My husband and I are hoping to buy a house in Fenstanton and have instructed a Fenstanton conveyancing practice. Within the past 48 hours our lawyer has forwarded the sale agreement to be signed with a detailed report with a view to exchanging next week. Britannia have this evening contacted us to inform me that there is now an issue as our Fenstanton lawyer is not on their approved list of lawyers. Is this a problem?
Where you are buying a property with the assistance of a mortgage it is standard for the purchasers' lawyers to also act for the purchaser's lender. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Quality Scheme. Your solicitor should contact your mortgage company and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You don't have to instruct a firm on the bank's conveyancing panel as you are at liberty to use your preferred Fenstanton lawyers, in which case it will likely add costs, and it may delay matters as you have another set of people involved.
Have just purchased a probate house at auction in Fenstanton. Conveyancing is required. What is next?
Given that you are now exchanged you should appoint a conveyancing practitioner quickly as you are faced with a tight deadline in which to complete the deal. Every auction property will ordinarily have an associated auction pack. This should include the copy title deeds, local authority and drainage searches. Where you are dealing with leasehold premises the conveyancing pack may contain a copy of the lease, management information and a sellers leasehold information form and other conveyancing paperwork relating to leasehold premises. You must hand this to your appointed conveyancing solicitor as soon as possible. Do make sure that that you have the requisite funding in place to complete the transaction on the set completion date.
I have paid off my mortgage with UBS. I assume I don't need a Fenstanton conveyancer on the UBS panel to remove the mortgage at the Land Registry. Am I right?
If you have finished paying off your UBS 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 UBS mortgage from the register. UBS, 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 UBS has sent the Land Registry the discharge electronically, and
- UBS has instructed the Land Registry to do so
The formalities of my purchase has taken place for my property in Fenstanton. Conveyancing was satisfactory but I feel I should register my dissatisfaction about the lender. How does one go about formally complaining?
Most lenders have complaints procedures. Your first port of call should be one of the lender’s branches or the Customer Services Team at head office. Ordinarily complaints to a lender are resolved very quickly. However if you are not satisfied that the matter is not resolved you can write to Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London E14 9SR with full details of your complaint.
I require quick conveyancing in Fenstanton as I am under a deadline to complete in less than 2 weeks. A mortgage is not required. Is it possible to avoid the conveyancing searches to save money and time?
As you are are a mortgage free buyer you have the choice not to have searches carried out although no conveyancer would advise that you don't. Drawing on years of experience of conveyancing in Fenstanton the following are examples of what can arise and therefore affect future mortgageability: Enforcement Actions, Outstanding Charges, Outstanding Grants, Unadopted Roads,...
I've recently bought a leasehold flat in Fenstanton. Do I have any liability for service charges relating to a period prior to completion of my purchase?
In a situation where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I purchased a ground floor flat in Fenstanton, conveyancing formalities finalised April 2004. Can you let me have an estimated range of the fair premium for a lease extension? Corresponding flats in Fenstanton with over 90 years remaining are worth £216,000. The ground rent is £50 yearly. The lease finishes on 21st October 2087
You have 69 years remaining on your lease we estimate the premium for your lease extension to span between £9,500 and £11,000 as well as professional fees.
The figure above a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of comprehensive investigations. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information before getting professional advice.
If instructed can a conveyancer remove a name from the title of my home in Fenstanton ?
Extracting or adding someone to the title of your house is relatively straightforward. You’ll need to appoint a property lawyer to discuss your legal rights before you can proceed with a transfer of property. Contact us to book a free consultation with one a conveyancing practitioner