We see that you have a post code search directory listing solicitors on the Coventry BS conveyancing panel. Do firms pay you a referral fee if I retain them for our own conveyancing in Shanklin?
We are a listing service only for law firms wishing to communicate if they are on the Coventry BS conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Shanklin.
My bid for a property was accepted at auction in Shanklin. Conveyancing is required. What are my next steps?
Now that you have legally committed yourself to purchase you now have to instruct a conveyancing practitioner as a matter of priority as you are facing a fast approaching a fixed date to complete the transaction. All auction property should have an associated legal set of papers. This will likely include evidence of title and search results. Where you are dealing with leasehold premises the conveyancing papers should contain a copy of the lease, management information and a sellers leasehold information form and other conveyancing paperwork specific to leasehold premises. You must pass this on to the lawyer working for you as soon as possible. You also need to ensure that you have funds organised to complete on the on the contractual date .
I'm the only recipient of my late grandmother’s will with all property in now in my sole name, including the house in Shanklin. Conveyancing formalities meant that the Land Registry date was in August. I now wish to sell up. I do know about the CML six month 'rule', which means that my property ownership could be regarded the same way as though I had purchased the house in August. Will no one buy the property for half a year?
The Council of Mortgage Lenders’ handbook mandates solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you could be affected by that. Some lenders would take a sensible view as this obligation principally exists to identify the purchase and immediately sell or the wholesaling and assigning of property.
I have a mortgage with UBS for my property in Shanklin. Conveyancing has been completed 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 buy-to-let mortgage or inform UBS?
You must advise UBS in advance of letting out your property as this is likely to be a breach of UBS’s mortgage conditions. It may be that UBS 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 UBS directly. You need not do this via a UBS conveyancing panel firm.
I have justfound out that Action Conveyancing have been shut down. They conducted my conveyancing in Shanklin for a purchase of a leasehold apartment 10 months ago. How can I establish that the property is not still registered in the name of the former proprietor?
The easiest way to see if the property 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 Shanklin conveyancing specialists.
Due to the advice of my in-laws I had a survey completed on a house in Shanklin before instructing lawyers. I have been told that there is a flying freehold overhang to the house. My surveyor advised that some mortgage companies may not give a loan on a flying freehold property.
It varies from the lender to lender. Lloyds has different requirements from Halifax. If you e-mail us we can check with the appropriate lender. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Shanklin. Conveyancing will be smoother if you use a solicitor in Shanklin especially if they are familiar with such properties in Shanklin.
What advice can you give us when it comes to appointing a Shanklin conveyancing firm to deal with our lease extension?
If you are instructing a solicitor for your lease extension (regardless if they are a Shanklin conveyancing practice) it is essential that he or she should be familiar with the legislation and specialises in this area of conveyancing. We recommend that you talk with two or three firms including non Shanklin conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. The following questions might be of use:
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If the firm is not ALEP accredited then what is the reason? What are the legal fees for lease extension conveyancing?
I own a studio flat in Shanklin, conveyancing having been completed December 2002. How much will my lease extension cost? Similar flats in Shanklin with an extended lease are worth £179,000. The average or mid-range amount of ground rent is £65 invoiced every year. The lease finishes on 21st October 2082
With only 57 years unexpired we estimate the premium for your lease extension to range between £26,600 and £30,800 as well as plus your own and the landlord's "reasonable" professional fees.
The figure that we have given is a general guide to costs for extending a lease, but we are not able to advice on the actual costs in the absence of comprehensive due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There may be 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 seeking the advice of a professional.
Is there a difference between surveying and conveyancing in Shanklin?
Conveyancing - in Shanklin or anywhere in England and Wales - is the process of legally transferring legal title of property from one person to another. It involves the checking of the title. Whether buying or selling, you should be aware of anything affecting the property such as proposals by government departments, illegal buildings, or outstanding rates. The conveyancer should conduct the appropriate searches and inquiries on the property. Surveying relates to the structure of a property itself. A surveyor will look at a house, flat and any outbuildings you are purchasing and will help you find out about the condition of the building and, if there are problems, give you leverage for reducing the price down or asking the vendor to fix the defects prior to you move in.