It is a dozen years since I acquired my property in Thatcham. Conveyancing lawyers have now been retained on the sale but I am unable to locate the title documents. Is this a problem?
You need not be too concerned. First the deeds may be retained by the lender or they may stored with the conveyancers who oversaw the purchase. Secondly in most cases the property will be registered at the land registry and you will be able to prove you are the registered owner by your conveyancing solicitors obtaining current official copies of the land registers. Almost all conveyancing in Thatcham involves registered property but in the rare situation where your property is unregistered it is more of a problem but is not insurmountable.
I happen to be the single recipient of my late grandmother’s will and I have everything in my name alone, including the house in Thatcham. Conveyancing formalities meant that the Land Registry date was in November. I plan to dispose of the property. I do know about the CML 6 month 'rule', meaning my property ownership could be treated the same way as though I had purchased the house in November. Do I have to wait half a year to sell?
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 could be affected by that. Some banks would take a practical view as this clause primarily exists to capture the purchase and immediately sell or the quick reselling of properties.
We expect to receive a AIP from Co-operative this week so we can work out what to offer on a property we like as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc). Do Co-operative recommend any Thatcham solicitors on the Co-operative conveyancing panel, or is it better to go independently?
You will need to appoint Thatcham solicitors independently although you'll need to choose one on the Co-operative conveyancing panel. The solicitor represents both you and Co-operative through the process.
After what feels like an age I have had an offer on an apartment in Thatcham agreed to, but there is a chain. The vendors have offered on a property, however it’s not been accepted yet, and are looking at other apartments in the pipeline. I have selected a nearby conveyancing solicitor in Thatcham. What should be my next step? When do I get the mortgage application with Co-operative started?
It is normal to have apprehensions where there is a chain as you are unlikely to want to be too out of pocket too early (home loan application is in the region of £1k, then survey, Thatcham conveyancing search fees, etc). The first thing to do is ensure that your conveyancing practitioner is on the Co-operative approved list. As to the subsequent phase this very much dictated by the specifics of your case, desire for this property and on the state of the market. In a buoyant market some buyers would apply for the mortgage with Co-operative and arrange for the valuation and only if it was satisfactory would they ask their conveyancer to move forward with the conveyancing in Thatcham.
The deeds to my property are lost. The conveyancers who conducted the conveyancing in Thatcham 5 years ago have long since closed. What are my options?
Gone are the days when you need to hold title official documentation to prove you are the registered proprietor of land or property, given that the Land Registry have everything they need in a digital format.
Yesterday I discovered that there is a flying freehold element on a property I have offered on last month in what was supposed to be a straight forward, chain free conveyancing. Thatcham is where the house is located. Is there any advice you can give?
Flying freeholds in Thatcham are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Thatcham you would need to get your solicitor to go through the deeds thoroughly. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Thatcham may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
I need to instruct a conveyancing practitioner in Thatcham for my house move. Is it possible to check a firm’s complaints history with the legal regulator?
Members of the public may read presented Solicitor Regulator Association (SRA) determinations stemming from inquisitions from 2008 onwards. Visit Check a solicitor's record. For information about the period before 1 January 2008, or to check a solicitors record, phone 0870 606 2555, 08.00 - 18.00 any week day save for Tuesday when lines open at 9.30am. For callers outside the UK, dial +44 (0)121 329 6800. The regulator sometimes monitor call for training reasons.
I've found a house that appears to be perfect, at a reasonable figure which is making it more attractive. I have since discovered that it's a leasehold as opposed to freehold. I am assuming that there are particular concerns buying a leasehold house in Thatcham. Conveyancing solicitors have are soon to be appointed. Will my lawyers set out the risks of buying a leasehold house in Thatcham ?
The majority of houses in Thatcham are freehold and not leasehold. This is one of the situations where having a local conveyancer who is familiar with the area who can assist with the conveyancing process. We note that you are purchasing in Thatcham in which case you should be shopping around for a Thatcham conveyancing practitioner and check that they are used to advising on leasehold houses. First you will need to check the unexpired lease term. As a tenant you will not be at liberty to do whatever you want with the house. The lease comes with conditions such as requiring the landlord’sconsent to conduct alterations. You may also be required to pay a maintenance charge towards the upkeep of the communal areas where the property is located on an estate. Your lawyer should report to you on the legal implications.
I bought a 1 bedroom flat in Thatcham, conveyancing formalities finalised May 2004. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Comparable properties in Thatcham with a long lease are worth £170,000. The ground rent is £50 levied per year. The lease expires on 21st October 2103
With just 78 years remaining on your lease the likely cost is going to range between £7,600 and £8,800 as well as professional fees.
The figure above a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more comprehensive due diligence. Do not use this information in tribunal or court proceedings. There are no doubt other issues that need to be considered and you obviously want to 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.