We're in Wolverley, FTBs purchasing with a mortgage (lender is UBS , and our lawyer is on the UBS conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the UBS conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no property lawyer should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
How can we know in advance if a Wolverley conveyancing solicitor on the Coventry BS panel is any good?
When it comes to conveyancing in Wolverley seeking recommendations is a good start. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one advertising the lowest fees. We would always advise that you speak with the lawyer conducting your conveyancing.
The formalities of my remortgage has taken place for my property in Wolverley. Conveyancing was a necessary evil but I feel I should register my dissatisfaction about the lender. Who do I contact should I wish to lodge a complaint?
Almost all banks and building societies have complaints procedures. Your first point of contact should be one of the lender’s branches or the Customer Care Team at head office. We understand that complaints to a lender are sorted out effectively and efficiently. However if you are not satisfied that the matter is not resolved you can write to Financial Ombudsman Service who will take matters further.
After what feels like an age I have had an offer on an apartment in Wolverley agreed to, but there is a chain. The sellers have offered on somewhere, but it’s not yet agreed to, and are looking at other properties in the pipeline. I have chosen a high street conveyancing solicitor in Wolverley. What do I do now? At what point should I apply for the mortgage with HSBC?
It is usual to have apprehensions where there is a chain as you are unlikely to want to incur expenses too early (home loan application is in the region of one thousand pounds, then survey, Wolverley conveyancing search charges, etc). The first course of action is to ensure that your conveyancer is on the HSBC conveyancing panel. Regarding the next phase this very much dictated by the specifics of your transaction, motivation for this property and on the state of the market. During a buoyant market some home buyers will apply for the mortgage with HSBC and arrange for the valuation and only if it comes back ok would they request their solicitor to proceed with the conveyancing in Wolverley.
I purchased a semi-detached Victorian house in Wolverley. Conveyancing solicitor acted for me and Chelsea Building Society. I did a free Land Registry search last week and there are two entries: one for freehold, the second leasehold with the exact same address. I thought I was buying a freehold how can I check?
You should read 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 Wolverley and other locations in 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 buyers. You can also check the situation with your conveyancing solicitor who conducted the conveyancing.
How does conveyancing in Wolverley differ for new build properties?
Most buyers of new build premises in Wolverley come to us having been asked by the developer to exchange contracts and commit to the purchase even before the house is finished. This is because builders in Wolverley tend to acquire 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 conveyancing solicitors 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 accustomed to new build conveyancing in Wolverley or who has acted in the same development.
I am attracted to a two maisonettes in Wolverley which have in the region of 50 years unexpired on the lease term. should I be concerned?
A lease is a legal document that entitles you to use the premises for a prescribed time frame. As the lease gets shorter the saleability of the lease decreases and results in it becoming more costly to extend the lease. For this reason it is advisable to extend the lease term. Sometimes it is difficult to sell a property with a short lease because mortgage companies may be unwilling to lend money on such properties. Lease extension can be a difficult process. We recommend you seek professional help from a solicitor and surveyor with experience in this arena.
I inherited a garden flat in Wolverley, conveyancing was carried out in 2004. Can you work out an approximate cost of a lease extension? Corresponding flats in Wolverley with a long lease are worth £181,000. The ground rent is £55 invoiced annually. The lease terminates on 21st October 2075
With only 51 years remaining on your lease the likely cost is going to range between £30,400 and £35,200 as well as plus your own and the landlord's "reasonable" professional fees.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of comprehensive investigations. You should not use this information in tribunal or court proceedings. There may be other issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information without first getting professional advice.
How does one as executor remove a departed person's name from the title register for a property in Wolverley?
If a Wolverley property is co-owned and one of the proprietors passes away, the name will not automatically be removed from the title deeds. You are not required to remove their name as when it comes to a disposal you would simply need to supply proof as to the reason the joint proprietor is missing from the contract, such as a grant of probate.
With a view to making things smoother for the sale of the property you can arrange to have the deceased name erased from the title register by submitting an application to HMLR with evidence of the death. There is no fee from the Registry for this service.