Can you help? My Sawtry conveyancer is advising me that he has toconduct Sawtry conveyancing searches asthe firm are on the Nat Westconveyancing panel. These Sawtry checks cost a lot of money can this be avoided?
Unfortunately both you and your lawyer have little choice here. Given that you are taking out a loan with a bank your lawyer has to comply with their conditions as set out in their version of the CML Conveyancing Handbook. Your property lawyer would have previously signed the Terms and Conditions of your bank’s conveyancing panel appointment which obliges them to follow the Council of Mortgage Lenders’ Handbook conditions . Even if you were a cash buyer you would be ill advised not to carry out Sawtry conveyancing searches.
Having sold my house in Sawtry last October yet the purchaser is telephoning daily complaining that her conveyancer needs to hear from mine. What are the post completion sale formalities following completion?
Following your house sale your conveyancer should send the transfer documentation and all supplemental paperwork to the buyer’s solicitors. Where appropriate, your conveyancer should also confirm that the mortgage has been redeemed to the buyers conveyancers. There is unlikely to be post completion steps specific conveyancing in Sawtry.
I happen to be the only beneficiary of my late grandmother’s will with all property in now in my sole name, including the house in Sawtry. Conveyancing formalities meant that the Land Registry date was in June. I now wish to sell up. I understand that there is a CML six month 'rule', meaning my proprietorship will be treated the same way as though I had purchased the house in June. Is the property unsalable for six months?
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 affected by that. many lenders would take a sensible view as this clause is primarily there to identify the purchase and immediately sell or the quick reselling of property.
I have paid off my mortgage with Bank of Ireland. I assume I don't need a Sawtry property lawyer on the Bank of Ireland panel to remove the mortgage at the Land Registry. Am I right?
If you have finished paying off your Bank of Ireland 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 Bank of Ireland mortgage from the register. Bank of Ireland, 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 Bank of Ireland has sent the Land Registry the discharge electronically, and
- Bank of Ireland has instructed the Land Registry to do so
The formalities of my remortgage has taken place for my property in Sawtry. Conveyancing was a necessary evil but I feel I should register my dissatisfaction about the lender. Who do I contact should I wish to lodge a complaint?
Most banks and building societies have complaints procedures. Your first point of contact should be one of the lender’s branches or the Customer Care Team at head office. Ordinarily complaints to a lender are resolved effectively and efficiently. 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 with full details of your complaint.
Are there restrictive covenants that are commonly identified as part of conveyancing in Sawtry?
Restrictive covenants can be picked up when reviewing land registry title as part of the legal transfer of property in Sawtry. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
Are there common defects that you see in leases for Sawtry properties?
There is nothing unique about leasehold conveyancing in Sawtry. All leases are drafted differently and drafting errors can sometimes mean that certain clauses are missing. The following missing provisions could result in a defective lease:
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Maintenance charge proportions which don’t add up to the correct percentage
You could encounter a problem when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Lloyds TSB Bank, Coventry Building Society, and Britannia all have express conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is problematic they may refuse to grant the mortgage, obliging the purchaser to pull out.
I purchased a leasehold flat in Sawtry, conveyancing was carried out half a dozen years ago. Can you work out an approximate cost of a lease extension? Corresponding flats in Sawtry with a long lease are worth £265,000. The average or mid-range amount of ground rent is £50 invoiced annually. The lease comes to an end on 21st October 2100
With only 76 years unexpired we estimate the premium for your lease extension to range between £8,600 and £9,800 plus costs.
The figure above a general guide to costs for extending a lease, but we are not able to supply a more accurate figure without more detailed due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information without first getting professional advice.
I have been Googling for Sawtry conveyancing quotes online. Can I be sure that all the Sawtry law firms that are listed on your directory are on the lender conveyancing panel?
The solicitor and licensed conveyancing practices on our directory have advised us that they are on the lender panel and agreed to advise us to take down their listing in the event of removal off of the mortgage company panel. To date we have not been informed by either a bank or a member of the public that the data about a specific Sawtry firm being on the mortgage company conveyancing panel is not accurate.