a zero ground rent applied. You should consult your conveyancing lawyer about this matter.
Should I appoint a Morpeth conveyancing practitioner who is local to the property I am hoping to buy? An old friend can carry out the conveyancing however they are based 400miles drive away.
The primary upside of using a local Morpeth conveyancing firm is that you can pop in to sign paperwork, present your ID and apply pressure on them where appropriate. They will also have local knowledge which is a plus. However it's more important to get someone that will do a good and efficient job. If if people you trust instructed your friend and in the main were content that must trump using an unknown Morpeth conveyancing solicitor just because they are local.
I would like to let out my leasehold flat in Morpeth. Conveyancing solicitor who did the purchase is retired - so can't ask her. Is permission from the freeholder required?
A small minority of properties in Morpeth do contain a provision to say that subletting is only allowed with permission. The landlord is not entitled to unreasonably withhold but, in such cases, they would need to review references. Experience suggests that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting permission.
I invested in buying a 1 bedroom flat in Morpeth, conveyancing was carried out half a dozen 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? Similar properties in Morpeth with over 90 years remaining are worth £260,000. The average or mid-range amount of ground rent is £45 invoiced annually. The lease runs out on 21st October 2098
With 74 years left to run the likely cost is going to range between £8,600 and £9,800 plus costs.
The figure that we have given is a general guide to costs for renewing a lease, but we are not able to provide a more accurate figure without more comprehensive due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There may be other concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information without first getting professional advice.