We are about to exchange contracts for a ground floor flat in Limbury. We have hit a problem. Our loan offer with Godiva Mortgages Ltd expires on 2/9/2019 but the owners are insisting on a completion date of 4/9/2019. Is it possible to extend the loan offer?
The best person to deal with your question is your conveyancer who will hopefully determine whether he or she is better off negotiating with the mortgage broker, vendor’s conveyancers, selling agents or indeed all three based on what has gone on in your transaction as of today.
We note that you have a post code search directory identifying firms on the Co-operative conveyancing panel. Do companies pay you a commission if I instruct them for our conveyancing in Limbury?
We are a listing service only for law firms wishing to communicate if they are on the Co-operative conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Limbury.
Are all Limbury Conveyancing Quality Solicitors on the Lloyds conveyancing list of approved practices?
A selection of lenders now utilise the accreditation scheme as the kick off point for Panel membership such as HSBC and Santander. The Law Society’s CQS membership however gives no guarantee to lender panel acceptance. Nevertheless,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for firms wishing to remain on their approved list of firms.
Is it the case that all Limbury solicitor firms on the Kent Reliance conveyancing panel are governed by the SRA?
As a firm of solicitors, in order to be on the Kent Reliance approved list of solicitors they would need to be regulated by the Solicitors Regulatory Authority. Some banks do allow licenced conveyancers on their panel and in that case the organisation would be overseen by the CLC.
I had a mortgage agreed in principle with Aldermore. Limbury conveyancing practitioners are chosen. How long does it take for Aldermore to send the offer to the conveyancer?
There is no definitive answer here. Have Aldermore completed the valuation? Have you informed Aldermore as to your lawyers' details and checked that your lawyers are on the Aldermore conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
I have a 4 bedroom Georgian property in Limbury. Conveyancing lawyer acted for me and TSB. I happened to do a free search for it on the Land Registry database and there are two entries: the first freehold, the second leasehold under the exact same property. I'd like to know for sure, how can I find out??
You should 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 proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Limbury and other locations in the country and poses no real issues for owners other than when they buy they have to account for both freehold and leasehold interests when dealing with lenders. You can also question the situation with your conveyancing lawyer who carried out the work.
I own a leasehold house in Limbury. Conveyancing and Clydesdale mortgage are in place. A letter has just been received from someone claiming to own the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1995. The conveyancing practitioner in Limbury who acted for me is not around. What should I do?
First contact HMLR to be sure that this person is indeed the registered owner of the freehold reversion. You do not need to instruct a Limbury conveyancing solicitor to do this as it can be done on-line for £3. You should note that in any event, even if this is the rightful landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I am the registered owner of a garden flat in Limbury, conveyancing was carried out November 1996. Can you let me have an estimated range of the fair premium for a lease extension? Similar properties in Limbury with over 90 years remaining are worth £211,000. The average or mid-range amount of ground rent is £45 charged once a year. The lease ends on 21st October 2086
With 67 years unexpired we estimate the price of your lease extension to span between £10,500 and £12,000 as well as costs.
The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you the actual costs in the absence of detailed investigations. You should not use the figures in tribunal or court proceedings. There may be other concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information before getting professional advice.