Have just purchased a repossessed house at auction in Bedford. Conveyancing is necessary. What are my next steps?
Having legally committed yourself to purchase you now have to find a conveyancing solicitor quickly as you now have a pending a drop dead date to complete the transaction. An auction property will ordinarily have an associated auction pack. This will likely include most,if not all of the documents that your lawyer will need. Where you are dealing with leasehold premises the legal pack may contain a copy of the lease, management information and a sellers leasehold information form and other conveyancing documentation specific to leasehold premises. You need to hand this to the solicitor working for you at the earliest opportunity. You also need to ensure that your finances are in order to complete on the date specified in the contract.
How can we tell if a Bedford conveyancing solicitor on the Clydesdale panel is any good?
When it comes to conveyancing in Bedford getting 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 which is cheap as chips. We would always recommend that you speak with the solicitor handling your transaction.
I have today made my last payment due on my mortgage with Aldermore. I assume I don't need a Bedford conveyancer on the Aldermore panel to remove the mortgage at the Land Registry. Am I right?
If you have finished paying off your Aldermore 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 Aldermore mortgage from the register. Aldermore, 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 Aldermore has sent the Land Registry the discharge electronically, and
- Aldermore has instructed the Land Registry to do so
Yesterday I discovered that there is a flying freehold element on a property I have offered on last month in what was supposed to be a quick, chain free conveyancing. Bedford is the location of the property. What do you suggest?
Flying freeholds in Bedford are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Bedford you would need to get your solicitor to go through the deeds very carefully. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Bedford may ascertain 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 residence.
Is it simple use the search tool to choose a conveyancing lawyer in Bedford on the approved list for my bank?
First pick a bank such as Birmingham Midshires, Bank of Scotland or Bank of Ireland then choose your location e.g. Bedford. Conveyancing practices in Bedford and across England and Wales should be shown.
I am looking at a two maisonettes in Bedford which have approximately 50 years remaining on the leases. Will this present a problem?
There are plenty of short leases in Bedford. The lease is a legal document that entitles you to use the premises for a prescribed time frame. As a lease shortens the value of the lease decreases and it becomes more costly to extend the lease. For this reason it is advisable to extend the lease term. It is often difficult to sell a property with a short lease as mortgage companies may be unwilling to lend money on properties of this type. Lease enfranchisement can be a protracted process. We advise that you get professional help from a solicitor and surveyor with experience in this arena.
I bought a studio flat in Bedford, conveyancing having been completed April 2000. Can you let me have an estimated range of the fair premium for a lease extension? Equivalent flats in Bedford with an extended lease are worth £222,000. The ground rent is £50 charged once a year. The lease ceases on 21st October 2092
You have 71 years unexpired we estimate the premium for your lease extension to range between £9,500 and £11,000 as well as plus your own and the landlord's "reasonable" professional fees.
The figure above a general guide to costs for renewing a lease, but we cannot give you the actual costs without more comprehensive investigations. Do not use this information in tribunal or court proceedings. There are no doubt other issues that need to be considered and clearly you should be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information before seeking the advice of a professional.
Should one as executor remove a departed person's details from the title register for a house in Bedford?
If a Bedford property is jointly owned and one of the owners passes away, their name will not immediately be removed from the title deeds. You are not required to remove their name as when it comes to a sale you would just need to evidence why the other proprietor is missing from the contract, normally this is in the form of a grant of probate.
With the aim of making things simpler for the sale of the property you may arrange to have the deceased party removed from the title by submitting an application to the land registry with proof of the death. There is no fee from the Registry for this service.