I have just been advised by my mortgage adviser that my Great Coates lawyer is not on the mortgage company Solicitor panel. What can I do to check?
The first thing you need to do is to contact your Great Coates lawyer directly. You lawyer should 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 bank.
Do I choose a Licenced Conveyancer or Solicitor for conveyancing in Great Coates?
Two types of professional can carry out conveyancing in Great Coates namely licenced conveyancers or solicitors. Both professionals handle conveyancing services that required to complete the disposal or purchase of property. They are both obliged to carry out Great Coates conveyancing to the same standards and guidelines so you may be sure that your conveyancing will be properly administered and that all requirements and steps should be correctly taken.
My partner and I have arranged the release of further monies on our mortgage from Principality as we intend to conduct a loft conversion to our property in Great Coates. Are we obliged to appoint a high street Great Coates solicitor on the Principality conveyancing panel to deal with the legals?
Principality would not normally require a member of their conveyancing panel to deal with the formalities. If they do require any legal work then you would need to ensure that such a lawyer was on the Principality conveyancing panel.
I have a mortgage with Principality for my property in Great Coates. Conveyancing has been completed months ago. If I am intending to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Principality?
You must advise Principality prior to renting your property as this is likely to be a breach of Principality’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 Principality directly. It should not be necessary to do this via a Principality conveyancing panel firm.
I used Wolstenholmes several years past for my conveyancing in Great Coates. Now, I need my documents but cannot find the solicitor. What do I do?
You should contact the Solicitors Regulatory Authority (SRA) to assist in tracking down your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Great Coates of the conveyancing firm of solicitors you previously used, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
How does conveyancing in Great Coates differ for new build properties?
Most buyers of new build property in Great Coates come to us having been asked by the housebuilder to sign contracts and commit to the purchase even before the residence is constructed. This is because new home sellers in Great Coates typically buy the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Great Coates or who has acted in the same development.
Jane (my partner) and I may need to sub-let our Great Coates 1st floor flat for a while due to a new job. We instructed a Great Coates conveyancing practice in 2001 but they have closed and we did not think at the time get any guidance as to whether the lease allows us to sublet. How do we find out?
The lease dictates the relationship between the freeholder and you the flat owner; in particular, it will set out if subletting is not allowed, or permitted but only subject to certain caveats. The accepted inference is that if the lease contains no specific ban or restriction, subletting is allowed. Most leases in Great Coates do not prevent strict prohibition on subletting – such a provision would adversely affect the market value the property. In most cases there is a basic requirement that the owner notifies the freeholder, possibly supplying a duplicate of the tenancy agreement.
I invested in buying a studio flat in Great Coates, conveyancing was carried out 10 years ago. How much will my lease extension cost? Similar properties in Great Coates with an extended lease are worth £185,000. The ground rent is £65 invoiced every year. The lease ends on 21st October 2079
With just 61 years unexpired we estimate the premium for your lease extension to be between £18,100 and £20,800 plus legals.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of comprehensive due diligence. Do not use this information in a Notice of Claim or as an informal offer. There may be additional concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information before seeking the advice of a professional.