I am considering applying for a TSB mortgage for purchase of a newly converted (under development) in Stilton with 65 per cent loan to value. Is it compulsory to choose a solicitor on the conveyancing panel for TSB ?
There is nothing to stop you using your solicitor, but TSB will insist on their interests being represented by a firm on their conveyancing panel. There is greater potential for delays and confusion with an additional lawyer added to the mix, and it will undoubtedly be more expensive too.
If you had a top tip for choosing a conveyancing solicitor in Stilton what would it be?
It would be unwise to be tempted by the lowest Stilton conveyancing fees. You really do get what you’re paying for when it comes to property lawyers. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you go into the conveyancing with your eyes wide open.
We expect to receive a AIP from Barclays this week so we know how much we could potentially offer as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc). Do Barclays recommend any Stilton solicitors on the Barclays conveyancing panel, or is it better to find our own lawyer?
You will need to appoint Stilton solicitors independently although you'll need to choose one on the Barclays conveyancing panel. The solicitor represents both you and Barclays through the process.
I have a mortgage with Kent Reliance for my property in Stilton. Conveyancing was finalised months ago. Should I wish 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 Kent Reliance?
You must advise Kent Reliance before letting out your property as this is likely to be a breach of Kent Reliance’s mortgage conditions. It may be that Kent Reliance 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 Kent Reliance directly. You need not do this via a Kent Reliance conveyancing panel firm.
What will a local search inform me concerning the house we're purchasing in Stilton?
Stilton conveyancing often commences with the ordering local authority searches directly from your local Authority or via a personal search company for example Searches UK The local search is essential in every Stilton conveyancing purchase; that is if you don’t want any unpleasant once you have moved into your property. The search should reveal information on, amongst other things, details on planning applications applicable to the property (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of thirteen subject headings.
I own a renovated Edwardian property in Stilton. Conveyancing lawyer acted for me and Britannia. I did a free Land Registry search last week and I saw a couple of entries: one for freehold, another for leasehold with the exact same property. I thought I was buying a freehold how can I check?
You need to read the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Stilton and other areas of the country and poses no real issues for owners other than when they sell they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also enquire as to the situation with the conveyancing lawyer who conducted the purchase.
I have recently realised that I have Fifty years remaining on my flat in Stilton. I now want to extend my lease but my landlord is can not be found. What are my options?
If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be extended by the Court. You will be obliged to prove that you or your lawyers have done all that could be expected to locate the freeholder. In some cases an enquiry agent should be useful to carry out a search and to produce an expert document to be accepted by the court as evidence that the landlord can not be located. It is advisable to get professional help from a property lawyer both on devolving into the landlord’s absence and the vesting order request to the County Court covering Stilton.
I acquired a garden flat in Stilton, conveyancing formalities finalised in 2000. Can you work out an approximate cost of a lease extension? Corresponding properties in Stilton with over 90 years remaining are worth £216,000. The ground rent is £50 yearly. The lease terminates on 21st October 2094
With just 69 years unexpired we estimate the price of your lease extension to be between £9,500 and £11,000 plus plus your own and the landlord's "reasonable" professional fees.
The figure that we have given is a general guide to costs for renewing a lease, but we are not able to advice on the actual costs in the absence of comprehensive investigations. You should not use the figures in tribunal or court proceedings. There are no doubt other concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information without first getting professional advice.
When it comes to my conveyancing in Stilton 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 Stilton conveyancers do - that will incur VAT(4) Bank transfer fee - Yes it is for the conveyancing practitioner's time in submitting the funds this way.