I am expecting a DIP from Skipton this week so we know how much we could potentially offer as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc). Do Skipton recommend any Huntingdon solicitors on the Skipton conveyancing panel, or is it better to go independently?
You will need to appoint Huntingdon solicitors independently although you'll need to choose one on the Skipton conveyancing panel. The solicitor represents both you and Skipton through the process.
I can not work out if my lender obliges me to make sure the lease term for the flat is extended prior to the completion date. I have called my Huntingdon bank branch on a couple of occasions and was advised it wasn't an issue and they would lend. My Huntingdon conveyancing solicitor - who is on the lender conveyancing panel- called and was told they refuse to lend based on their published requirements. I have no idea who is right.
As long as the conveyancing practitioner is on the mortgage company approved list, she or he must comply with the CML Handbook provisions for the bank. Unless your lawyer obtains specific confirmation in writing that the mortgage company will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the mortgage company to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
About to purchase apartment in Huntingdon. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Virgin Money conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Huntingdon conveyancer is on the Virgin Money conveyancing panel.
Have purchased a a detached house in Huntingdon , What is the estimated time for the Land Registry to deal with the formalities evidencing my ownership? My Huntingdon conveyancing solicitor works at snail pace, so I want to be certain that my ownership is recorded.
As far as conveyancing in Huntingdon is concerned, registration is no faster or slower than anywhere else in the country. As opposed to being determined by geographic area, timescales can adjust according to the party submitting the application, whether it is in order and whether the Land registry communicate with any third parties. As of today in the region of 80% of submission are completed in less than three weeks but some can be subject to extensive delays. Historically registration occurs after the purchaser has moved in to the premises therefore 'speed' is not always top priority but if it is urgent that the the registration takes place urgently then you or your solicitor can communicate with the Registry to express the reasoning for the application to be prioritised.
How does conveyancing in Huntingdon differ for new build properties?
Most buyers of new build or newly converted property in Huntingdon approach us having been asked by the housebuilder to sign contracts and commit to the purchase even before the house is finished. This is because developers in Huntingdon usually 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 conveyancers 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 Huntingdon or who has acted in the same development.
I've recently found out that there is a flying freehold issue on a house I put an offer in two weeks back in what should have been a straight forward, no chain conveyancing. Huntingdon is where the house is located. Can you shed any light on this issue?
Flying freeholds in Huntingdon are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Huntingdon you must be sure that your lawyer goes through the deeds diligently. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Huntingdon may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.
I own a leasehold house in Huntingdon. Conveyancing and The Royal Bank of Scotland mortgage organised. A letter has just been received from someone claiming to own the freehold. It included a demand for arrears of ground rent dating back to 1995. The conveyancing solicitor in Huntingdon who acted for me is not around. Do I pay?
First make enquiries of HMLR to make sure that this person is in fact the registered owner of the freehold reversion. It is not necessary to instruct a Huntingdon conveyancing firm to do this as it can be done on-line for £3. Rest assured that regardless, even if this is the legitimate landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I bought a ground floor flat in Huntingdon, conveyancing formalities finalised half a dozen years ago. How much will my lease extension cost? Corresponding flats in Huntingdon with a long lease are worth £186,000. The average or mid-range amount of ground rent is £55 per annum. The lease terminates on 21st October 2073
With just 52 years unexpired the likely cost is going to range between £29,500 and £34,000 plus costs.
The figure that we have given is a general guide to costs for renewing a lease, but we are not able to supply the actual costs in the absence of comprehensive due diligence. Do not use the figures in tribunal or court proceedings. There may be additional concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. You should not move forward based on this information before getting professional advice.