I have a semi-detached Georgian property in Mountsorrel. Conveyancing solicitor acted for me and Barnsley Building Society. I happened to do a free search for it on the Land Registry database and I saw a couple of entries: the first freehold, the second leasehold under the matching address. If a house is not a freehold shouldn't I have been informed?
You should review 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 Mountsorrel and other locations in the country and poses no real issues for owners other than when they sell they have to account for both freehold and leasehold interests when dealing with lenders. You can also check the position with the conveyancing practitioner who conducted the work.
I'm buying a new build house in Mountsorrel with a mortgage from Platform Home Loans Ltd. The sellers refused to move on the price so I negotiated 6k of extras instead. The estate agent told me not reveal to my conveyancer about this extras as it will jeopardize my loan with the lender. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
Yesterday I discovered that there is a flying freehold issue on a property I put an offer in last month in what should have been a quick, chain free conveyancing. Mountsorrel is where the house is located. Can you shed any light on this issue?
Flying freeholds in Mountsorrel are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Mountsorrel you must be sure that your lawyer goes 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 Mountsorrel may decide 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 property.
My husband and I are first time buyers - agreed a price, yet the property agent has warned us that the vendor will only issue a contract if we appoint their preferred lawyers as they are insisting on a ‘quick sale’. Our preferred option is to instruct a family solicitor accustomed to conveyancing in Mountsorrel
We suspect that the owner is not behind this requirement. If they want ‘a quick sale', alienating a motivated purchaser is going to damage their objectives. Avoid the agents and go straight to the owners and make sure they comprehend that (a)you are genuine buyers (b)you are excited to move forward, with finances arranged © you are unencumbered (d) you intend to proceed fast (e)but you intend to use your preferred Mountsorrel conveyancing solicitors - not the ones that will give their negotiator at the agency a referral fee or hit his conveyancing targets pre-set by head office.
I’m about to sell my basement flat in Mountsorrel. Conveyancing lawyers have not yet been instructed, however I have recently received a quarterly service charge invoice – what should I do?
The sensible thing to do is discharge the maintenance contribution as you normally would because all rents and maintenance charges should be apportioned as part of the financial calculations for completion monies, so you should recover the relevant percentage by the purchaser for the period running from after the completion date to the subsequent invoice date. Most management companies will not acknowledge the buyer until the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.
I purchased a 1 bedroom flat in Mountsorrel, conveyancing was carried out 7 years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Equivalent properties in Mountsorrel with an extended lease are worth £186,000. The average or mid-range amount of ground rent is £55 yearly. The lease ceases on 21st October 2078
With only 52 years left to run we estimate the price of your lease extension to range between £29,500 and £34,000 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 due diligence. Do not use this information in a Notice of Claim or as an informal offer. There may be additional issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. Neither should you take any other action based on this information before getting professional advice.
I was told by my bank that their panel conveyancers work on no completion no charge basis for conveyancing in Mountsorrel. I had a purchase abort and now the lawyers want search fees! They are claiming that the fees are independent!
By offering "no completion no fee" Mountsorrel conveyancing firms are writing off their charges for any work carried out. We must stress this does not constitute an insurance scheme. you will still be expected to pay for any disbursements that your conveyancing practitioner has expended for you such as Mountsorrel local authority checks