It is is a decade since I acquired my house in Ulverston. Conveyancing lawyers have recently been retained on the sale but I can't track down the title deeds. Is this a major issue?
Don’t worry too much. First the deeds may be kept by the mortgage company or they may be in the possession of the solicitor who handled your purchase. Secondly the likelihood is that the title will be registered at the land registry and you will be able to prove you own the property by your conveyancing solicitors acquiring current official copies of the land registers. Almost all conveyancing in Ulverston relates to registered property but in the rare situation where your property is not registered it adds to the complexity but is not insurmountable.
I am considering applying for a UBS mortgage for purchase of a new build (under development) in Ulverston with 70% LTV. Is it compulsory to choose a solicitor on the conveyancing panel for UBS ?
There is nothing to stop you using your solicitor, but UBS will insist on their interests being represented by a firm on their conveyancing panel. There is greater potential for delays and confusion with two solicitors involved, and it will undoubtedly be more expensive too.
Me and my brother own a semi-detached Victorian house in Ulverston. Conveyancing lawyer acted for me and Britannia. I happened to do a free search for it on the Land Registry database and I saw a couple of entries: one for freehold, the second leasehold under the matching address. If a house is not a freehold shouldn't I have been informed?
You need to review 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 proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Ulverston and other areas of the country and poses no real issues for owners other than when they remortgage they have to account for both freehold and leasehold interests when dealing with lenders. You can also check the position with the conveyancing practitioner who conducted the work.
How does conveyancing in Ulverston differ for newly converted properties?
Most buyers of new build or newly converted property in Ulverston approach us having been asked by the seller to sign contracts and commit to the purchase even before the property is built. This is because new home sellers in Ulverston tend to buy the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Ulverston or who has acted in the same development.
I'm remortgaging my primary home to a BTL mortgage with Accord Mortgages Ltd and I will use the ballance of the raised equity as a down payment on a second property. The area we are talking about is Ulverston. Will your solicitors be able to act for both sets of mortgage companies and link together the transactions?
Do use our comparison tool on this page to check that the solicitors are approved by both lenders. On the basis that they are the conveyancer will be able to simultaneously deal with the two transactions but you should have a chat with you conveyancer and make apparent your expectations and requirements.
Do you have any advice for leasehold conveyancing in Ulverston with the intention of saving time on the sale process?
- Much of the delay in leasehold conveyancing in Ulverston can be bypassed if you appoint lawyers as soon as your agents start advertising the property and request that they start to put together the leasehold documentation needed by the buyers’ conveyancers. If you have had conflict with your freeholder or managing agents it is very important that these are resolved before the property is put on the market. The purchasers and their solicitors will be reluctant to purchase a flat where a dispute is unresolved. You may need to swallow your pride and discharge any arrears of service charge or resolve the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose particulars of the dispute to the buyers, but it is better to present the dispute as over rather than unsettled. If you are supposed to have a share in the Management Company, you should make sure that you are holding the original share document. Obtaining a duplicate share certificate can be a time consuming process and slows down many a Ulverston conveyancing transaction. Where a duplicate share is required, do contact the company director and secretary or managing agents (where applicable) for this at the earliest opportunity. Many landlords or managing agents in Ulverston charge for supplying management packs for a leasehold home. You or your lawyers should enquire as to the fee that they propose to charge. The management pack sought as soon as you have a buyer, thus reducing delays. The average time it takes to obtain the necessary information is three weeks. It is the most common cause of delay in leasehold conveyancing in Ulverston.
I own a basement flat in Ulverston, conveyancing formalities finalised half a dozen years ago. Can you let me have an estimated range of the fair premium for a lease extension? Similar properties in Ulverston with over 90 years remaining are worth £179,000. The average or mid-range amount of ground rent is £65 levied per year. The lease finishes on 21st October 2078
With only 57 years left to run we estimate the price of your lease extension to be between £26,600 and £30,800 as well as professional fees.
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 in the absence of comprehensive due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There may be additional issues that need to be considered and clearly you should be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information without first seeking the advice of a professional.