Much to our surprise we have been informed by our mortgage adviser that my Ouston the law firm I have appointed is not on the mortgage company Solicitor panel. How can I check?
Your first step should be to call your Ouston lawyer directly. It is reasonable to expect your lawyer to advise you what has happened. Where they are not on the panel they could put your in touch with solicitors on the approved list of lawyers for your bank.
My lender has recommended solicitors on their panel based in Ouston but I would rather instruct a conveyancing lawyer in Ouston or nearer to where I live. Are you able to help?
It is by no means the case that all Ouston conveyancing practices are listed all banks conveyancing panel. Use our search tool to choose a Ouston conveyancing conveyancer on the on the lender panel.
How can we know in advance if a Ouston conveyancing solicitor on the Aldermore panel is any good?
When it comes to conveyancing in Ouston getting recommendations is a good starting point. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one advertising the lowest fees. We would always advocate that you speak with the lawyer conducting your conveyancing.
I have decided to exercise my right to buy my property in Ouston off the council. I have a mortgage offer with Nottingham. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Nottingham, you will need to appoint a solicitor on the Nottingham conveyancing panel.
Having read lots of mortgage guides, I note that it is considered advisable to get your house surveyed prior to buying it. When I asked my local Ouston solicitor - who is on the HSBC conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. is that correct?
HSBC will need an independent valuation of the property. Your lawyer will not arrange this. Usually HSBC will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. You may wish to consider appointing your own Ouston surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
My wife and I have a terraced Georgian house in Ouston. Conveyancing practitioner represented me and Skipton Building Society. I did a free Land Registry search last week and I saw two entries: the first freehold, another for leasehold under the matching property. I thought I was buying a freehold how can I check?
You need to 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 Ouston and other locations in the country and poses no real issues for owners other than when they mortgage they have to account for both freehold and leasehold interests when dealing with buyers. You can also enquire as to the situation with your conveyancing practitioner who conducted the work.
I am employed by a reputable estate agent office in Ouston where we have witnessed a few leasehold sales put at risk due to short leases. I have been given contradictory information from local Ouston conveyancing firms. Can you shed some light as to whether the owner of a flat can commence the lease extension process for the buyer?
Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser can avoid having to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or simultaneously with completion of the disposal of the property.
An alternative approach is to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.
Leasehold Conveyancing in Ouston - A selection of Questions you should consider Prior to buying
-
If a Ouston lease has no more than 80 years it will have adverse implications on the marketability of the apartment. Check with your lender that they are willing to lend given the lease term. A short lease means that you will most likely have to extend the lease at some point and it is worth finding out how much this would cost. For most Oustonlease extensions you would need to own the premises for two years before you are entitled to exercise a lease extension. Please inform me if there are any major works in the near future that will likely add a premium to the service costs? Who manages the block?
When it comes to my conveyancing in Ouston should I be paying VAT on the following: (1) Land reg fee on purchase (2) Pre - completion search fee (3) SDLT E submission on purchase (4) Bank TT fee
(1) Land reg fee on purchase - No (2) Pre - completion search fees -No, (such conveyancing searches are HMLR ones and means £4 and possibly £2 bankruptcy per name on your mortgage) (3) SDLT E submission on your purchase - There is no VAT on Stamp Duty. However if the firm is charging a stamp duty e-submission fee as part of their services - some Ouston conveyancers do - that will incur VAT(4) Bank transfer fee - Yes it is for the solicitor's time in submitting the funds this way.