I am acquiring a ground floor flat in Murton. My lawyer has never been on on the lender conveyancing panel. Am I still permitted to continue with my Murton conveyancing solicitor even though they are not on the mortgage company panel?
You will need to use a property lawyer to deal with the formalities when you need a loan to purchase your property. They will carry out all the essential legal checks on the property, ensuring that you will be properly registered as the owner and ensure that all the necessary mortgage paperwork is in order. One could instruct a Murton lawyer of your choice. However, where the property lawyer appointed is not on the lender conveyancing panel supplemental charges will arise as separate legal representation will be required by them. Bank panel applications may be submitted, so provided your lawyer has not historically sought membership they can do so.
My fiance and I changing mortgage lender for our apartment in Murton with Co-operative. We have a son 19 who lives at home. Our solicitor requested us to identify anyone over the age of 17 other than ourselves who lives in the flat. Our lawyer has now e-mailed a document for our son to sign, giving up any rights in the event that the flat is repossessed. I have a couple of concerns (1) Is this form unique to the Co-operative conveyancing panel as he never had to sign this form when we bought 3 years ago (2) Does our son by signing this giving up his rights to inherit the property?
On the face of it your lawyer has done nothing wrong as it is established procedure for any occupier who is aged 17 or over to sign the necessary Consent Form, which is purely to state that any rights he has in the property are postponed and secondary to Co-operative. This is solely used to protect Co-operative if the property were re-possessed so that in such circumstances, your son would be legally obliged to leave. It does not impact your son’s right to inherit the apartment. Please note that if your son were to inherit and the mortgage in favour of Co-operative had not been discharged, he would be liable to take over the loan or pay it off, but other than that, there is nothing stopping him from keeping the property in accordance with your will or the rules of intestacy.
It is a dozen years since I purchased my house in Murton. Conveyancing lawyers have recently been instructed on the sale but I am unable to locate the title documents. Will this jeopardise the sale?
Don’t worry too much. Firstly the deeds may be with your lender or they may be in the possession of the conveyancers who oversaw your purchase. Secondly in all probability the title will be registered at the land registry and you will be able to prove you own the property by your conveyancing lawyers procuring current official copies of the land registers. The vast majority of conveyancing in Murton relates to registered property but in the unlikely event that your home is not registered it adds to the complexity but is resolvable.
Despite weeks of looking the Title Certificate and documents to my property can not be found. The solicitors who dealt with the conveyancing in Murton 5 years ago no longer exist. What are my next steps?
You no longer need to hold title original deeds to evidence that you are the registered proprietor of land or property, given that the Land Registry hold details of all registered land or property electronically.
I'm purchasing my first flat in Murton with the aid of help to buy. The developers refused to budge the amount so I negotiated £7000 of additionals instead. The house builders rep suggested that I not reveal to my lawyer about the extras as it may jeopardize my mortgage 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.
Estate agents have just been given the go-ahead to market my 2 bed flat in Murton. Conveyancing has not commenced, however I have just received a half-yearly maintenance charge invoice – Do I pay up?
Your conveyancing lawyer is likely to suggest that you should clear the service charge as usual given that all ground rent and service charges will 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 managing agents will not acknowledge the buyer unless 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. This will smooth the conveyancing process.
I bought a 1 bedroom flat in Murton, conveyancing formalities finalised September 2008. Can you shed any light on how much the price could be for a 90 year extension to my lease? Corresponding flats in Murton with a long lease are worth £165,000. The average or mid-range amount of ground rent is £50 invoiced annually. The lease comes to an end on 21st October 2098
With 77 years left to run we estimate the premium for your lease extension to span between £7,600 and £8,800 plus costs.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of comprehensive investigations. You should not use the figures in tribunal or court proceedings. There may be additional issues that need to be considered and clearly you should be as accurate as possible in your negotiations. You should not move forward placing reliance on this information without first getting professional advice.