IfI were to purchase a straightforward homein Mortimer for cash and dispense with a survey and no conveyancing searches how much could I expect to to save on my conveyancing in Mortimer?
The only saving you would achieve is the Mortimer conveyancing searches. The property lawyer is obliged to do the vast majority of work - money laundering, liaising with your vendors conveyancer, stamp duty submission, register the property etc. A marginal saving might be made by not needing to register a mortgage but it won't be a lot.
Do I have to attend the offices of the solicitor to execute the mortgage deed? If so, I will appoint a lawyer who conducts conveyancing in Mortimer so that I can attend their offices if necessary.
Whereas this was necessary 12 years ago, the vast majority mortgage companies no longer require their conveyancing panel solicitor to witness the borrowers signature. You will still be obliged to supply ID documents and there are still manifest advantages to choosing a local solicitor, in your situation a conveyancing solicitor in Mortimer.
My wife and I buying a 4 bedroom semi-detached house in Mortimer. Our aim is to an extension at the rear at the property.Will legal conveyancing on the property involve enquiries to ascertain if these alterations are allowed?
Your property lawyer should review the registered title as conveyancing in Mortimer can occasionally reveal restrictions in the title documents which restrict categories of works or need the permission of a 3rd party. Some extensions call for local authority planning permissions and approval under the building regulations. Some areas are designated conservation areas and special planning restrictions apply which often prevent or affect extensions. You should check these issues with a surveyor before you commit yourself to a purchase.
is it true that all Mortimer solicitors on the Leeds Building Society conveyancing panel are regulated by the Solicitors Regulatory Authority?
As solicitors, in order to be on the Leeds Building Society conveyancing panel they would need to be governed by the Solicitors Regulatory Authority. The majority of banks do list licenced conveyancers on their panel and in such a situation the organisation would be governed by the CLC.
I have today made my last payment due on my mortgage with RBS. I assume I don't need a Mortimer solicitor on the RBS panel to remove the mortgage at the Land Registry. Am I right?
If you have finished paying off your RBS 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 RBS mortgage from the register. RBS, 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 RBS has sent the Land Registry the discharge electronically, and
- RBS has instructed the Land Registry to do so
3 months have elapsed since my purchase conveyancing in Mortimer completed. I have checked the Land Registry website which shows that I paid £150,000 when infact I paid £160,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the premises from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
How can the Landlord & Tenant Act 1954 impact my business property in Mortimer and how can you help?
The 1954 Act gives security of tenure to business leaseholders, granting the right to make a request to court for a continuation of occupancy at the end of an expired lease. There are certain specified grounds that a landlord can refuse a lease renewal and the rules are complex. We are happy to direct you to commercial conveyancing solicitors who use the act to your advantage and help with commercial conveyancing in Mortimer
I am looking at a couple of flats in Mortimer which have about 50 years left on the leases. should I be concerned?
There are plenty of short leases in Mortimer. The lease is a legal document that entitles you to use the premises for a prescribed time frame. As the lease shortens the marketability of the lease deteriorates and results in it becoming more expensive to extend the lease. For this reason it is often a good idea to extend the lease term. Sometimes it is difficulties arise selling premises with a short lease because mortgage lenders may be unwilling to lend money on properties of this type. Lease extension can be a difficult process. We recommend you seek professional help from a conveyancer and surveyor with experience in this arena.
I own a 1st floor flat in Mortimer, conveyancing having been completed half a dozen years ago. Can you please calculate a probable premium for a statutory lease extension? Comparable flats in Mortimer with over 90 years remaining are worth £260,000. The average or mid-range amount of ground rent is £45 invoiced every year. The lease runs out on 21st October 2100
You have 75 years left to run we estimate the premium for your lease extension to be between £8,600 and £9,800 plus professional fees.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs without more comprehensive investigations. You should not use the figures in tribunal or court proceedings. There may be other concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information without first getting professional advice.