I have today made my last payment due on my mortgage with Nottingham. I assume I don't need a Old Windsor conveyancer on the Nottingham panel to remove the mortgage at the Land Registry. Please confirm.
If you have finished paying off your Nottingham 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 Nottingham mortgage from the register. Nottingham, 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 Nottingham has sent the Land Registry the discharge electronically, and
- Nottingham has instructed the Land Registry to do so
The formalities of my purchase has taken place for my property in Old Windsor. Conveyancing was satisfactory but I feel I should register my dissatisfaction about the lender. Who do I contact should I wish to lodge a complaint?
All banks and building societies have complaints procedures. Your first port of call should be one of the lender’s branches or the Customer Services Team at head office. Ordinarily complaints to a lender are sorted out very quickly. However if you are not satisfied that the matter is not resolved you can write to Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London E14 9SR who will take matters further.
I can not work out if my lender obliges me to make sure the lease term for the flat is extended prior to the completion date. I have telephoned my Old Windsor building society branch on numerous occasions and was advised it wasn't an issue and they will lend. My Old Windsor conveyancing solicitor - who is on the mortgage company conveyancing panel- called to say that they refuse to lend based on their published requirements. Who do I believe?
Your conveyancer must comply with the Council of Mortgage Lenders’ Handbook Part 2 provisions for your bank. Unless your lawyer obtains specific confirmation in writing that the mortgage company will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the lender to contact your lawyer in writing confirming that they will accept the number of years remaining.
About to purchase a new build flat in Old Windsor. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build legal work.
Here is a sample of a few leasehold new build enquiries that you should expect your new-build leasehold conveyancing in Old Windsor
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Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. Please supply evidence that the form of Lease proposed has been approved by the Land Registry. Please supply a car parking plan. 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.
I opted to have a survey done on a property in Old Windsor in advance of instructing lawyers. I have been told that there is a flying freehold aspect to the property. Our surveyor has said that some banks may refuse to give a loan on such a house.
It depends who your proposed lender is. Bank of Scotland has different requirements for example to Halifax. If you call us we can check with the appropriate bank. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Old Windsor. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Old Windsor to see if the conveyancing will be more expensive.
My husband and I are new on the property ladder - had an offer accepted, yet the estate agent informed us that the vendor will only proceed if we appoint the agent's chosen solicitors as they want an ‘expedited deal’. Our preferred option is to instruct a local solicitor accustomed to conveyancing in Old Windsor
We suspect that the owner is unaware of this request. Should the seller want ‘a quick sale', turning down a serious buyer is is going to put the whole deal at risk. Bypass the agents and go straight to the owners and make the point that (a)you are serious buyers (b)you are ready to go, with mortgage lined up © you are chain free (d) you intend to proceed fast (e)however you intend to instruct your own,trusted Old Windsor conveyancing firm - as opposed tothe ones that will earn the negotiator at the agency a referral fee or meet his conveyancing thresholds pre-set by HQ.
I've recently bought a leasehold house in Old Windsor. Do I have any liability for service charges relating to a period prior to my ownership?
Where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
Old Windsor Leasehold Conveyancing - Sample of Queries before buying
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How is the lease structured? You will want to discover as much as possible regarding the company managing the building as they will affect your use and enjoyment of the property. As the owner of a leasehold property you are often at the mercy of the managing agents both financially and when it comes to daily matters such as the upkeep of the common parts. Enquire of other tenants what they think of their management. On a final note, investigate as to the dates that you are obliged pay the service charge to the appropriate party and specifically how they are spending the funds. How much is the ground rent and service charge?
Do I have to pop into the offices of the lender conveyancing panel solicitor to execute the mortgage deed? If so, I will choose one who does conveyancing in Old Windsor so that I can pop in to their offices if necessary.
As opposed to twenty years ago, most lenders no longer require their conveyancing panel solicitor to witness the borrowers signature. You will still be obliged to provide ID Documents and there are still distinct advantages to using a local solicitor, in your case a conveyancing solicitor in Old Windsor.