My house in Niton is up for sale and I have a purchaser. Does my conveyancer have to be required to be on the Aldermore conveyancing panel in order to deal with redeeming my mortgage?
Ordinarily, even if your lawyer is not on the Aldermore conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their conditions fairly frequently at the moment.
I note that there are debates on Chancel Insurance on online forums. Am I compelled to take this when buying a property in Niton? or Apparently there is historic law that could mean that homeowners living in a parish church boundary will be compelled to contribute towards repairs to the chancel in proximity to the church. Is this applicable for conveyancing in Niton?
Unless a previous purchase of the house took place post 12 October 2013 you may assume that solicitors conducting conveyancing in Niton to remain encouraging a chancel search and or insurance against a claim.
I've recently found out that there is a flying freehold element on a property I have offered on two weeks back in what was supposed to be a straight forward, no chain conveyancing. Niton is the location of the property. What do you suggest?
Flying freeholds in Niton are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Niton you must be sure that your lawyer goes through the deeds thoroughly. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Niton may decide 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 property.
Given that I am about to part with 450k on a house in Niton I would like to talk to a conveyancer concerning thetransaction prior to giving the go ahead to the firm. Is this something that you can arrange?
We could not agree more - we would be pleased to talk to you we do not take any clients on without you liaising with the solicitor due to be doing your conveyancing in Niton.There is no ‘factory style conveyancing’ - each client is an important person, not a file number. The law firms that we put you in touch with believe that the fees you are provided with for residential conveyancing in Niton should be the figure that you end up paying.
Are there frequently found defects that you come across in leases for Niton properties?
There is nothing unique about leasehold conveyancing in Niton. Most leases are drafted differently and drafting errors can result in certain sections are erroneous. The following missing provisions could result in a defective lease:
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Insurance obligations
You may have a problem when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Nationwide Building Society, Norwich and Peterborough Building Society, and TSB all have very detailed conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to grant the mortgage, obliging the buyer to withdraw.
I invested in buying a ground floor flat in Niton, conveyancing having been completed in 2010. Can you shed any light on how much the price could be for a 90 year extension to my lease? Corresponding flats in Niton with a long lease are worth £181,000. The average or mid-range amount of ground rent is £55 per annum. The lease expires on 21st October 2076
You have 51 years unexpired we estimate the price of your lease extension to be between £30,400 and £35,200 as well as professional fees.
The suggested premium range above a general guide to costs for renewing a lease, but we are not able to provide the actual costs without more comprehensive due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. You should not move forward based on this information without first seeking the advice of a professional.