It is 10 years ago since I acquired my property in Bilston and Bradley. Conveyancing lawyers have now been retained on the sale but I am unable to locate my title deeds. Is this a major issue?
Don’t worry too much. Firstly there is a chance that the deeds will be retained by the mortgage company or they could be in the possession of the conveyancers who handled your purchase. Secondly the chances are that the property will be registered at the land registry and you will be able to establish that you own the property by your conveyancing lawyers procuring current official copies of the land registers. The vast majority of conveyancing in Bilston and Bradley relates to registered property but in the rare situation where your property is unregistered it is more tricky but is resolvable.
My wife and I are purchasing a flat in Bilston and Bradley. It might be a silly question but how we can trust a conveyancer? At some point we will need to put funds into their account. What protection do we have from them run away with our monies?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
I am buying a property in Bilston and Bradley. An unusual aspect is that the roof has a solar panel. Principality have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
As you are obtaining a mortgage with Principality your lawyer must check the conveyancing requirements contained in Section two of UK Finance Lenders’ Handbook for Principality. The CML Handbook contains minimum conditions for solar panel roof-space leases, and lawyers are required to report to Principality where a lease fails to meet these specifications. The conditions relate to the installation of panels on properties nationwide and is not limited to Bilston and Bradley.
I currently have a mortgage with Bank of Ireland for my property in Bilston and Bradley. Conveyancing was finalised some time ago. In the event that I decide to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Bank of Ireland?
You must advise Bank of Ireland prior to renting your property as this is likely to be a breach of Bank of Ireland’s mortgage conditions. In many cases banks or building societies will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Bank of Ireland directly. It should not be necessary to do this via a Bank of Ireland conveyancing panel firm.
I have a terraced Victorian property in Bilston and Bradley. Conveyancing lawyer represented me and Lloyds TSB Bank. I did a free Land Registry search last week and I saw a couple of entries: the first freehold, the second leasehold with the exact same address. If a house is not a freehold shouldn't I have been informed?
You need to 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 Bilston and Bradley and other areas of 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 enquire as to the position with your conveyancing lawyer who carried out the work.
About to purchase a new build apartment in Bilston and Bradley. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build legal work.
Set out below are examples of a few leasehold new build enquiries that you may expect your new-build leasehold conveyancing in Bilston and Bradley
Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? Please supply evidence that the form of Lease proposed has been approved by the Land Registry. There must be mutual enforceability of lessee’s covenants.
If all goes to plan we aim to complete the disposal of our £125,000 apartment in Bilston and Bradley on Wednesday in a week. The freeholder has quoted £312 for Certificate of Compliance, building insurance schedule and previous years statements of service charge. Is it legal for a freeholder to charge exorbitant fees for a flat conveyance in Bilston and Bradley?
Bilston and Bradley conveyancing on leasehold maisonettes more often than not necessitates the buyer’s lawyer sending questions for the landlord to answer. Although the landlord is not legally bound to address these enquiries the majority will be willing to assist. They are entitled to levy a reasonable charge for responding to questions or supplying documentation. There is no set fee. The average fee for the information that you are referring to is £350, in some cases it is in excess of £800. The management information fee levied by the landlord must be sent together with a summary of entitlements and obligations in respect of administration charges, without which the invoice is not strictly payable. Reality however dictates that you have little option but to pay whatever is demanded if you want to sell the property.
Bilston and Bradley Conveyancing for Leasehold Flats - Examples of Queries Prior to buying
The answer will be useful as a) areas may cause problems in the building as the communal areas may begin to deteriorate if maintenance are not paid for b) if the leasehold owners have a dispute with the managing agents you will need to have full disclosure Please note if it is no more than 80 years it will impact the value of the property. Check with your bank that they are willing to go ahead with the loan given the lease term. Leases with less than 80 years remaining means that you will probably have to extend the lease sooner rather than later and it is worth discovering how much this will be. For most Bilston and Bradleylease extensions you will be required to have been the owner of the property for two years before you are eligible to extend the lease.