It is a dozen years since I purchased my house in Audlem. Conveyancing solicitors have recently been retained on the sale but I can't locate the title documents. Will this jeopardise the sale?
You need not be too concerned. Firstly there is a possibility that the deeds will be retained by the mortgage company or they could be in the possession of the solicitor who acted in the purchase. Secondly the chances are that the land will be registered at the land registry and you will be able to establish that you own the property by your conveyancing solicitors acquiring current official copies of the land registers. The vast majority of conveyancing in Audlem relates to registered property but in the rare situation where your home is not registered it is more of a problem but is not insurmountable.
My aunt passed away six months ago and as sole heir and executor I was left the house in Audlem. The house had a relatively small loan remaining of approximately £5k. I want to have the title changed into my name whilst I re-mortgage to TSB, pay off the mortgage. Is this allowed?
Where you plan to re-mortgage then TSB will require that you use a conveyancer on the TSB 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 TSB 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 TSB mortgage is registered as a charge at the Land Registry.
Yesterday I discovered that there is a flying freehold issue on a house I put an offer in a fortnight ago in what was supposed to be a simple, chain free conveyancing. Audlem is the location of the property. Can you offer any advice?
Flying freeholds in Audlem are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Audlem you would need to get your solicitor to go through the deeds thoroughly. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Audlem may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
Do I need to be suspicious by estate agents that I am dealing with are encouraging me to use an internet conveyancing firm rather than a local Audlem conveyancing firm?
As with many professional services, often referrals from connections can be extremely useful or valuable. But there are lots of players in a conveyancing transaction; estate agents, financial adviser and mortgage companies might all suggest solicitors to use. Sometimes these solicitors might be known to one of the organisations as one of the best in their field, but occasionally there might be a financial incentive behind the recommendation. You are at liberty to choose your preferred lawyer. Don't forget that some lenders operate an approved list of conveyancers you must use for the mortgage related work in your conveyancing.
I am a negotiator for a long established estate agent office in Audlem where we see a number of leasehold sales jeopardised as a result of short leases. I have received conflicting advice from local Audlem conveyancing firms. Could you confirm whether the seller of a flat can commence the lease extension formalities for the buyer?
Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser need not have 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 purchaser.
I own a 1 bedroom flat in Audlem, conveyancing having been completed 5 years ago. How much will my lease extension cost? Comparable properties in Audlem with over 90 years remaining are worth £206,000. The average or mid-range amount of ground rent is £45 levied per year. The lease ceases on 21st October 2089
With only 65 years left to run the likely cost is going to span between £13,300 and £15,400 as well as 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 a more accurate figure without more detailed due diligence. Do not use this information in a Notice of Claim or as an informal offer. There may be additional concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Please do not move forward based on this information without first getting professional advice.