I am not in a position to travel far from Market Rasen. What is the rationale as to why all Market Rasen conveyancers are not on all bank panels?
Even though it may seem unfair for mortgage companies to limit who can act for them, from the public’s or conveyancer’s perspective, the flip side is that mortgage companies are becoming ever more anxious and feel it essential to protect them from mortgage fraud. As a result of this concern mortgage companies are limiting their panel of approved conveyancing lawyers to a size that they are happy to control.
Having sold my house in Market Rasen last January but the buyer keeps calling me complaining that her solicitor needs to hear from mine. What are the post completion sale formalities following completion?
Following your house sale your solicitor is committed to send the transfer documentation and all of the paperwork to the buyer’s conveyancer. Depending on the transaction, your conveyancer must also confirm that the mortgage has been repaid to the buyers conveyancers. There are no post completion tasks specific conveyancing in Market Rasen.
Me and my brother own a 4 bedroom Edwardian house in Market Rasen. Conveyancing practitioner acted for me and Chelsea Building Society. I did a free Land Registry search last week and I saw a couple of entries: one for freehold, another for leasehold under the matching address. I'd like to know for sure, how can I find out??
You need to read 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 Market Rasen 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 the conveyancing lawyer who conducted the purchase.
Over the last few months I have been searching for a leasehold apartment up to £245,000 and identified one round the corner in Market Rasen I like with a park and railway links nearby, the downside is that it only has 52 remaining years left on the lease. There is not much else in Market Rasen for this price, so just wondered if I would be making a mistake acquiring a lease with such few years left?
Should you need a mortgage the shortness of the lease will likely be an issue. Discount the offer by the anticipated lease extension will cost if not already taken into account. If the existing owner has owned the premises for a minimum of twenty four months you may ask them to commence the lease extension formalities and then assign it to you. You can add 90 years to the existing lease and have £0 ground rent by law. You should consult your conveyancing lawyer regarding this matter.
What should I expect to pay for conveyancing in Market Rasen?
The total sum charged for Market Rasen conveyancing charges are likely to be calculated at:
- a fixed charge; or
- on a time spent basis (i.e. the time spent on the particular case).
These days very few Market Rasen conveyancing solicitors invoice by the clock