I plan on acquiring a ground floor flat in Loughton. My lawyer has never been on on the lender approved panel. Am I still permitted to use my Loughton conveyancing solicitor notwithstanding that they are not on the mortgage company list of approved lawyers?
One will need to have a conveyancing practitioner to complete the legal work required if you take out a loan to purchase your home. The conveyancer will conduct all the necessary investigations on the property, ensuring that you’re properly registered as the owner and ensure that all the required mortgage documentation is dealt with. You could appoint a Loughton conveyancer of your choosing. Nevertheless, where the conveyancer appointed is not a member of the mortgage company approved list further charges will arise as separate legal representation will be required by them. Bank panel applications can be submitted, so where your conveyancer has not historically applied for membership they should take the opportunity to apply.
Me and my brother own a terraced Georgian house in Loughton. Conveyancing solicitor represented me and Yorkshire Building Society. I happened to do a free search for it on the Land Registry database and there are two entries: the first freehold, another for leasehold with the matching property. Is it worth asking Yorkshire Building Society to clarify?
You need to assess 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 Loughton 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 purchasers. You can also check the situation with your conveyancing solicitor who completed the work.
Over the last few months I have been searching for a flat up to £235,500 and identified one near me in Loughton I like with open areas and station nearby, however it only has 61 years on the lease. I can't really find anything else in Loughton in this price bracket, so just wondered if I would be making a grave error purchasing a lease with such few years left?
Should you require a home loan the remaining unexpired lease term will likely be a potential deal breaker. Reduce the price by the anticipated lease extension will cost if it has not already been discounted. If the current proprietor has owned the property for a minimum of 2 years you may ask them to start the process of the extension and pass it to you. You can add 90 years to the existing lease term with a zero ground rent applied. You should speak to your conveyancing solicitor about this.
My business partner and I are planning to lease a unit on a shopping parade. Can you recommend lawyers offering no-move-no costs for commercial conveyancing in Loughton for below £1,200?
We can recommend firms who host a wealth of experience of commercial conveyancing in Loughton, including the sale and purchase of businesses as well as simply premises. Whether you are hoping to acquire or dispose of a shop, pub, restaurant, office, retail premises or a whole business we will put you in touch with the right lawyer. As for the costs these will vary based on the structure and heads of terms of the proposed transaction. Please provide us with your details or phone us so that we can furnish you with comprehensive commercial conveyancing quote.
Should I cancel my mortgage payments with Bank of Ireland once a completion date for my sale in Loughton has been set?
You are best advised to keep paying any mortgage payments to Bank of Ireland until the mortgage is repaid on completion as part of your Loughton conveyancing.