It is a dozen years since I purchased my house in Arnside. Conveyancing solicitors have recently been retained on the sale but I can't locate my title deeds. Is this a major issue?
Don’t worry too much. First the deeds may be kept by the lender or they may stored with the conveyancers who oversaw the purchase. Secondly the likelihood is that the property will be recorded at the land registry and you will be able to establish that you own the property by your conveyancing solicitors obtaining up to date copy of the land registers. Almost all conveyancing in Arnside involves registered property but in the rare situation where your property is unregistered it adds to the complexity but is not insurmountable.
There are a variety of conveyancing solicitors in Arnside but how do I know who I should use?
Do not opt for the lowest Arnside conveyancing quote. You really do get what you’re paying for when it comes to conveyancing solicitors. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you know exactly what you’ll have to pay in ahead of time.
I have paid off my mortgage with RBS. I assume I don't need a Arnside conveyancing practitioner on the RBS panel to remove the mortgage at the Land Registry. Am I right?
If you have finished paying off your RBS mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the RBS mortgage from the register. RBS, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where RBS has sent the Land Registry the discharge electronically, and
- RBS has instructed the Land Registry to do so
Completion of my remortgage has taken place for my property in Arnside. Conveyancing was satisfactory but I feel I should register my dissatisfaction about the lender. Who do I contact should I wish to lodge a complaint?
Most 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 resolved very quickly. If you feel the matter is not resolved you can write to Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London E14 9SR who will take matters further.
I used Action Conveyancing several years ago for my conveyancing in Arnside. I now require my papers but cannot find the solicitor. What do I do?
Do call the Solicitors Regulatory Authority (SRA) to assist in tracing your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Arnside of the conveyancing firm of solicitors you previously used, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
I am employed by a reputable estate agent office in Arnside where we have experienced a number of flat sales jeopardised as a result of leases having less than 80 years remaining. I have been given inconsistent advice from local Arnside conveyancing firms. Can you confirm whether the seller of a flat can start the lease extension process for the purchaser on completion of the sale?
Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer can avoid having to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or simultaneously with completion of the disposal of the property.
An alternative approach is to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.
I am the registered owner of a leasehold flat in Arnside, conveyancing having been completed in 2005. Can you let me have an estimated range of the fair premium for a lease extension? Comparable flats in Arnside with over 90 years remaining are worth £227,000. The average or mid-range amount of ground rent is £50 invoiced annually. The lease ends on 21st October 2094
With just 72 years unexpired we estimate the premium for your lease extension to range between £9,500 and £11,000 plus plus your own and the landlord's "reasonable" professional fees.
The suggested premium range above a general guide to costs for renewing a lease, but we are not able to provide the actual costs in the absence of comprehensive investigations. You should not use this information in tribunal or court proceedings. There are no doubt other concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. Neither should you move forward based on this information before getting professional advice.
Our conveyancer in Arnside has uncovered a defect with the lease for the property we are buying in Arnside. The seller’s lawyers have suggested defective title insurance as a workaround. We are happy with insurance and will pay for it. Our solicitor has advised that as he is on the mortgage company conveyancing panel he must ensure that the lender is happy with this solution. Are we the client or is the mortgage company?
Just because you have a mortgage offer from the bank does not mean to say that the property will be meet their requirements for the purposes of a mortgage. Your Arnside conveyancing lawyer has to ensure that the lease has to comply with the UK Finance Lenders’ Handbook Requirements. You and the bank are the client. The appropriate lender requirements must be adhered to by the bank conveyancing panel who has to balance acting for you and the bank