Me and my partner are buying a leasehold flat in Syston. My lawyer is not listed on the mortgage company solicitor panel. Can I still use my Syston conveyancing solicitor even though they are excluded from the mortgage company panel?
You have a number of alternatives open to you here
- Complete the deal with your existing Syston solicitor but your mortgage company will need to instruct a lawyer from their approved panel. The net result is additional cost together with likely frustration.
- Appoint a new conveyancing practitioner to conduct the conveyancing, obviously checking they are on the lender conveyancing panel.
- Convince your solicitor to do everything possible to join the lender’s conveyancing panel
My solicitor has identified a a problem with the lease for the apartment we are purchasing in Syston. The other side have offered title insurance as a solution. We are content with insurance and will pay for it. Our conveyancer says that he must check that the bank is content with this solution. Are we the client or is the lender?
Even though you have a mortgage offer from the mortgage company does not mean to say that the property will meet their requirements for the purposes of a mortgage. Your lawyer has to ensure that the lease has to comply with the UK Finance Lenders’ Handbook specifications. You and the lender are the client. These conveyancing instructions have to be complied with.
is it true that all Syston solicitors on the Co-operative conveyancing panel are overseen by the Solicitors Regulatory Authority?
As solicitors, in order to be on the Co-operative approved list of solicitors they would need to be overseen by the SRA. Some banks do list licenced conveyancers on their panel in which case such practice would be overseen by the CLC.
I have paid off my mortgage with Principality. I assume I don't need a Syston solicitor on the Principality panel to remove the mortgage at the Land Registry. Am I right?
If you have finished paying off your Principality 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 Principality mortgage from the register. Principality, 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 Principality has sent the Land Registry the discharge electronically, and
- Principality has instructed the Land Registry to do so
After shopping around on the internet I have found a Syston property lawyer having made sure that they are on the Kent Reliance conveyancing panel. Does my lawyer arrange the survey of the property?
Kent Reliance will need an independent valuation of the property. Your lawyer will not arrange this. Usually Kent Reliance will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. You may wish to consider appointing your own Syston surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
Various internet forums that I have come across warn that are the primary reason for delay in Syston conveyancing transactions. Is this right?
The Council of Property Search Organisations (CoPSO) released determinations of research by MoveWithUs that conveyancing searches do not feature amongst the most frequent causes of delays during the legal transfer of property. Local searches are not likely to feature in any delay in conveyancing in Syston.
I own a renovated Edwardian property in Syston. Conveyancing lawyer represented me and TSB. I happened to do a free search for it on the Land Registry database and there are a couple of entries: one for freehold, another for leasehold under the matching address. I'd like to know for sure, how can I find out??
You need to assess the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Syston and other locations in the country and poses no real issues for owners other than when they buy they have to account for both freehold and leasehold interests when dealing with lenders. You can also enquire as to the situation with the conveyancing practitioner who conducted the conveyancing.
I have recently realised that I have 68 years left on my lease in Syston. I am keen to extend my lease but my freeholder is can not be found. What are my options?
On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for an order to dispense with the service of the initial notice. This will mean that your lease can be granted an extra 90 years by the magistrate. You will be obliged to demonstrate that you have done all that could be expected to track down the freeholder. For most situations an enquiry agent may be helpful to conduct investigations and to produce a report to be used as evidence that the landlord is indeed missing. It is advisable to get professional help from a conveyancer in relation to devolving into the landlord’s disappearance and the application to the County Court overseeing Syston.
I acquired a garden flat in Syston, conveyancing was carried out half a dozen years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Similar flats in Syston with an extended lease are worth £260,000. The average or mid-range amount of ground rent is £45 yearly. The lease ends on 21st October 2099
You have 74 years unexpired the likely cost is going to be between £8,600 and £9,800 plus professional fees.
The figure above a general guide to costs for extending a lease, but we are not able to supply the actual costs in the absence of comprehensive due diligence. You should not use this information in a Notice of Claim or as an informal offer. There may be additional issues that need to be taken into account and clearly you 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.