Much to our surprise we have been informed by our financial adviser that my Fenny Stratford the law firm I have appointed is not on the mortgage company Conveyancing panel. What can I do to be sure whether this is correct?
The first thing you need to do is to contact your Fenny Stratford conveyancer. It is reasonable to expect your lawyer to advise you of the situation. If they are not on the panel they could put your in touch with solicitors on the approved list of lawyers for your mortgage company.
My grandmother passed away last year and as sole heir and executor I was left the house in Fenny Stratford. The house had a relatively small loan left on it of around £4500. I want to have the title changed into my name whilst I re-mortgage to Kent Reliance, pay off the mortgage. Is this allowed?
If you plan to re-mortgage then Kent Reliance will insist on your using a conveyancer on the Kent Reliance 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 Kent Reliance 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 Kent Reliance mortgage is registered as a charge at the Land Registry.
My wife and I have a renovated Edwardian house in Fenny Stratford. Conveyancing lawyer represented me and Birmingham Midshires. I did a free Land Registry search last week and there are two entries: one for freehold, another for leasehold under the matching address. Is it worth asking Birmingham Midshires to clarify?
You need to review the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Fenny Stratford 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 check the position with your conveyancing practitioner who carried out the work.
Due to the advice of my in-laws I had a survey completed on a property in Fenny Stratford in advance of instructing lawyers. I have been advised that there is a flying freehold aspect to the property. My surveyor advised that some mortgage companies tend not issue a mortgage on a flying freehold property.
It depends who your proposed lender is. Bank of Scotland has different requirements for example to Nationwide. If you e-mail us we can look into this further with the appropriate mortgage company. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Fenny Stratford. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Fenny Stratford to see if the conveyancing will be more expensive.
My fiance and I may need to sub-let our Fenny Stratford ground floor flat temporarily due to a career opportunity. We instructed a Fenny Stratford conveyancing practice in 2004 but they have since shut and we did not think at the time seek any advice as to whether the lease permits subletting. How do we find out?
A small minority of properties in Fenny Stratford do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord cannot unreasonably withhold but, in such cases, they would need to see references. Experience suggests that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting consent.
Leasehold Conveyancing in Fenny Stratford - A selection of Queries before buying
Plenty Fenny Stratford leasehold flats will incur a service charge for maintenance of the block set on behalf of the landlord. If you acquire the flat you will have to meet this amount, usually in instalments throughout the year. This may be anything from a few hundred pounds to thousands of pounds for buildings with lifts and large common grounds. There will also be a rentcharge to be met yearly, this is usually not a significant amount, say around £50-£100 but you need to enquire as occasionally it can be many hundreds of pounds. The best form of lease arrangement is if the freehold reversion is in the ownership of the leaseholders. In this scenario the leaseholders benefit from being in charge if their destiny and although a managing agent is often retained where the building is larger than a house conversion, the managing agent is directed by the tenants. Please note if it is fewer than 80 years it will affect the salability of the flat. Check with your bank that they are happy with residual term of the lease. A short lease means that you will most likely require a lease extension sooner rather than later and it is worth finding out how much this will be. Remember, in most cases you will need to own the residence for a couple of years before you are entitled to extend the lease.