It is is a decade since I acquired my house in Oundle. Conveyancing solicitors have recently been retained on the sale but I can't locate my title documents. Will this cause complications?
Don’t worry too much. First there is a possibility that the deeds will be with your lender or they could be in the possession of the conveyancers who oversaw your purchase. Secondly in most cases the property will be recorded at the land registry and you will be able to prove you own the property by your conveyancing solicitors procuring current official copies of the land registers. Nearly all conveyancing in Oundle involves registered property but in the unlikely event that your home is unregistered it is more tricky but is not insurmountable.
I'm the sole recipient of my late father’s will with all property in now in my sole name, including the my former home in Oundle. Conveyancing formalities meant that the Land Registry date was in September. I want to move. I understand that there is a Mortgage Lenders six month 'rule', meaning my property ownership could be regarded the same way as if I'd bought the property in September. Do I have to wait 6 months to sell?
The Council of Mortgage Lenders’ handbook obliges solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you may be impacted by that. many lenders would take a practical view as this clause primarily exists to pick up on subsales or the wholesaling and assigning of properties.
We expect to receive a DIP from Virgin Money this week so we can work out what to offer on a property we like as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc). Do Virgin Money recommend any Oundle solicitors on the Virgin Money conveyancing panel, or is it better to find our own lawyer?
You will need to appoint Oundle solicitors independently although you'll need to choose one on the Virgin Money conveyancing panel. The solicitor represents both you and Virgin Money through the process.
I recently had an offer agreed on a house in Oundle. My mortgage broker recommended their conveyancers. I paid an upfront payment of £175. A few days later, the property lawyer contacted me to say that they were not on the Santander conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Santander panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
I have todaybecome aware that Action Conveyancing have been shut down. They conducted my conveyancing in Oundle for a purchase of a leasehold apartment 12 months ago. How can I check that the property is registered correctly in the name of the previous owner?
The quickest way to see if the premises is in your name, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Oundle conveyancing specialists.
Due to the advice of my in-laws I had a survey completed on a property in Oundle in advance of retaining solicitors. I have been informed that there is a flying freehold element to the property. The surveyor has said that some banks tend not give a mortgage on this type of home.
It varies from the lender to lender. Bank of Scotland has different instructions for example to Nationwide. Should you wish to call us we can look into this further via the appropriate mortgage company. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Oundle. Conveyancing may be slightly more expensive based on your lender's requirements.
What makes your site different to other online quote calculators when it comes to conveyancing in Oundle?
At this site get a conveyancing costs illustration from a Solicitor or Licensed Conveyancer that has a full understanding of the issues for your conveyancing in Oundle. As opposed to estate agents and brokerage sites we are not in the business of charging firms a fee if you appoint them for your conveyancing in Oundle
What makes a Oundle lease problematic?
Leasehold conveyancing in Oundle is not unique. All leases are individual and drafting errors can result in certain clauses are not included. The following missing provisions could result in a defective lease:
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A provision to repair to or maintain elements of the premises
A defective lease will likely cause issues when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Lloyds TSB Bank, Virgin Money, and Alliance & Leicester all have express conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to provide security, forcing the buyer to withdraw.
I bought a basement flat in Oundle, conveyancing formalities finalised January 1996. How much will my lease extension cost? Equivalent flats in Oundle with over 90 years remaining are worth £175,000. The average or mid-range amount of ground rent is £65 yearly. The lease ceases on 21st October 2083
With 58 years remaining on your lease the likely cost is going to range between £23,800 and £27,400 plus professional fees.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we are not able to advice on the actual costs in the absence of detailed due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There may be additional issues that need to be considered and clearly you should be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information without first seeking the advice of a professional.