Why is leasehold purchase conveyancing in Ravenshead costs more?
In summary, leasehold conveyancing in Ravenshead and Nottinghamshire usually involve more due diligence compared to freehold conveyancing. This includes lease investigation, communicating with the landlord about the service of appropriate notices, obtaining current service charge and management information, procuring the freeholder’s consents and reviewing management accounts. The obligations on both the landlord and the tenant in the lease need to be studied by the buyer’s conveyancing team and read from beginning to end – no matter how many different proprietor have owned the lease since it was first granted.
We are selling our house in Ravenshead. Will the conveyancer have to be on the TSB conveyancing panel in order to deal with redeeming my mortgage?
Ordinarily, even if your lawyer is not on the TSB conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their conditions fairly frequently currently.
Is it the case that all Ravenshead conveyancing solicitors on the Aldermore conveyancing panel are governed by the SRA?
As a firm of solicitors, in order to be on the Aldermore conveyancing panel they would need to be governed by the SRA. Some banks do allow licenced conveyancers on their panel in which case such firms would be overseen by the Council of Licensed Conveyancers.
I have paid off my mortgage with HSBC. I assume I don't need a Ravenshead property lawyer on the HSBC panel to discharge the mortgage at the Land Registry. Please confirm.
If you have finished paying off your HSBC 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 HSBC mortgage from the register. HSBC, 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 HSBC has sent the Land Registry the discharge electronically, and
- HSBC has instructed the Land Registry to do so
I currently have a mortgage with Coventry BS for my property in Ravenshead. Conveyancing was finalised a year ago. If I am intending to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Coventry BS?
You must advise Coventry BS prior to letting out your property as this is likely to be a breach of Coventry BS’s mortgage conditions. In many cases banks or building societies will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Coventry BS directly. You need not do this via a Coventry BS conveyancing panel solicitor.
How does conveyancing in Ravenshead differ for newly converted properties?
Most buyers of new build residence in Ravenshead contact us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the premises is finished. This is because house builders in Ravenshead typically purchase the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Ravenshead or who has acted in the same development.
How does the Landlord & Tenant Act 1954 affect my commercial property in Ravenshead and how can you help?
The particular law that you refer to gives protection to business tenants, granting the a statutory right to apply to court for a new tenancy and remain in occupation at the end of an expired lease. There are limited grounds where a landlord can refuse a lease renewal and the rules are involved. Fees are different for commercial conveyancing. Ravenshead is one of the hundreds of locations in which the firms we work with are located
My husband and I are novice buyers - had an offer accepted, yet the estate agent informed us that the owners will only go ahead if we appoint the agent's recommended lawyers as they need a ‘quick sale’. Our preferred option is to instruct a family conveyancer who is accustomed to conveyancing in Ravenshead
We suspect that the owner is not behind this requirement. If they desire ‘a quick sale', alienating a genuine buyer is is going to put the whole deal at risk. Bypass the agents and go straight to the sellers and make sure they understand (a)you are motivated purchasers (b)you are ready to progress, with mortgage lined up © you are unencumbered (d) you intend to proceed fast (e)but you intend to use your preferred Ravenshead conveyancing solicitors - not the ones that will earn the negotiator at the agency a introducer fee or hit his conveyancing figures pre-set by corporate headquarters.