It is a dozen years since I acquired my home in Valley. Conveyancing solicitors have just been retained on the sale but I am unable to track down the title documents. Will this jeopardise the sale?
You need not be too concerned. Firstly the deeds may be retained by the lender or they could be in the possession of the lawyers who oversaw the purchase. Secondly the likelihood is that the land will be registered at the land registry and you will be able to establish that you are the registered owner by your conveyancing solicitors procuring current official copies of the land registers. The vast majority of conveyancing in Valley involves registered property but in the rare situation where your property is unregistered it adds to the complexity but is not insurmountable.
We were going to get a DIP from Barclays this week so we know how much we could potentially offer as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc). Do Barclays recommend any Valley solicitors on the Barclays conveyancing panel, or is it better to go independently?
You will need to appoint Valley solicitors independently although you'll need to choose one on the Barclays conveyancing panel. The solicitor represents both you and Barclays through the process.
The formalities of my purchase has taken place for my property in Valley. Conveyancing was of an acceptable standard but I would like to complain about the lender. How do I make a complaint?
Almost all lenders have complaints procedures. Your first port of call should be one of the lender’s branches or the Customer Services Department at head office. Ordinarily complaints to a lender are sorted out very quickly. However if you are not satisfied that the matter is not resolved you can write to Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London E14 9SR with full details of your complaint.
Intending to buy a house in Valley. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Kent Reliance conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Valley property lawyer is on the Kent Reliance conveyancing panel.
How does conveyancing in Valley differ for newly converted properties?
Most buyers of new build residence in Valley contact us having been asked by the housebuilder to sign contracts and commit to the purchase even before the residence is constructed. This is because builders in Valley usually purchase the site, 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 Valley or who has acted in the same development.
I have been on the look out for a ground for flat up to £305k and found one round the corner in Valley I like with amenity areas and transport links nearby, the downside is that it's only got 52 remaining years left on the lease. I can't really find anything else in Valley in this price bracket, so just wondered if I would be making a mistake acquiring a short lease?
Should you require a mortgage the remaining unexpired lease term will likely be a potential deal breaker. Discount the price by the expected lease extension will cost if not already taken into account. If the current proprietor has owned the property for at least twenty four months you can ask them to commence the lease extension formalities and pass it to you. You can add 90 years to the existing lease term and have £0 ground rent by law. You should speak to your conveyancing solicitor about this.
How difficult is it to transfer to a new conveyancer as I need to retain a firm on the Leeds Building Society conveyancing list. I instructed a local conveyancing solicitor in Valley five minutes from me but the firm is not accepted by Leeds Building Society
We will our best to assist in finding you a conveyancing solicitor in Valley on the Leeds Building Society panel. Please note that the property lawyers that we on the directory do not pay us a referral fee if you instruct them and are registered with the Solicitors Regulation Authority who oversee all conveyancing solicitors in Valley. In utilising search facility on this site, you can compare and instruct different solicitors and conveyancers both nationally and in Valley.
What are the common problems that you come across in leases for Valley properties?
Leasehold conveyancing in Valley is not unique. Most leases are individual and drafting errors can result in certain provisions are wrong. For example, if your lease is missing any of the following, it could be defective:
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A provision to repair to or maintain parts of the building
You will have a problem when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Nationwide Building Society, Virgin Money, and TSB all have express requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is defective they may refuse to grant the mortgage, forcing the buyer to withdraw.
Leasehold Conveyancing in Valley - Examples of Queries Prior to Purchasing
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Does this lease have more than 90 years unexpired? Is the freehold reversion owned jointly by the tenants? It would be wise to discover if there are any onerous prohibitions in the lease. For example it is fairly common in Valley leases that pets are not allowed in in a block in Valley. If you love the propertyin Valley but your dog is not allowed to live with you then you will be presented with a hard decision.