My wife and I are purchasing a 3 bedroom flat in Sheringham with a mortgage. We wish to retain our Sheringham solicitor, however the bank says she’s not on their "panel". It seems we have little choice but to select one of the mortgage company panel conveyancing practices or continue with our Sheringham property lawyer as well as pay for one of their panel ones to represent them. We feel that this is unjust; can we not insist that the mortgage company use our Sheringham conveyancer ?
No, not really. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the lender’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your Sheringham conveyancing solicitor to apply to be on the conveyancing panel.
My home in Sheringham is up for sale and I have accepted an offer. Does my property lawyer need to be required to be on the Virgin Money conveyancing panel in order to deal with paying off my mortgage?
Ordinarily, even if your lawyer is not on the Virgin Money 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 requirements fairly frequently at the moment.
I have todaybeen informed that Stirling Law have closed. They carried out my conveyancing in Sheringham for a purchase of a leasehold apartment 12 months ago. How can I establish that the property is not still registered in the name of the former proprietor?
The easiest method to check 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 Sheringham conveyancing specialists.
I am buying a new build apartment in Sheringham. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.
Here are examples of a selection of leasehold new build questions that you should expect your new-build leasehold conveyancing in Sheringham
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Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? Please confirm the Lease plans are architect prepared.
Is it possible to transfer to a new solicitor as I have to find one who is on the Britannia conveyancing list. I had appointed a local conveyancing solicitor in Sheringham round the corner but the firm is not accepted by Britannia
We will our best to assist in finding you a conveyancing solicitor in Sheringham on the Britannia panel. Please note that the property lawyers that we list do not pay us a referral fee if you instruct them and are registered with the Solicitors Regulation Authority who oversee all conveyancing solicitors in Sheringham. In utilising search facility on this site, you can compare and instruct different solicitors and conveyancers both nationally and in Sheringham.
Having had my offer accepted I require leasehold conveyancing in Sheringham. Before I set the wheels in motion I would like to find out the unexpired term of the lease.
Assuming the lease is registered - and most are in Sheringham - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
I bought a basement flat in Sheringham, conveyancing having been completed in 1999. Can you let me have an estimated range of the fair premium for a lease extension? Corresponding properties in Sheringham with a long lease are worth £201,000. The average or mid-range amount of ground rent is £45 invoiced every year. The lease comes to an end on 21st October 2089
You have 65 years unexpired we estimate the price of your lease extension to be between £13,300 and £15,400 plus costs.
The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of comprehensive due diligence. You should not use the figures in tribunal or court proceedings. There are no doubt additional concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Please do not move forward based on this information without first seeking the advice of a professional.