I am purchasing a house for cash in Witham. I have been residing for the last dozen years in Witham. Conveyancing searches are exorbitant. Given that I know the road and vicinity intimately should I not bother getting the solicitor to do all the conveyancing searches?
In the absence of a mortgage, then almost all of the Witham conveyancing searches are optional. Your lawyer will ’encourage you, no-doubt strongly, that you should have searches carried out, but she has a professional duty to take that path of advice. One thing to take into account; if you are going to dispose of the house in the future, it will likely be be of interest to your prospective purchaser what the searches contain. On occasion houses with no practical issues can still reveal unfavourable search results. A good conveyancing solicitor in Witham should be able to give you some constructive advice here.
My grandmother passed away last year and as sole heir and executor I was left the house in Witham. The house had a relatively small loan left on it of around £8000. I want to have the title changed into my name whilst I re-mortgage to Kent Reliance, pay off the mortgage. Is this possible?
If you plan to re-mortgage then Kent Reliance will insist on your using a conveyancer on the Kent Reliance 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 Kent Reliance 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 Kent Reliance mortgage is registered as a charge at the Land Registry.
I just bought a flat at auction in Witham. Conveyancing is required. What is next?
Now that you have to in every practical sense signed on the dotted line you will need to find a conveyancing solicitor quickly as you are faced with a pending a drop dead date to complete the purchase. All auction property will have a bespoke auction set of papers. This will include evidence of title and search results. In the case of leasehold property the conveyancing papers may contain a copy of the lease, management information and a sellers leasehold information form and associated conveyancing documentation pertinent to leasehold premises. You should give this to your appointed conveyancing solicitor as soon as possible. You also need to ensure that your finances are organised to complete the transaction on the set completion date.
My conveyancer has informed me that absentee landlord insurance is needed on my purchase. What is the typical level of cover needed for conveyancing in Witham?
The right level of absentee landlord indemnity insurance depends on who your lender is. It would differ for example between Yorkshire Building Society and Chelsea Building Society. Conveyancing solicitors as opposed to members of the public take out such policies.
We previously selected conveyancing lawyers locally in Witham on the Co-operative solicitor panel. They have just invoiced me an additional charge for dealing with the Co-operative mortgage. Is this a supplemental conveyancing fee set by Co-operative?
Provided it is contained in their Terms and Conditions or Quote then yes your solicitor is entitled to levy a fee for this. The charge is not set by Co-operative but by your Witham lawyer. Plenty of firms on the Co-operative panel will quote ’dealing with mortgage’ fee but some firms incorporate it on their overall fee.
I acquired my flat on 7 October and the transaction details are still not on the land registry website. Should I be concerned? My conveyancing solicitor in Witham said it should be registered in a couple of weeks. Are properties in Witham uniquely lengthy to register?
As far as conveyancing in Witham is concerned, registration is no faster or slower than anywhere else in the country. Rather than based on location, timescales can vary subject to the party submitting the application, whether it is in order and if the Land registry have to notify any third parties. Currently approximately three quarters of submission are fully addressed within two weeks but some can be subject to protracted delays. Historically registration is effected once the buyer has moved in to the premises thus an expedited registration is not usually primary concern but where it is urgent that the the registration takes place urgently then you or your lawyers can speak with the land registry and explain the circumstances.
I decided to have a survey done on a property in Witham ahead of retaining lawyers. I have been advised that there is a flying freehold overhang to the house. The surveyor advised that some banks will refuse to issue a loan on such a home.
It varies from the lender to lender. Santander has different instructions for example to Halifax. Should you wish to telephone us we can investigate further with the relevant mortgage company. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Witham. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Witham to see if the conveyancing costs will increase in light of this.
What makes a Witham lease defective?
Leasehold conveyancing in Witham is not unique. All leases are drafted differently and legal mistakes in the legal wording can sometimes mean that certain provisions are erroneous. The following missing provisions could result in a defective lease:
Clauses dealing with recovering service charges for expenditure on the building or common parts. Maintenance charge proportions which don’t add up to the correct percentage
A defective lease can cause problems when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Accord Mortgages Ltd, Bank of Scotland, and Godiva Mortgages Ltd all have express conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to provide security, forcing the buyer to withdraw.
Witham Conveyancing for Leasehold Flats - A selection of Questions you should ask Prior to buying
How many of the leaseholders are in arrears for their service charge payments? What is the name of the managing agents? The prefered form of lease structure is where the freehold title is in the ownership of the leaseholders. In this situation the lessees benefit from control and although a managing agent is usually retained where the building is bigger than a house conversion, the managing agent employed by the leaseholders.