Much to our surprise we have been notified by our broker that my Tunstall solicitor is not on the bank Conveyancing panel. What can I do to check?
Your first step should be to contact your Tunstall conveyancer. You lawyer should inform you what has happened. If they are not on the panel they could put your in touch with solicitors on the conveyancing panel for your lender.
My aunt passed away last year and as sole heir and executor I was left the house in Tunstall. The house had a small mortgage left on it of around £5k. I want to transfer the title deeds into my name whilst I re-mortgage to Yorkshire BS, pay off the mortgage. Is this possible?
Given you plan to refinance then Yorkshire BS will require that you use a conveyancer on the Yorkshire BS 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 Yorkshire BS 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 Yorkshire BS mortgage is registered as a charge at the Land Registry.
My wife and I have arranged a further advance on our mortgage from Nottingham as we intend to conduct alterations to our home in Tunstall. Do we need to appoint a high street Tunstall solicitor on the Nottingham conveyancing panel to deal with the paperwork?
Nottingham would not normally instruct firms on their conveyancing panel to deal with such a matter. If they do require any legal work then you would need to ensure that such a lawyer was on the Nottingham conveyancing panel.
I am purchasing a property in Tunstall. A rare aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender TSB be concerned?
Given that your lender is TSB your lawyer must check the formal instructions contained in Section 2 of UK Finance Lenders’ Handbook for TSB. The Council of Mortgage Lenders’ Handbook contains minimum conditions for solar panel roof-space leases, and property lawyers are required to report to TSB where a lease fails to satisfy these requirements. The provisions relate to the installation of panels on properties countrywide and is not limited to Tunstall.
The mortgage over my property is with Nationwide for my property in Tunstall. Conveyancing has been completed months ago. Should I wish to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Nationwide?
Nationwide must be informed of your intention in advance of letting out your property as this is likely to be a breach of Nationwide’s mortgage conditions. It may be that Nationwide will permit you to let 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 Nationwide directly. It should not be necessary to do this via a Nationwide conveyancing panel lawyer.
I'm buying a new build house in Tunstall with the aid of help to buy. The developers refused to move on the price so I negotiated five thousand pounds worth of extras instead. The house builders rep told me not inform my lawyer about this extras as it may put at risk my loan with Chelsea Building Society. Do I keep my lawyer in the dark?.
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.
Back In 2009, I bought a leasehold flat in Tunstall. Conveyancing and The Royal Bank of Scotland mortgage went though with no issue. I have received a letter from someone saying they have taken over the reversionary interest in the property. It included a ground rent demand for rent dating back to 1995. The conveyancing solicitor in Tunstall who acted for me is not around. Do I pay?
The first thing you should do is contact the Land Registry to be sure that the individual purporting to own the freehold is in fact the new freeholder. It is not necessary to instruct a Tunstall conveyancing practitioner to do this as you can do this on the Land Registry website for a few pound. You should note that regardless, even if this is the rightful freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I purchased a 1 bedroom flat in Tunstall, conveyancing formalities finalised February 1997. Can you please calculate a probable premium for a statutory lease extension? Corresponding properties in Tunstall with an extended lease are worth £191,000. The ground rent is £55 levied per year. The lease ceases on 21st October 2079
You have 54 years left to run the likely cost is going to span between £31,400 and £36,200 plus costs.
The suggested premium range above a general guide to costs for renewing a lease, but we are not able to advice on the actual costs without more comprehensive due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Please do not move forward based on this information without first getting professional advice.
We have AIP from Bank of Scotland who said we could borrow up to £350k. When do we need to appoint a practitioner for conveyancing? Tunstall is where we are purchasing.
You can instruct a property lawyer now requesting that they generate a file on your behalf. This will facilitate: 1) the estate agent to issue a Sales Memo to the relevant parties 2) the seller’s conveyancing practitioner to send out the draft paperwork. However, do not ask your lawyer to start searches until you have your valuation report via Bank of Scotland and you are happy to move forward.