It is 10 years ago since I acquired my house in Thetford. Conveyancing lawyers have recently been instructed on the sale but I am unable to locate the deeds. Will this cause complications?
You need not be too concerned. First there is a chance that the deeds will be retained by the lender or they could stored with the lawyers who acted in your purchase. Secondly the chances are that the land will be registered at the land registry and you will be able to prove you own the property by your conveyancing lawyers acquiring current official copies of the land registers. The vast majority of conveyancing in Thetford relates to registered property but in the unlikely event that your property is unregistered it is more of a problem but is resolvable.
My uncle passed away last year and as sole heir and executor I was left the property in Thetford. The house had a relatively small loan left on it of around £8000. I want to transfer the title deeds into my name whilst I re-mortgage to Leeds Building Society, pay off the mortgage. Is this possible?
If you intend to refinance then Leeds Building Society will insist on your using a conveyancer on the Leeds Building Society conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Leeds Building Society conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Leeds Building Society mortgage is registered as a charge at the Land Registry.
I'm purchasing a new build house in Thetford benefiting from help to buy. The sellers refused to budge the price so I negotiated five thousand pounds worth of extras instead. The estate agent told me not disclose to my conveyancer about this deal as it will affect my mortgage with the bank. Is this normal?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
Due to the advice of my in-laws I had a survey completed on a property in Thetford prior to appointing solicitors. I have been informed that there is a flying freehold overhang to the house. Our surveyor advised that some mortgage companies will refuse to grant a mortgage on a flying freehold home.
It varies from the lender to lender. Lloyds has different requirements from Halifax. If you e-mail us we can check with the relevant mortgage company. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Thetford. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Thetford to see if the conveyancing costs will increase in light of this.
Looking forward to complete next month on a garden flat in Thetford. Conveyancing lawyers inform me that they are sending me a report on Monday. Are there areas in the report that I should be focusing on?
Your report on title for your leasehold conveyancing in Thetford should include some of the following:
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Details of the parties to the lease, for example these could be the leaseholder, head lessor, freeholder Rent payments - what is payable and what the invoice dates are, and be on notice if this will change in the future Repair and maintenance of the premises if lease caters for for a reserve fund? Do you need to have carpet in the flat or are you allowed wood flooring?
Leasehold Conveyancing in Thetford - A selection of Questions you should consider before buying
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Where a Thetford lease has fewer than eighty years it will have adverse implications on the marketability of the property. Check with your mortgage company that they are happy with residual term of the lease. Leases with fewer than 80 years remaining means that you will almost definitely have to extend the lease sooner rather than later and you need to have some idea of what this will be. For most Thetfordlease extensions you would be be obliged to have been the owner of the premises for two years in order to be entitled to extend the lease. Best to be warned whether fixing the lift or some other major work is due in the near future that will be shared amongst the leaseholders and may well dramatically impact the level of the maintenance charges or result in a one off payment. You will want to discover as much as you can concerning the managing agents as they can either make living at the property much easier or uncomfortable. Being a leasehold owner you are frequently in the clutches of the managing agents from a financial perspective and when it comes to every day matters such as the cleanliness of the communal areas. Ask other people what they think of their service. On a final note, find out the dates that the service charges are due to the appropriate party and specifically what you get for your money.
How do I identify value for money conveyancing in Thetford?
First ask your friends and family they would would instruct. Second, use a search tool on the internet for conveyancing in Thetford. Phone two or three from the list and ask them to send you their conveyancing estimate and discuss your needs with the solicitor who will handle your conveyancing before you make your decision. Third is to make use of our search tool to assist you in finding the right lawyers for you based on your unique requirements including location,speed, complexity and who your intended lender is.Resist the temptation to appoint £99 conveyancing solicitors in Thetford