I plan on acquiring residence in Breaston. My Solicitor is not on the bank solicitor panel. Can I still continue with my Breaston conveyancing solicitor notwithstanding that they are not on the bank approved list?
Various options include
- Carry on with your preferred Breaston solicitor but your bank will undoubtedly retain a conveyancer from their approved panel. This will result in additional cost together with likely delay.
- Get a fresh lawyer to conduct the conveyancing, making sure they are on the mortgage company conveyancing panel.
- Convince your conveyancing practitioner to do everything possible to get accepted on the bank’s conveyancing panel
My solicitor has informed me that missing deeds insurance is needed on my purchase. What is the typical level of cover needed for conveyancing in Breaston?
The right level of missing deeds indemnity insurance should be dictated by who who your lender is. It would differ for example between National Westminster Bank and Bank of Scotland. Conveyancing practitioners as opposed to borrowers take out such policies.
We have a mortgage agreed in principle with HSBC. Breaston conveyancing practitioners were appointed. How long does it take for HSBC to send the offer to the solicitor?
There is no definitive answer here. Have HSBC done the survey? Have you informed HSBC as to your lawyers' details and checked that your lawyers are on the HSBC conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
I have decided to exercise my right to buy my property in Breaston off the council. I have a mortgage offer with Aldermore. Conveyancing is not something I have any knowledge of. Can I proceed without a solicitor easily? I think we can but we keep being told I should have one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Aldermore, you will need to appoint a solicitor on the Aldermore conveyancing panel.
I opted to have a survey carried out on a house in Breaston prior to appointing lawyers. I have been advised that there is a flying freehold aspect to the property. The surveyor has said that some banks will not grant a loan on such a premises.
It depends who your proposed lender is. Bank of Scotland has different instructions from Halifax. If you e-mail us we can investigate further via the relevant lender. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Breaston. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Breaston to see if the conveyancing costs will increase in light of this.
I'm converting the mortgage on my primary home to a BTL mortgage with Lloyds TSB Bank and intend to use the remaining equity as a down payment on a second house. The neighborhood we are looking at is Breaston. Will your lawyers be able to act for the two mortgage companies and link together the two deals?
Make use of our search tool on this site to be sure that the conveyancers are approved by both mortgage companies. On the basis that they are your lawyer should be able to simultaneously deal with the two conveyancing matters but you should talk with you solicitor and make clear your expectations and needs.
I own a leasehold flat in Breaston. Conveyancing and The Mortgage Works mortgage went though with no issue. A letter has just been received from someone claiming to own the reversionary interest in the property. It included a ground rent demand for rent dating back to 1996. The conveyancing solicitor in Breaston who previously acted has long since retired. What should I do?
First make enquiries of HMLR to be sure that this person is indeed the registered owner of the freehold reversion. It is not necessary to instruct a Breaston conveyancing practitioner to do this as you can do this on the Land Registry website for £3. You should note that in any event, even if this is the legitimate freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I inherited a 1st floor flat in Breaston, conveyancing having been completed July 1997. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Similar flats in Breaston with a long lease are worth £192,000. The average or mid-range amount of ground rent is £55 invoiced every year. The lease ceases on 21st October 2075
With just 54 years remaining on your lease the likely cost is going to span between £32,300 and £37,400 as well as costs.
The figure that we have given is a general guide to costs for extending a lease, but we are not able to advice on the actual costs in the absence of comprehensive investigations. Do not use the figures in tribunal or court proceedings. There may be other concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. Please do not take any other action based on this information before seeking the advice of a professional.